estate planning

It’s August, So It Must Be Make-a-Will Month

Posted on 08/20/2014 by |Money and Work | Comments

Money & SavingsSo August is National Make-a-Will Month. Who knew? Getting a will isn’t the most pleasant of tasks, and consequently, too few people do it. A recent survey of more than 2,000 people by the online legal service Rocket Lawyer found that 64 percent don’t have wills. The biggest reason cited by folks: They just never got around to it. Some said they didn’t want to think about death. You might believe that only wealthier families need a will. You’d be …

Learn How Creditors Can Snatch Your (Inherited) IRA

Posted on 06/13/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsA U.S. Supreme Court ruling has just made estate planning a lot more cumbersome for some high-net-worth parents who want to leave tax-free money in a Roth IRA to a child. Retirement accounts are protected from creditors in bankruptcy cases so people don’t wind up destitute in old age. However, the court unanimously ruled on Thursday that this is not the case for those who inherit IRAs. The court decision involves a case of a woman who inherited about $450,000 in an IRA from her mother …

Have You Had “The Talk”? New York Times Tackles a Thorny Issue

Posted on 05/25/2013 by |Aging, Home & Family Expert | Comments

CaregivingI was recently interviewed for a New York Times article, The Talk You Didn’t Have With Your Parents Could Cost You, about handling parents’ financial and legal affairs after they die. The article is an important one — both for adult children who may be dealing with these issues, and for parents who may be reluctant to share personal and financial information with their kids. My message is pretty simple: To anyone who may have to deal with estate matters after …

The Takeaway: Inheritance Wake-up Call for Boomers (That Windfall Isn’t Coming)

Posted on 06/14/2012 by |Brooklyn, NY | Comments

Bulletin TodayWhither boomer’s inheritances? Not coming, perhaps. “The post-war generation is living longer and increasingly using their savings to live out their retirement,” the Wall Street Journal notes. Which could mean many boomers are in for an unpleasant wake-up call soon.

The Takeaway: Estate Tax Battle Returns

Posted on 06/5/2012 by |Brooklyn, NY | Comments

Bulletin TodayThe estate tax has long enjoyed far more notoriety than its size merits, subject to ample political debate despite the relatively small number of American families it affects (for now, those who inherit more than $5 million). With $7 trillion in tax hikes and spending cuts set to take effect next year unless Congress acts to stop them, debate about this politically-charged tax–opponents have labeled it the “death tax”–could rev up again soon.

Many Boomers Don’t Have Wills, Poll Finds

Posted on 05/1/2012 by |Money and Work | Comments

Bulletin Today  Who wants to think about death, particularly your own? Drafting a will is an unpleasant task, so startling numbers of Americans say they never get around to it. A new survey finds that 41 percent of boomers (born 1946 to 1964) and 71 percent of people under the age of 34 don’t have wills. Procrastination was cited as the biggest reason (34 percent), followed by feelings that it was unnecessary (22 percent)  or too expensive (21 percent). Don’t tell Fido, but 61 …