Actor’s Mistake in Estate Plan Is Costly

Philip Seymour Hoffman’s mistakes cost at least $12 million in estate taxes. Some estate planning mistakes made by the late actor Philip Seymour Hoffman turned out to be costly. His estate planning mistakes were not marrying the mother of his three children and not working with an estate planning attorney, according to a Kiplinger in…

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Whether You Are 18 or 81, Why You Need a Will

Having a will gives you a voice in what happens to your possessions, and estate planning documents give directions to others about your wishes in the case of incapacity. Many people think that they only need a will if they have a lot of assets, but that’s just not true. Anyone who is older than…

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A Smart Retirement Plan Includes Life and Disability Insurance

“Will your beneficiaries receive death benefits free of the federal estate tax?” Your long-term personal financial plan should include sufficient life and disability insurance as a key planning element. With the proper balance and advance planning, you can collect life and disability insurance proceeds free of federal taxes. MarketWatch’s recent article, “How to avoid the…

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Income Planning During Retirement

Retirement may bring an end to your work life, but your responsibilities just change gears. You have to learn how to navigate Medicare and manage an investment portfolio. People who may have been happy to let their investment company handle their retirement savings face big decisions in retirement, including how much risk they are willing…

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How Do Those Assets Get into the Trust?

If you don’t get the assets into the trust, you end up with an “unfunded” trust. If an “unfunded” trust ends up being created because assets were not transferred, there are a number of things that can happen when the trust settlor passes away, according to the NWI Times in “Estate Planning: Unfunded Trust.” If…

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Give Your Charitable Giving More Impact

Americans are truly generous, supporting causes and organizations and giving in the form of money, time and taking leadership roles. Charity Navigator reports that about 2% of the U.S. gross domestic product—approximately $400 billion—was donated by philanthropically-minded Americans to non-profits last year. Some give checks, others volunteer in programs or as leaders, while others are…

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Long Term Care Settings the Focus of New Law in Oregon

The State Department of Human Services says that the new law will provide a comprehensive approach to improving both safety and quality of care in long-term care settings. With the passage of House Bill 3359, Oregon legislators are putting changes in place to improve the quality of life for individuals living in licensed long-term care…

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Help Loved Ones Avoid the Sneaky Sweepstakes Scammers

The request for personal data seems like a simple thing when the chance to win millions is presented. However, the more information seniors give to sweepstakes scammers, the more vulnerable they become. Ninety-one year old “Jenny,” came very close to joining the ranks of elderly Americans who are scammed by thieves luring victims with the…

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