| Read Time: 2 minutes | Estate Planning

Guess What Your Biggest Expense Will Be In Retirement?

Chances are that your biggest expense in retirement will be taxes. KSL.com discussed this issue in its recent article, “5 retirement tax traps that could needlessly cost you thousands of dollars!” According to the article, you shouldn’t ignore the one thing that could have the greatest impact on your savings and investments: taxes. Here are some retirement tax traps that could needlessly...

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| Read Time: 2 minutes | Special Needs

How Does The New Tax Law Help A Family With A Special Needs Child?

The new tax law now permits money from a 529 plan to be rolled over into an ABLE account for children who have special needs, according to Kiplinger’s recent article, “How to Use College Savings to Benefit Children with Special Needs.” This year, a person can roll over up to $15,000, which includes any rollovers and new contributions to the ABLE account....

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| Read Time: 2 minutes | Insurance

Washington State AG Goes After Deceptive “Free Lunch” Estate Planning Seminars

Investigators at the Washington State Attorney General’s office allege that so-called “free lunch” seminars were used to ultimately sell complicated investments and cash in on commissions. As KOMO News reports on its website in the story, “State lawsuit accuses estate-planning company of being a deceptive “Trust Mill,”” the lawsuit filed in King County Superior Court names CLA Estate Services, Inc., CLA USA Inc.,...

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| Read Time: 2 minutes | Retirement Accounts

How Your Pension Fits Into Your Estate Planning

Pensions, unlike property, can be inherited tax-free. That means savers are increasingly looking to pass on their policies, according to Morningstar’s recent article, “Why Pensions are Vital to Estate Planning.” Company pensions—whether defined benefit or defined contribution—have different rules as to who can inherit in the event of a member’s death, as well as how much can be passed on to the...

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| Read Time: 2 minutes | Probate

The Issue Of Who Gets Charles Manson’s Remains Finally Decided

NPR reported in the article “Charles Manson Grandson Wins Legal Battle Over Cult Leader’s Body” that Jason Freeman, Charles Manson’s purported grandson, whose grandmother was Manson’s first wife, was one of several people who was attempting to gain control of the notorious criminal’s body, since he died in November. Manson was serving a life sentence for coordinating the notorious “Helter Skelter” killing...

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| Read Time: 2 minutes | Retirement Planning

Don’t Forget These Expenses In Your Retirement Planning

Despite your best efforts to prepare for retirement, you have a good chance of being blindsided by some unanticipated expenses. A recent study by the Employee Benefit Research Institute found that 40% of retirees said their retirement expenses are higher than expected. A recent CU Insight article, “4 unexpected retirement expenses,” discusses some things that may not be on your radar, when it...

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| Read Time: 3 minutes | Asset Protection

Virginia Supreme Court Examines Power of Attorney Statute

In 2010, Bobbie Wynder appointed Leroy Mangrum to be her attorney-in-fact by a general power of attorney. She died in June 2013. A year later, Wynder’s four stepchildren, also the beneficiaries under her will, filed a suit against Mangrum for disclosure of all transactions and financial records from his time as Wynder’s attorney-in-fact. From the partial accounting he provided,...

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| Read Time: 2 minutes | Asset Protection

Should I Have a Reverse Mortgage in Retirement?

Many of us in our late 50s and early 60s, start thinking about what retirement is looking like and often it’s not a rosy picture. Therefore, we scramble and hopefully increase our retirement savings. A reverse mortgage may serve as both a retirement tool and provide a senior with a degree of financial liquidity and flexibility. Here’s how it...

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| Read Time: 5 minutes | Probate

Who Can Sue the Personal Representative of an Estate for Wrong-Doing?

The South Carolina Supreme Court in Fisher v. Huckabee addressed who may bring a civil action on behalf of the estate of a deceased person, when the personal representative of the estate is also a potential defendant in the case. Alice Shaw-Baker lived in Charleston and had no immediate family. She allegedly had an agreement with Bessie Huckabee, Kay Passailaigue Slade and Sandra...

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| Read Time: 2 minutes | Asset Protection

What’s Your Business Worth?

As Southcoast Today reports in the recent article, “Retiring after you sell your business? It may not be as simple as you think,” many business owners don’t have a sense of what their business is worth. The simple answer is that it’s worth what someone else is willing to pay for it. However, there are many factors that need to be considered when...

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