Late rock star, Prince, once sang, “Money didn’t matter yesterday and it sure don’t matter tonight.” That may have been Prince’s attitude toward money, but it was definitely his attitude about estate planning—he had none! If there had been a plan, his estate could have been settled years ago....
You spend a lifetime earning, saving, acquiring. But the old adage is true—you can’t take it with you. So, what do you do with your assets when you’re gone? How do you want them distributed? That’s where a good estate plan comes in. However, some estate plans are based...
Many of us who have lived a while have been conditioned to think that estate taxes are the number one issue when creating an estate plan—how do you avoid them; how do you reduce them? But in 2020, the first $11.58 million of a taxable estate is free from...
Woe to the person who inherits a Health Savings Account. Alhambra's Bob Williams describes the pitfalls and what to watch out for.
For months now, we’ve been told by the media and by friends and neighbors about all the ways people have been affected by COVID-19. But here’s one you may not have heard about—losing the family home after the death of parents or grandparents who were receiving Medicaid benefits for...
Your estate planning is complete. A living trust was created because it was the best vehicle to accomplish what you want to do. Now you can breathe easily. Or so you think.
Over the years, I’ve had new clients come to me who had invested lots of time and money...
It was called the Great Wealth Transfer, the World War II generation passing its wealth to their kids, the Baby Boomers. Well, it’s about to happen again. Cerulli Associates, a financial industry analysis company, estimates that during the next 25 years $68 trillion will be passed on to the...
Tom
Petty is in good company, not just as a rock-n-roll legend, but as another star
whose estate is in turmoil. The plethora of lawsuits are Free Fallin’ as
Petty’s wife, Dana, and the two daughters from a previous marriage, Adria and
Annakim, fight over control of the $95 million he left behind.
Unlike
Aretha...
May you live in interesting times. Although that sounds like an ancient blessing, it’s believed to be a Chinese curse casting instability and uncertainty on the person who hears it.
Blessing or curse, it’s a great description of the year we’ve just come through, and in spite of all the...