Articles Posted in Estate Planning

A recent piece on the CNBC website addresses an important issue that many people tend to not think about: the impact of a sudden death on family finances. Writer Carmen Reinicke uses the celebrity suicides of Kate Spade and Anthony Bourdain as her jumping off point to discuss what attorneys, financial advisors and therapists say…

What are collectibles? According to the IRS, collectibles includes works of art, rugs, antiques, any metal or gem (with exceptions), any stamp or coin (with exceptions), valuable alcoholic beverages or “any other tangible personal property that the IRS determines is a “collectible” under IRC Section 408(m)”. Quite often people don’t have any idea how much…

Many people get confused between Medicaid and Medicare. So, what’s the difference? While, both programs were federally created, they do different things Basically Medicare is health insurance for people 65 or older and Medicaid is for people who meet certain income requirements. While Medicare will pay for some rehabilitative services in a nursing home, Medicaid…

Estate/financial planning when suffering from a terminal illness is a two stage process. The first stage comes during the illness when finances need to maximized to treat the illness. If you are terminally ill and still working it can make a significant difference in terms of cash flow. Group disability benefits may be available through…

Parents with special-needs children need to take special care when estate planning to insure their child will be provided for not only financially but also physically and emotionally. An article in Forbes by financial planner Christopher Young addresses these issues and suggests 4 financial planning considerations if you have a child with special needs. Do…