Blog – Estate Planning

Are you Ready?

An experience with a client this week has reminded me yet again of the need to be prepared. What would happen if you or your spouse fell ill or suddenly became incapable of managing the family’s financial affairs?

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Account Registrations as an Estate Planning Technique

I keep having this same conversation with clients about how essential account registrations are when you consider estate planning. Maybe some clarification and examples will help.

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Account Registration Can Have Unintended Consequences

Joint tenants with rights of survivorship (JTWROS) accounts, tenants by the entirety, power of attorney, life use, trusts and trustees, transfer on death (TOD), payable on death (POD), IRAs, beneficiaries – so many registrations and name attachments to an account. Are you going to achieve the results you want based on how your accounts are […]

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Digital Estate Plan

The recent cyberattack on the pipeline facility in Texas seems to be an appropriate lead-in to remind individuals about a potential digital issue. I hope that you are diligent about protecting your computer, your phone, and other electronic devices. Are you diligent about backing up data in case you have a hard drive crash, or […]

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Charitable Options that Can Save Taxes

The pandemic and other disasters like the local floods in 2005 and 2011, Hurricane Katrina, 9-11, and more show how generous Americans can be. Most want to give regardless of the tax deduction- and yet the tax deduction can also make it more advantageous.

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Time for Spring Cleaning

Spring is upon us, hopefully, we are through with snow for the year. Many individuals see this as a time to do spring cleaning – and certainly is a great time to get rid of paperwork that is no longer needed. What can you get rid of? What should you keep?

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Consideration of Life Insurance

Like all insurance, life insurance is meant to protect against the unexpected and manage the financial hardship that an event can create. Homeowner’s insurance protects you against the expenses of a fire. Auto insurance protects against the expense of an accident. Life insurance is meant to protect against the loss of income should death occur.

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Gifting 101

The United States is known as one of the world’s most giving countries when “something happens.” This something could be a hurricane, flood, fire, or most recently, the pandemic. We certainly appreciate Planning with Purpose clients in supporting our efforts to help Mom’s House over the years. I also know that many of you are […]

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More on your Financial To Do List

Last week, Jen’s post centered around some recommendations for starting to prepare for your 2020 income tax returns. Hopefully, you are reviewing accounts for tax harvesting of losses, considering Roth conversions, working to maximize itemized deductions if you are going to itemize, and getting your paperwork organized.

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Asset Protection

Our August 20th post discussed the definition, the concerns, and some options regarding long-term care. One of those options presented was protecting your assets. Staying at home while you still need some care can mean an aide coming into the house a few hours a day or a few hours a week. Maybe you need […]

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