Archive | Finance & Work

A recipe for estate planning disaster awaits amateur ‘cooks’

As eager cooks everywhere break out their favorite time-tested holiday recipes and experiment with new ones, it is a fitting time to discuss every estate planning attorney’s least favorite year-round recipe: the estate planning disaster.

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LegalZoom sued over low-cost wills and trusts

We’ve all seen the commercials. The ones featured prominently in primetime, during sporting events, in between the news and our favorite programs. I’m talking about the commercials with former O.J. Simpson attorney, Robert Shapiro, pitching his company, LegalZoom, as the next best thing since sliced bread.

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Retiring on time despite the economic downturn

It took guts and good planning to decide to retire in the middle of the deepest recession in decades. Even so, those who did felt flickers of self-doubt when the stock market crumbled around the time they banked their final paychecks.

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Forced to retire, some take Social Security early

Paul Skidmore’s office is shuttered, his job gone, his 18-month job search fruitless and his unemployment benefits exhausted. So at 63, he filed for Social Security benefits, three years earlier than planned.

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Who will inherit your IRA?

Most people name a beneficiary when they open the account and designate a spouse or children. Therefore, when they die, the money goes to a spouse or the children. Sounds easy, right? (Not so fast).

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The Medicaid five-year look back: The gift that keeps giving

Medicaid will analyze any such gifts or transfers to determine if they are “disqualifying transfers.” If a gift is considered a disqualifying transfer, then Medicaid will assess a “penalty period” based on the value of the gift, which is a period of time during which you will not able to receive Medicaid.

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