Worried about a Spouse Needing Nursing Home Care? – Annapolis and Towson Estate Planning
Let’s take one couple, Tom and Louise, who have been married to each other for over 50 years and live in the same home they bought when they first got married.
What Are Some Advantages of Making Lifetime Gifts? – Annapolis and Towson Estate Planning
You probably give to others each year, such as for birthdays and Christmas gifts. Gifting can be done for other reasons, including during life or as bequests at death. The reasons for doing so could be to accomplish nontax or tax goals.
Does Estate Planning Include Your Account Passwords? – Annapolis and Towson Estate Planning
Estate administration in the digital age requires having a strategy to share passwords to your computer, email and online accounts. Without that, things quickly get complicated.
What Do I Need to Know About ABLE Accounts? – Annapolis and Towson Estate Planning
What is an ABLE account and who is eligible?
Are Your Company Benefit Plan Designations Up-to-Date? – Annapolis and Towson Estate Planning
Upon passing, your will outlines who gets what, when and how (outright or in trust). Your named executor will submit the will to the proper court which determines its legitimacy and oversees the distribution of assets, a process called probate. However, not all of your assets are controlled by your will.
An Estate Plan Directs Assets According to Your Wishes – Annapolis and Towson Estate Planning
Many people do not create an estate plan or do not consider all of the ramifications of their actions. This may be because they never get around to doing it, or they don’t believe their estate is big enough to require a plan.
Figuring Out A Parent’s Financial Life, When They Cannot – Annapolis and Towson Estate Planning
Statistics tell us that it is very likely one or both of our parents will end up in a nursing home or rehabilitation center for an extended period. If you’re like most people, you do not know a whole lot about your parent’s finances.
Passing the Family Business to the Next Generation – Annapolis and Towson Estate Planning
Planning to hand off significant assets, especially a business, to the next generation is a financial decision. However, it is one that also requires the careful handling of a family’s internal dynamics.
What Happens Next, When You’ve Become a Widow? – Annapolis and Towson Estate Planning
Like many couples, Susan and Larry, who were married for 46 years, had divided the financial chores. Larry handled the investments, and Susan paid some bills. Though Ms. Alpert owned a business arranging travel incentives for large corporations, she was not prepared to manage the household’s financial affairs.
Big Mistakes Add Up Big Time for Retirement – Annapolis and Towson Estate Planning
Retirement experts say failure to invest enough and not judging your spending are two of the biggest pitfalls.