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Estate Planning

Gifting Assets as Part of Long-Term Care Planning

August 14, 2018 By Mike

House wrapped with red bow
Source: iStock. Used by permission.

From time to time I get a question about whether an elderly parent should transfer their home or investment accounts to their children while they are still living. Usually the reasoning is that if they need to go into a nursing home for any length of time, the expenses will drain their assets and there will be very little money, if any, to pass down to their heirs. [Read more…] about Gifting Assets as Part of Long-Term Care Planning

Filed Under: Long Term Care (LTC) Planning, Planning Tagged With: Estate Planning, LTC

Year End Planning Items

December 23, 2016 By Mike

It inevitably seems like the week between Christmas and New Years becomes one big to-do list where we try to remember and then accomplish it all before the calendar flips.

At the risk of giving you more things to tackle, here are a few financial items to review. Some may help lower the tax bill  while others are just good to do on an annual basis. [Read more…] about Year End Planning Items

Filed Under: Planning Tagged With: Charity, College Planning, Estate Planning, Gifting, Taxes

A Quick and Important Conversation with Your Family

December 11, 2015 By Mike

For Thanksgiving this year, my family and I visited my parents in Florida. There were the usual Thursday morning holiday activities; catching up on family gossip and preparing enough food for a small army, all accompanied by the sound of marching bands from a TV tuned to the Macy’s Thanksgiving Day parade. In the midst of all this, my father asked me to follow him to the spare bedroom. [Read more…] about A Quick and Important Conversation with Your Family

Filed Under: Estate Planning, Personal Finance 101, Planning Tagged With: Estate Planning, Trusts, Wills

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