Does Artwork Belong in a Charitable Remainder Trust?
Instead, they placed the items in a charitable remainder trust, received a tax deduction for part of the value, received income from the trust and then gave a sum to a charity of their choice.
Why Gifting during Volatile Markets Makes Sense
The recent decline in asset values may make gifting a more attractive estate planning technique for many individuals, especially if you are considering gifts of stock or other non-cash assets.
Can I Keep a Loved One’s Inheritance From Their Spouse?
I plan to leave most of my estate to my niece, but I do not want her estranged husband to be able to get his hands on any of the money. They are not getting divorced ‘because of the child.’ What is the most economical way to do this? They live in Missouri and may be moving to South Carolina. I am a New Jersey resident.
How Much Control from the Grave Can Parents Have?
They want to leave their house to all three of the children, but they do not want us to sell the home after they both die. Is there a way they can make it, so the house can’t be sold after their deaths?
Rules for the HIPAA Waiver Relaxed?
Under the temporary enforcement waiver, OCR won't impose penalties for disclosure of protected health information, if the business associate makes good-faith use or disclosure for public health activities and informs the covered entity within 10 business days.
What are the Taxes on My IRA Withdrawal?
How much you will pay in taxes on an individual retirement account (IRA) withdrawal, depends on the type of IRA, your age and the purpose of the withdrawal. Sometimes the answer is zero—you owe no taxes. In other cases, you owe income tax on the money you withdraw and sometimes an additional penalty if you withdraw funds before age 59½. On the other hand, after a certain age, you may be required to withdraw money and pay taxes on it.
C19 UPDATE: Should You Bring Mom Home from the Nursing Home Now?
With the coronavirus moving through facilities that house older adults, families across the country are wondering “Should I bring Mom or Dad home?”
How Do I Protect Property If I Need Long-Term Care?
Did you know that 70% of adults over the age of 65 are predicted to need some type of long-term care for an average length of three years? While thinking about your future, you’ve likely already planned financially, but have you considered your long-term care options?
Retirement Planning and Declining Abilities
When a loved one is experiencing cognitive decline, emotional and medical considerations often overshadow the financial planning that needs to happen. This is a potentially costly mistake.
Requests for Estate Plans Reflect Fears about Coronavirus
Lawyers are being bombarded with requests to write wills, update estate plans and prepare health surrogate or "pull the plug" documents, as people are confronted by the realization that they could be diagnosed with COVID-19 and dead within days.