After Alan Thicke passed away from a ruptured aorta in 2016, his sons Robin and Brennan were named co-trustees of his estate, according to TMZ. Fox News reports in its story, “Alan Thicke’s widow claims late actor’s sons are spending trust, keeping her from inheritance” that Alan Thicke’s wife Tanya Callau feels the brothers are leaving her out of the loop and...
Continue ReadingForbes recent article, “Two Key Steps to Successful Estate Planning” explains that, in many instances, the ultimate goal in estate planning is to ensure the wealth you accumulated, lasts for a while and is used to improve the lives of your family. Unfortunately, the process of passing on the wealth often creates problems within the family. Disagreements can arise, and conflicts about...
Continue ReadingHow do you find an old retirement account that hasn’t been looked at in years? In a recent article, “How To Track Down That Lost 401(k) Or Pension,” Forbes notes that Americans have lost track of more than $7.7 billion worth of retirement savings in 2015 alone, by “accidentally and unknowingly” abandoning their 401(k) plans. With people jumping from job to job,...
Continue ReadingWhen Brad and Robin Cooper started to plan their instructions for their estate, they knew they wanted to help charities that were near and dear to their hearts. One of the organizations they selected as beneficiaries, was Flagler Health Care Foundation. That was because of Brad’s participation on the board of trustees and also because of the care that...
Continue ReadingYou can designate a charity as the beneficiary of your IRA. When your pass away, the charity will receive those funds. When you die, the charity can show the bank a certified copy of the death certificate, fill out the proper forms and will be entitled to the IRA funds. Easy! There’s no need for the charitable organization to...
Continue ReadingAs you look at your financial future, procrastinating can make things much tougher down the road. Here’s how to get confident about your money. USA Today’s recent article, “Financial planning: How to determine if you need life insurance in retirement,”notes that many older Americans wonder if they’ll need life insurance in retirement. They are concerned about whether their surviving spouse and...
Continue ReadingThe Tax Cuts and Jobs Act of 2018 temporarily doubles the allowable credit for the federal estate tax. It is $11.2 million for an individual and $22.4 million for those who are married, reports Newsmax’s recent article, “Trump Tax Law Necessitates Immediate Review of All Estate Plans.” Note that a more recent change, called “portability”, allows the unused estate tax credit from...
Continue ReadingA trust can be a valuable vehicle that lets you maximize tax-planning opportunities within your estate plan, detail exactly how you want to distribute your assets and make certain that your vision for your legacy is carried out precisely. Kiplinger’s recent article asks, “What Type of Trust Solution is Best for You?” The article notes that people often make one common mistake...
Continue ReadingWhen someone can no longer care for himself, or their estate is in disarray, a conservatorship is granted by a court to a caregiver or to a guardian. This is a pretty drastic action, but it’s usually necessary when nothing was arranged in advance, such as a trust, powers of attorney, or healthcare directives. The San Diego Union-Tribune’s recent article...
Continue ReadingAfter spending years working, bringing in income and saving for the future, you now must spend and manage that money. It’s a big change, and requires a thoughtful approach. US News & World Report’s recent article, “7 Myths About Finances in Retirement,” says that moving into this new phase of life, can create changes in your finances and lifestyle. For most of...
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