The coronavirus has caused upheaval in society and the economy. But, this unique time also opens up opportunities in estate planning. Read on to learn more. by Steve Hartnett The novel “coronavirus” (also called “SARS-CoV-2”) causes the disease “COVID-19.” It first appeared in late 2019 and was reported to the World Health Organization (WHO) on December 31, 2019. Here’s a link to the WHO’s site for the latest global information. COVID-19 has impacted the lives of millions of people and … [Read more...] about Low-Interest Loans: An Estate Planning Technique
Irrevocable Medicaid Trusts
May 19, 2020 by Steve Hartnett Medicaid is a state-federal partnership that provides medical benefit assistance to certain needy people, especially those over 65 years of age. However, you need to meet financial requirements such as asset limits to qualify. Assets in an irrevocable trust not for your benefit typically don’t count as available. Read on to learn more. In order to be considered to have financial need, when you go into a nursing home and go on Medicaid, you cannot have more than … [Read more...] about Irrevocable Medicaid Trusts
Whom Do You Want to Get Your Assets?
February 4, 2020 by Steve Hartnett Most of us have an idea whom we’d choose to receive our assets at our death. But often we don’t contemplate what should happen if the people whom we’ve selected die before us. Read on to learn more about contingent beneficiaries. It’s important to consider whom you’d want to get your assets when you die. Most of us have an idea of whom we’d choose. But, it’s also important to consider who should get those assets if your preferred recipient isn’t around. … [Read more...] about Whom Do You Want to Get Your Assets?
Best Places to Retire: State Taxation
February 25, 2020 by Steve Hartnett You owe federal income tax wherever you live. But your overall tax burden can vary dramatically depending on where you live. Read on to learn more. There are many factors which enter into your decision of where to live or retire. You may want to move to be closer to your grandchildren. You may want to be in the climate you prefer. One of the factors to include in your decision is taxation. As long as you live in the United … [Read more...] about Best Places to Retire: State Taxation
Shrunken Asset Values Open Estate Planning Opportunities
COVID-19, the novel coronavirus, has been a challenge confronting countries around the world. Not only has COVID-19 been challenging healthcare systems, but the social distancing required to combat the virus has also rocked financial markets. However, there may be an opportunity for those wishing to do certain types of Estate Planning. April 7, 2020 by Steve Hartnett The novel “coronavirus” (also called “SARS-CoV-2”) causes the disease “COVID-19.” It first appeared in late 2019 and was … [Read more...] about Shrunken Asset Values Open Estate Planning Opportunities
Planning for the Sandwich Generation
by Steve Hartnett 0 Comments People are living longer and are having children later in life. Due to this combination of demographic factors, many more people are in the “Sandwich Generation.” Someone in the Sandwich Generation has elderly parents while they still have minor children. All too often, they are torn between their caregiving responsibilities for their children and for their parents. Here is an article regarding the Sandwich Generation which may be of interest. If you’re part of … [Read more...] about Planning for the Sandwich Generation
Joint Tenancy Pros and Cons
Joint tenancy is a commonly used form of ownership between two or more people. It can be an easy solution. However, it can have drawbacks. Read on to learn more. by Steve Hartnett Joint tenancy is a form of legal ownership where the property passes automatically at the death of one of the owners to the remaining joint tenants. Typically, there are two joint tenants, though there could be three or more joint tenants. While this form of ownership may be convenient, especially for couples, … [Read more...] about Joint Tenancy Pros and Cons
Preparing for Coronavirus
The novel coronavirus, COVID-19, is spreading in the United States and across the globe. Learn what steps you can take to prepare yourself and help prevent its spread. Read on to learn more. … [Read more...] about Preparing for Coronavirus
Planning for the SECURE Act
The SECURE Act passed in late December. The SECURE Act changes some lifetime rules, but the biggest change concerns rules for beneficiaries. The first article in this series examined the SECURE Act. This article examines some planning strategies for dealing with the SECURE Act. Read on to learn more. … [Read more...] about Planning for the SECURE Act
The SECURE Act and What It Means for You
The SECURE Act passed in late December. The SECURE Act changes some lifetime rules, but the biggest change concerns rules for beneficiaries. Read on to learn more. … [Read more...] about The SECURE Act and What It Means for You
