Enjoy this article courtesy of STEP: “In US v Micro Cap KY Ins. Co. Inc. (No. 5:16-cv-00278, 2017 WL 1132904), the US District Court (Eastern District of Kentucky) held, on March 27, 2017, that email communications between two doctors and the a law firm, which had advised them in the formation of captive insurance companies, […]
Read More »Estate Planning for Widows
Anytime someone loses a spouse, it is important that the surviving spouse’s estate plan be revisited. As it turns out, widows often need something different than widowers.
Read More »Is Your Estate Plan as Stale as Last Week’s Ham Sandwich?
Estate plans are almost magical: they allow you to maintain control of your assets, yet protect you should you become incapacitated. They take care of your family and pets. And, if carefully crafted, they reduce fees, taxes, stress, and time delays. Estate plans can even keep your family and financial affairs private. But one thing […]
Read More »How to Make a Family Meeting a Successful Part of the Estate Planning Process
You’ve made the hard decisions, your documents are signed, your trust is funded, a business succession plan is in place. Congratulations, you’ve finished your estate planning. But have you, really? Have you explained your planning to your family? Will they understand how your plan will work and what they may need to do if you […]
Read More »How to Stop Worrying About Running Out of Money in Retirement
Many retirees today worry about having enough money for their retirement. Of special concern is if there will be enough money to provide for the surviving spouse. This is called “shortfall risk,” and it is a valid concern. People are living longer and health care costs continue rising, especially long-term care which many seniors will […]
Read More »Understanding Losses: Property
Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. However, if property has appreciated and there isn’t sufficient insurance for replacement value, any losses must be paid out of pocket. To protect your wealth from these kinds of losses, it is important to determine replacement values so […]
Read More »Understanding Losses: Liability Exposure
We live in a litigious society. Lawsuits abound, whether deserved or not. If you own property or stock that was purchased at a low price and has had high appreciation, it is at risk to litigation and creditors–even if you are not in a high-risk profession. Others may be in a private business such as […]
Read More »Should Your Power of Attorney Spring?
One of the more important decisions when drafting a power of attorney is when the document should become effective. It can be effective immediately or it can be made to be effective only when the principal becomes disabled. The latter is known as “springing.”
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