Posts tagged as:

Family

Economy’s Cold Reality Has Created Some Hot Properties

October 2, 2009
grave decision

We’ve noticed a really unusual real estate trend lately as families look for ways to increase their cash reserves by selling off long-held properties.
They’re not selling vacation cabins or those condos they bought as investments. Frankly, the residential real estate market has not recovered enough for anyone to make decent money doing that.
Instead, some clients [...]

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Estate Planning for Your Other Children – Your Pets

August 28, 2009
Photo by digital_image_fan

When we die or become incapacitated, the strategic planning we’ve put in place to provide for loved ones goes to work. The important things will be taken care of.
Our bills continue to get paid, out investments continue to grow for future generations, and any minor children are cared for by loving guardians.
It seems like we’ve [...]

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What Kind of Person Should be Your Trustee?

July 30, 2009
Photo by Joi

IIf you are a business owner, then you understand the importance of earning a client’s trust. They want a sense of your integrity and experience level. They want to know your motives are not just about making a buck and that you will look out for their best interests.
When you create a Revocable Living Trust, [...]

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Pre-Plan to Combat Rising Costs of Long-Term Care

June 15, 2009
Photo by DerrickT

One of the greatest challenges many of my clients face is how to protect their families from the rising cost of long term care – both for themselves when they reach retirement and for elderly parents.
For example, the average cost of staying in a Florida nursing home is between $5,000 to $6,500 per month, or [...]

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Feds Rate Nursing Homes Online

June 3, 2009
Photo by consumerfriendly

This is an idea that should have been brought to fruition a long time ago. The federal government has a tool consumers can use to evaluate nursing homes: medicare.gov/NHCompare
According to an article in the Wall Street Journal, the Centers for Medicare and Medicaid Services, or CMS,  started ranking facilities in December based on government inspection [...]

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What Parents Need to Know About Joint Tenancy

April 3, 2009
Joint Tenancy

When most of you bought your first home, you probably signed a deed as a joint tenant next to your spouse’s signature. That’s the way your parents and grandparents did it, and the real estate agent told you it would to protect the surviving spouse from probate court after one of you dies.
It’s not unusual [...]

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Make Organ Donation Wishes Clear to Family and in Living Will

March 27, 2009
brain dead

Most of our clients have Living Wills establishing instructions that mechanical life support should not be used if they have a terminal condition. However, many clients also have a desire to donate organs upon death.
There are distinctions to understand regarding these complex issues.
Recently, a client told us about a relative who received a [...]

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Ailing Tycoon’s After-Death Wishes Bungled by Poor Estate Planning

March 10, 2009
Max Farash

Real estate developer Max Farash is a generous man. His charitable foundation has given away millions to worthy causes over the last ten years.
Long before dementia ravaged the 95-year-old’s once sharp business mind, Farash drew up plans to transfer most of his wealth – valued somewhere between $200 to $500 million – to his charitable [...]

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Sharing The Family Business, Without Giving Up Control

January 14, 2009

Another great way to insulate your assets during a down economy and minimize your estate tax liability is starting a Family Investment Company (FIC).
Who can use this strategy? Families who want to lessen their estate tax burden, increase asset protection, and keep assets in the family.
What are the benefits? By gifting interests in your FIC [...]

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Freeze the Value, Avoid Estate Tax, Give Kids the Benefit

December 17, 2008

With a Grantor Retained Annuity Trust (GRAT), you can avoid gift-tax consequences while temporarily freezing the value of an asset that will be worth more later.
The asset can be shares in a company that is likely to go public or beaten down shares of stock that are likely to appreciate.
Like loans, GRATs mature within a [...]

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