Trained as a lawyer and CPA, Bob Carlson shares his original estate planning research on the pages of Retirement Watch.
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Most discussions of estate planning, including in this newsletter, focus on discrete topics and strategies. Once in a while, especially early in the year, it is good idea to step back and look at the broader picture. There are concepts and strategies common to every estate plan and estate owner. Use these concepts and strategies […]
Too many married couples are making a big mistake. They believe current estate tax law exempts them from having to plan or consider estate taxes in their plans. That misunderstanding could lead to problems. While the estate tax law enacted in early 2013 has many benefits, you need to know how to maximize them. Two […]
Many people think they have estate plans but really don’t. I’m not talking about the many people who haven’t done any planning and don’t have even a basic will. I’m talking about people who have taken action on their estate plans and yet have plans that are woefully incomplete. There is more to a complete […]
Many people believe that a will and a trust or two is an estate plan. Others think that a living trust or joint title with a spouse is all they need. That is why most estate plans are woefully incomplete. There is much more to an estate plan. Heirs and loved ones often suffer from […]
What you don’t know about retirement can hurt you. In fact, just a few wrong decisions in your investments, taxes, or estate planning could completely derail your retirement plans. Worse yet, the rules of the game keep changing, making it harder to keep up with. For these reasons, I’ve assembled all the key points – everything you need to know — into one comprehensive report. Click here for free access.
Few events disrupt an estate plan and family harmony more than a will contest or other challenge to the plan. The specific challenges might not be predictable, because they often are triggered more by emotions than finances. But the risk of a contest almost always is present, and estate owners should know that they can […]
Unique estate planning strategies are required for Individual Retirement Arrangements. Many people focus on how to build their IRA balances and how much to withdraw. The treatment of IRAs in estate planning often is overlooked. An estate plan for IRAs should answer these questions: What will be the estate tax and income tax bills? Who […]
A power of attorney is an essential part of an estate plan. You know that from past visits. The POA ensures that someone can manage your estate when you are unable to. Bills can be paid; investments can be managed; and other actions can be taken. Having a document called a power of attorney does […]
Most young people enter the work force with quite a bit of debt. Even those without debt have ambitions for cars, homes, clothes, and other things. The issue for most young adults is how to sort out their spending and saving goals. Should they pay debt first? Save for the down payment on a home? […]