A recent article in the New York Post about brothers battling over a painting from their uncle’s estate serves as a reminder of the importance of designating a destination for your personal property, either through a will or by gifting while you are still alive. The...
Year: 2014
Practical Tips for Special Needs Planning
In honor of “Developmental Disabilities Awareness Month,” proclaimed by President Ronald Reagan in March 1987, this month’s issue of The ElderCounselor™ examines the unique planning requirements of families who have loved ones with special needs. Understanding the...
Does anyone still spank children?
Pediatrician Dr. Bill Sears is the author of more than 30 books on childcare, has appeared on dozens of national talk shows, provides medical and parenting guidance for Parenting and BabyTalk magazines, received his pediatric training at Harvard Medical School’s...
Another Actor’s Estate Plan Screwed Up By His Lawyer
Oscar-winning actor Philip Seymour Hoffman’s will has been filed for probate and provides a cautionary tale when it comes to estate planning mistakes. Here are four things he could have done to correct them: Create a Revocable Living Trust. Hoffman was a public...
How Advance Medical Directives Became a Way of Life in One American Town
With just over 50,000 residents, La Crosse is a lot like other small American towns – but there is one thing that makes La Crosse stand out: 96% of La Crosse residents who have died have had an advance medical directive in place. Nationally, the percentage of...
Receiving an Inheritance One Day? Here’s What to Do Now.
Baby boomers are set to inherit up to $8.4 trillion over the next 15 years, according to The Center for Retirement Research at Boston College. A recent New York Times article explored the complicated issues that these inheritances can bring, including transferring...
A Prolonged Death Provides Lessons for the Living
Everyone agreed on one thing: Marlise Munoz was dead. The 33-year-old Texas wife, mother and paramedic got up in the night on Nov. 26, 2013, to tend to her toddler son and suffered a pulmonary embolism. Her husband Erick, also a paramedic, was able to briefly get...
The Perfect Solution for Choosing Your Child’s Guardian
If you have minor children and have not yet selected a guardian, you are not unlike many parents who put off this critically important task while waiting for the perfect solution to present itself. Or perhaps you and your spouse/partner cannot agree on who would be...
Important Life Insurance Considerations
If you have been responsible enough to purchase a life insurance policy as added protection for your loved ones, then you will want to carry that responsible action a little further by protecting that important payout from taxation. If you are married and have named...
5 Fast & Furious Estate Planning Lessons from Paul Walker’s Estate
Paul Walker, who starred in the Fast & Furious movie franchise, died tragically in a high speed car accident in Los Angeles last November at the age of 40. His estate was opened at the end of January in the Superior Court of California, County of Santa Barbara...