For insured’s under the misperception that their life insurance policy is iron clad simply because they pay their annually billed premium, these folks may be in for an abrupt and expensive surprise. Many policies are designed to stay in force only on the basis of critical assumptions being met or exceeded over the life of […]
Suppose your aging mother asks your sister to take care of her finances and help her to balance her checkbook. You live out of town, and think it’s a great idea. To make things easier, your mother adds your sister as a joint owner of her bank account. When your mother dies, her Will leaves […]
PART IV: HOW? DETERMINING THE TOOLS. “When an artist of talent makes a painting or a sculpture, he is always aware of the potentials and limitations of his materials; the better the artist, the more likely he is to know just what he can and cannot do with them.” ~Bruce Cole, Art Scholar and Senior […]
Our good fortune has continued with expanded growth in the markets. This is typical of an election year and if history is any indication, there should be more of this to come. The Dow Jones Industrial Average is up over 13,000 and the NASDAQ Composite has reached a new high as well (much of this […]
July 12, 1817 – May 6, 1862 Today is the 150th anniversary of Henry David Thoreau’s death. He died at age 44 – probably just scratching the surface at all he had to offer the world. To say Thoreau impacted lives is an understatement. For a touching op-ed on Thoreau’s influence, you can read Michael […]
My clients frequently claim that their number one goal in establishing an estate plan is to “avoid probate.” Upon further discussion, I discover that most have a number of misconceptions regarding what probate actually is. Probate Probate is, quite simply, the legal process by which assets owned by a decedent are transferred to the rightful […]
We previously discussed the options available to a surviving spouse inheriting a qualified retirement account. This article will address the options available to a non-spouse beneficiary inheriting a qualified retirement account. Just for a brief reminder, for purposes of this article, the term “retirement account” will be used to encompass all qualified retirement accounts, meaning […]
Part III: Who? Identifying The Participants. “All the world’s a stage, And all the men and women merely players: They have their exits and their entrances; And one man in his time plays many parts[.]” ~ William Shakespeare’s As You Like It In addition to making clients face their own mortality, estate planning presents an […]
I have helped many people draft their estate plan documents and most have been traditional in the sense that they want to be “fair” to their descendants. If there is a spouse all goes to them, next to their kids in equal shares. Further, the testator (persons for whom the estate plan has been drafted) […]
February 12, 1809 – April 19, 1882 It has been 130 years since the famous scientist, Charles Darwin, passed away at age 73. He is known for his theory of evolution and more specifically, the theory of natural selection. As The New York Times noted in his obituary… The announcement that Charles Robert Darwin died […]
The R.M.S. Titanic set sail from England on April 10, 1912. On April 14, 1912, the ship hit an iceberg, which caused irreparable damage and ultimately caused it to sink on April 15, 1912. 100 years later, the sinking of the Titanic still fascinates the world. As a recent New York Times article notes, there […]