Tag Archives: plan

Basics of Estate Planning Re: IRAs

IRAs are one the trickiest assets for estate planning attorneys to handle for many reasons. First, they often are overlooked in the estate planning process because they cannot be transferred during lifetime.  This asset, like some other assets, are controlled by beneficiary designation.  While the client might remember a large IRA, they often forget smaller IRAs.  As a result, beneficiary designations often are left unchanged even when circumstances have changed, making those designations no longer appropriate. Continue reading

Who May Act as An Agent Under a Power of Attorney?

November 28th, 2016, Elder Care Matters Q&A discusses the importance of selecting an Agent under a Power of Attorney

Question:  Who may act as an agent under a Power of Attorney? Continue reading

Do You Have a Difficult Family?

A businessman with a $2.5 billion estate passed away in 1976. He was single and many individuals, mostly unrelated to him, filed more than 40 wills with the probate court. Twenty-two cousins fought with all of the other individuals claiming a share of the estate. In the end, the wills were all ruled invalid and the 22 cousins plus the federal government divided up the estate.. This may occur because one of your family members or potential heirs might believe that he or she can receive a larger portion of the estate. Continue reading

The Best Way to Help a Grandchild with College

A college education — even at a highly rated private institution — was once regarded as a relatively affordable route to lifelong prosperity, but in recent years it has become a hobbling financial burden for many families. As a result, older generations are often stepping up to help their families with college funding. Continue reading