Archive for April 2017
What Happens When You Die with Debt?
Certain kinds of debt die with you, but others will have a big impact on your heirs. If you know the difference, you’ll know what steps to take. Many Americans have unpaid debts when they die. A study reported by Credit.com says that as many as 73% have debts on death. “Dying with debt: Advice…
Read MoreHow Boomers Can Lighten Their Tax Load While Helping with Preschool Costs
Private preschools can be almost as expensive as state colleges. The cost of private colleges, by the time today’s preschoolers get to campus, can only be guessed at. Here’s an opportunity for boomers to help their grandchildren attend the preschool of their parent’s dreams, while achieving some tax benefits, as reported in CNBC’s recent article,…
Read MoreCan the Estate Tax Campaign Pledge Translate into Legislation?
Candidates are able to make lots of plans and promises when they are campaigning, but actually getting big bills passed is not a sure thing. Regardless of your political preference, it’s likely that you’d welcome the repeal of the estate tax, as promised by President Trump when he was on the campaign trail. But remember…
Read MoreHow a Pet Trust Can Care for Your Beloved Furry Kids
No longer the exclusive territory of the super-wealthy, today even regular people use pet trusts to create a legal and financial safety net for their companion animals, while providing peace of mind. If your household includes pets, whether they have fur, feathers or fins, you can use a pet trust to protect pets when you…
Read MoreSteps to Take to Protect Estate Tax Exemptions
Although there is now a generous federal estate tax exemption, there are still state estate taxes. You’ll want to make informed decisions about how to pass your wealth to your surviving spouse. Trusts may be a good option, but there are different paths you can take to arrive at the same destination: minimizing or eliminating…
Read MoreWhat to Consider When Deciding on Beneficiaries
Careful thought and planning is needed before naming beneficiaries to your accounts. Like choosing an executor for your estate, the choices of beneficiaries can have far-reaching consequences. Many of your financial assets allow you to name beneficiaries, including life insurance policies, pension plan accounts, annuities and IRAs. However, before you automatically write down your children…
Read MoreThe Daffy Duck School of Retirement Planning
What Baby Boomer doesn’t remember the over-the-top declarations of Daffy Duck, especially when he’s grabbing something that he thinks he’s about to lose to Bugs Bunny, sputtering” It’s mine, all mine!” Daffy Duck may have been a bit manic, but apply his thinking to your Individual Retirement Accounts (IRAs) and you’ll be on the right…
Read MoreTennessee Supreme Court Consents to Hear Challenge to Estate of J. Don Brock
The highest court in Tennessee will soon hear the case of five adopted children, who claim that their stepmother removed them from their father’s estate in a malicious attempt to disinherit them. The five adopted children of J. Don Brock, founder of a billion-dollar empire, are battling their stepmother over what they claim are her…
Read MoreDid You Know: Life Insurance Policies are Contracts?
Most people don’t bother to read their life insurance policies. If you don’t know what’s in your policy, review it with an estate planning attorney so you’ll know what you have purchased. Most people just sign on the dotted line, and don’t know that their life insurance policies are actually legally enforceable contracts. A recent…
Read MoreStaying Connected to a Valued Community through Planned Giving
Through the use of a Charitable Remainder Unitrust, the Whitehouses receive lifetime income. At the same time, their beloved university and Calvary Church benefits from their generosity. Getting updates about Bethel University are important to Neil and Marilyn Whitehouse. They like to know about the activities and events at Bethel, a top-ranked Evangelical Christian university…
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