Currently viewing the tag: "estate planning"

Is a life well-lived measured by the size of our bank accounts and how much property we acquired? Or is it measured by our relationships and the condition of them when we leave?

What we leave behind, most importantly our words and deeds, are reflected in the lives of those we touched. Are you taking […]

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“Big Daddy… What is it that makes him so big? His big heart, his big belly, or his big money?”

– Brick Pollitt, character in the play
Last week my husband and I saw Tennessee Williams’ play “Cat on a Hot Tin Roof” at the Fulton Theatre. The theme of truth vs. mendacity runs […]

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“Who is rich? He who is happy with his lot.”
– Pirkei Avos (4:1)

At my seminars on the New Tax Act, I told the audiences about the unprecedented estate planning opportunity over the next two years of making gifts. The Estate Tax, Gift Tax and Generation-Skipping Tax exemptions are all at $5 million. […]

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Estate planning aims at the transfer of wealth from one generation to another in a way which minimizes taxes and maximizes economic gain. It usually involves parents making gifts to their children, grandchildren, or charities. The problem is that while many clients spend hours with attorneys, accountants, and financial advisors crafting an estate plan, they […]

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Life insurance and retirement plans compose the largest part of the estate for many people. Insurance death benefits, IRAs, Annuities, and 401(k)s do not pass under your will. They pass under contract law to those persons or organizations who are designated as the beneficiary.

Yet many people don’t review their designations, and don’t make […]

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The Uniform Law Commission has released a new proposed act for enactment by the states called the Uniform Fiduciary Access to Digital Assets Act (UFADAA). The theory behind the new uniform act is if the fiduciary would have access to a tangible or intangible asset, then the fiduciary will also have access to a similar […]

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To pick up where we left off, here is part 2 of this 4 part series.

Provide for Access

We are often told never to write down our passwords and to make them secure by choosing ones with letters and numbers and special characters that no one will be able to guess. That is exactly the […]

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You definitely need a plan to share passwords with your executor. If a digital asset is encrypted or protected by a strong password, the asset is effectively lost. Sharing passwords is a start, but it is not enough.

You may have multiple e-mail accounts, personal or family websites and blogs, domain names, important records, collections […]

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Continued from Ten Stupid Things People Do To Mess Up Their IRA’S: Part 1

4. Not beginning the required distributions on time. You are required to begin taking the minimum required distribution (“MRD”) by April 1 of the year following the year in which you attain the age of 70 ½. Making this […]

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Teddy Roosevelt used to be called the Trust-Buster because he forced the great railroad combination in the Northwest to break apart. He was the avowed foe of all sorts of trusts and monopolies.

Now the term ”Trust-Buster” may have a new meaning. Lots of folks find themselves with trusts set up for estate tax savings […]

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