Now that you have an estate plan in place, you should test it by doing a “fire drill.” Just like a fire drill at school or work practices how you evacuate a building safely, a fire drill for your estate plan tests the accessibility and operability of your plan during an emergency or crisis. Ask
On September 18, the Veterans Administration (VA) published new rules that make it more difficult to qualify for this important benefit. For example, any gifts made in the past 36 months, either to a family member or to an irrevocable trust, would be penalized. Likewise, an investment in an annuity would also be penalized.
In speaking with a friend whose mother had recently died, he shared with me a beautiful story about a quite unexpected gift his mother had left for him and his brother. He was so moved by it that it brought him to tears. He explained that when he contacted the local funeral home, he learned
What happens to my frequent flyer miles when I die? This is a common question that we hear from clients when we are assisting them with their estate planning. Frequent Flyer miles and other reward points can be valuable resources. Many credit card companies give tens of thousands of miles or points for opening an
Life insurance provides security and peace of mind that our loved ones will be financially taken care of even if we are no longer around. However, how do you know if you have purchased enough or gotten the right policies? For many (including us) the first foray into life insurance may have felt like shooting
Safe deposit boxes are commonly used to protect valuable belongings and important documents (such as insurance policies, financial documents, a will or a trust). However, it is easy to overlook what will happen to that safe deposit box after you die or you became incapacitated. The unintended consequences could be devastating or as your
I often get asked this question by clients or their adult children when a spouse or family member needs assistance with activities of daily living and requires extra care. This could be in the form of adult day care, in-home care, assisted living, or skilled nursing. None of these are covered by Medicare and all
In the excitement of buying a home, filling out paperwork such as how do you want to hold title to your new home can often be a rushed process. As a result, many homeowners simply choose the one that sounds “right” without knowing the true ramifications or potential consequences down the road. In this video,
It is the process or re-titling or changing the name on an asset from your individual name to that of your trust. I break down some basics about funding in this video. Creating your revocable living trust is wonderful, but not if you forget to fund it with your assets. However, creating your trust is
There are con artists out there trying to scam your parents, grandparents, and other aging relatives and friends. Here are the Top 10 Elder Exploitation Scams and how you can help seniors in your life and community avoid them.
We’ve all head that we should avoid probate but may not necessarily know the reasons behind the desire. Kevin explains probate in a nutshell in California and provides insights on the top five reasons why you want to avoid it.
The costs of college can be staggering. Kevin answers questions about protecting college savings and 529 Plans specifically. Watch to learn about tax deferred growth when preparing the education of your child or grandchildren.
Have you found it difficult to decide who you want to be responsible for you and your financial estate should you die or become incapacitated? Is this holding up your ability to either start or finish your estate planning? Tune in to find out some tips to help you get over the hump so you
This is a common question we get from adult children and their aging parents when they begin to think about estate planning. Especially when it comes to Mom & Dad’s home and if it’s a way to avoid probate. Watch the video for ideas and thoughts on what can happen and the tax implications in