Dear Magic, I read somewhere that Prince died two years ago, but his heirs have yet to inherit any of his 200 million dollar fortune. How can this be? Noah Money-Forthem —- Dear Noah, It’s true that it’s been two years, and Prince’s family has yet to see their inheritance. The reason is the fact […]
The Best Way to “Disinherit” an Estranged Adult Child
Q. My adult daughter, Hallie, is from a previous marriage. I have been happily married to my second husband for 15 years, and we have supplied much love and finances to keep Hallie’s family going through the years. We even placed a 2nd mortgage on our home so she and her husband would have a […]
Update Your Estate Planning Documents Now!
Dear Magic, My husband and I came to Evan’s office to do our estate planning several years ago. We have had some family changes since then, such as our children got married and had children of their own. With all this happening and with the new tax plan going into affect, does our estate planning […]
Top 17 Articles of 2017
From the passing of the RAISE Family Caregivers Act to offer much-needed support to caregivers, to Trump’s tax overhaul, we covered a lot of ground in 2017. It was a year that included a massive data breach, the ACA almost being repealed, and amazing new technological innovations to help seniors age-in-place. At the Farr Law […]
What Happens to Debt When We Die?
Q. I was having a conversation with my father at Thanksgiving dinner this year about debt. I am middle-aged, and am in a long-term relationship, but have never been married. I currently have a lot of debt, including student loans from going back to school, a mortgage, medical bills, and credit card debt. If I […]
10 Biggest Estate Planning Blunders of Celebrities – Don’t Make These Mistakes!
Q. I have been reading your newsletter for several years now. I remember, in the past, you did a series on celebrity estate planning mistakes and lessons that can be learned from them. I found it to be very helpful and interesting to read. Since then, have there been any new instances involving celebrity estate planning […]
Planning Ahead for Grandchildren
Q. Two years ago, our daughter Meredith got married. Today, she called to tell us that she is expecting twins! My husband and I are overjoyed, as they will be our first grandchildren. We want to make sure we include them in our planning. We know how expensive it was to send our children to […]
What’s in Your Estate Plan, Mom and Dad?
Q. Our daughter, Melanie, recently came to visit us. She told us that she and her husband will be meeting with your firm to do their estate planning and incapacity planning. Then, she inquired about what we put in our estate plan. We were taken aback by the question, and luckily, the time wasn’t ideal […]
Keeping Emotions Out of the Estate Planning Conversation
Dear Ribbit, I understand that discussing estate planning with adult children can be an emotionally charged conversation. However, I know it’s a critical topic to address with family members. In my situation, my daughter is very sensitive and has always thought my wife and I favor her brother. It’s not true. We honestly don’t favor one child over the other. We do, however, want to leave him certain things, such […]
Her Parents Were Kidnapped by a Professional Guardian
Rudy North was an avid reader, who had a sharp mind and liked to write down quotes from his favorite books. Rennie, his wife of fifty-seven years, was recovering from lymphoma and suffered from neuropathy so severe that her legs felt lifeless. Yet, she spent her mornings prettying herself up for her husband, who referred […]
TED Talks: New Ways to Think About Death
Most people don’t like to think about dying. We’d rather focus our energy on the people and the things we love, happy times, and things that bring us joy. But, as we all know, death is inevitable, and shouldn’t be ignored. Despite what most think,these conversations don’t have to be sad and depressing. They can be positive and thought-provoking. As […]
How to Downsize the Right Way
Q. My husband and I became empty-nesters when our son and daughter moved out and started families of their own. We will be selling our home and moving to a condominium in a senior living community in a couple of months. I admit I’m somewhat of a pack rat, and have a lot of stuff, […]
How to Minimize Family Conflict Over Your Estate Planning Wishes
Q. My children are very different, and sadly they don’t get along. My son, John, has been a PhD student for more than 10 years now. He insists that his research is going well and that he will be done soon. At the age of 45, he still lives in our basement with his wife, and their two children, because they can’t afford their […]
I Don’t Want Your Vacation Home, Mom!
Dear Commander Bun Bun, My mother just did her estate planning and she told me she will be leaving us her vacation home. My father is deceased, and I am an only child. Despite her generosity, my family doesn’t want the home, and we told her that in the nicest way possible, but she still […]
Tax Advantages and Overlooked Deductions for Retirees
Q. April 15 is quickly approaching, and my husband and I are planning on doing our taxes soon. As retirees, I know that there must be some deductions that we may be overlooking. Of course, similar to most seniors on a fixed income, we want to deduct all we can. Are you aware of any tax advantages or overlooked deductions for retirees for 2016 taxes? A. Tax season is here and, as you mentioned, it’s important to be […]
The Financial Problems of CCRCs
A Continuing Care Retirement Community (CCRC) is an age-restricted community where, in most cases, incoming residents must be at least age 55 or older. The facilities offer independent-living units, assisted living units, and skilled nursing all in the same building or on the same campus. In addition to paying a sizable entrance fee, residents pay […]
Have You Prepared for Your Digital Afterlife? Most People Haven’t.
Q. My mother is very tech savvy. She is always on Facebook posting pictures, articles, and recipes. She uses online bill pay to pay most of her bills, and Microsoft Office 365 to keep a daily diary in Word and her monthly budget in Excel. She uses different passwords for everything, since she feels like […]
Advance Directives Mean Less Costly Care
Q. My aunt died ten years ago without an advance directive. I will never forget the fight between her husband and the rest of the family about life saving measures before she died. He insisted that she would have wanted them, when the rest of the family said she would not. There is tension to […]
Planning Your Own “Unique” Funeral — a Scary Undertaking?
Renato Bialetti’s family placed his ashes in a replica coffee pot urn. Q. I recently read about a funeral for 50-year-old Renato Garcia, where his body was on display at his own wake, wearing a Green Lantern costume. When asked why, his sister explained that she and her brother never discussed funeral wishes, but neighbors […]
Our Top 10 Scariest Articles of 2016 (If You Dare)
With Halloween upon us, now is the time when we present you with this year’s scariest stories. From one typo costing you your computer to loved ones with Alzheimer’s owning guns, we uncovered some scary ground. To celebrate Halloween, we’ve ranked our scariest articles from least to most scary (but you be the judge) for […]
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