July 2022

Executors: Were You Caught With Your Pants Down By A Stock Market Crash? Here’s What You Should Have Done

Getting socked with drastic stock market losses is bad enough.  But Executors face the added problem of having to answer to disgruntled beneficiaries.  The current market meltdown illustrates an important point many Executors fail to recognize. An Executor is the person named in a Last Will & Testament who is responsible for distributing a decedent’s

Dynasty Trusts: A Tax-Efficient Way to Pass Wealth Down Through the Generations

If you want to pass money to future generations without having it subject to gift and estate taxes, then a dynasty trust may be right for you. A dynasty trust allows trust assets to be used for the benefit of multiple generations while keeping the assets out of the grantor’s and the beneficiaries’ taxable estates.

Children Are Liable For Unpaid Nursing Home Bills Of Parents Even If They Never Got Any Of The Money

Sam, Mary’s son and agent under her power of attorney, didn’t bother to seek legal advice after Mary entered a nursing home.   “She only has $60,000.  There’s nothing we can do”, he told his sisters.  Five months later, with her funds exhausted, Mary sought Medicaid to pay for her care.  To Sam’s shock and dismay

Some Social Security Beneficiaries Can Get Retroactive Payments — But at a Cost

If you need a lot of cash on hand upon retirement, Social Security offers a lump-sum payment option that’s worth six months of benefits. However, it comes at a cost. It is important to understand the details before agreeing to the payment. If you have waited beyond your full retirement age (66 for those born