Archive for December 28, 2012

Write Your Will With Care

What you write in your Will or Trust may affect others for decades.

The New York Times reported on Dec. 13, 2012 that a Florida woman  — who says that Louis Armstrong, the famous jazz artist, was her father — is breaking her long silence about what she considers “my parents’ secret”. Why? She says she’s doing so because the estate of Louis Armstrong never recognized her existence. Armstrong died in 1971.

Not only did Armstrong leave nothing in his Will for her, but Armstrong’s last wife, signed an affidavit saying that Armstrong had no children. Ouch! » Read more..

Your Estate Plan: Your Last Conversation with Your Family

Your estate plan is really your last conversation with your family and friends, isn’t it? As such, it can reverberate for decades.

So, what can you do to make it an expression of love rather than pain? » Read more..

Who Inherits the Mortgage & the Credit Card Debt?

Family members typically aren’t responsible for debt held solely in the name of a deceased relative, but creditors still have certain rights to payment. Whether the creditors get paid ultimately depends on the value of the assets owned by the deceased. » Read more..

Uncle Sam’s Year-End Gift to You

Starting in 2013, the annual exclusion amount from gift taxes will increase from the current $13,000 per year to $14,000. » Read more..

When Should I Review My Estate Plan?

Estate planning is all about control – your control. If you don’t take timely steps to plan, you may not like the outcome. » Read more..

Where Should I Keep My Estate Plan Documents?

Now that you’ve created an estate plan, where should the documents be kept?

The answer depends on the document, and whether you’re talking about the original document or a copy. » Read more..