This article gives the example of a businessman who had named his son as the nominee in all his investments. Since the son was managing all the father’s investments, it was convenient. But since the businessman passed away without making a will, now his daughter is finding it difficult to prove that she, too, has […]
Read More »Forged Will Leads to Arrest
Unfortunately, it is not unusual for people to take advantage of the elderly and even to go so far as to forge a will when the elderly person passes away. It is heartening, however, that when caught the people who do this normally face criminal charges. An Arkansas woman, Kimberly Dement Dotson, has been […]
Read More »Do Not Forget Your Frequent Flier Miles
Most people who travel a lot have accumulated many unredeemed frequent flier miles or hotel reward points. What many do not know is that it is a good idea to state who should assume ownership of these loyalty reward points in an estate plan. If you take the time to read the terms and […]
Read More »Inheritance Scam Leads to Jail
People have probably been attempting to scam others out of their money for as long as money has existed. Many different schemes exist that people fall for over and over again. Recently, people have been falling for a scam involving fake inheritances. However, if the scammer is caught the result is likely to be jail […]
Read More »What to Do with an Inherited IRA
RAs are among the largest assets inherited by heirs and beneficiaries. These accounts have been able to grow to such large amounts because income taxes are deferred until the owner begins to take distributions, usually after reaching age 70 ½.
Read More »Bad Grandma!
We usually think that we can trust our relatives, especially our grandparents. However, a recent story out of Wisconsin details how one grandmother lied and stole her granddaughter’s inheritance. When Betty Coleman’s ex-husband passed away, he left a $50,000 inheritance for their granddaughter. Coleman lied in court about her criminal past so she could […]
Read More »Do Not Wait to Say Your Last Words
In a very real sense your estate plan is your last words. After you pass away, it will be the last thing that people hear from you. However, most Americans put off making an estate plan as long as they can if they ever create one at all. When we think of a person’s […]
Read More »Estate Planning for Same Sex Couples
The United States Supreme Court is considering the issue of same sex marriage. Regardless of how the case turns out, same sex couples should proceed to create estate plans. In fact, they should not wait for the Court’s decision. Many states have legalized same sex marriage, which gives same sex couples equal inheritance rights […]
Read More »A Different Sort of Inheritance Scam
Scammers have long sought to use inheritances in their nefarious plots. A woman in Brooklyn is accused of using a new twist to scam her friends out of money by making up an inheritance. An old fraud has a scammer pretending to be an attorney or estate agent. The fraudster will tell a potential victim […]
Read More »Now That’s Awkward!
An awkward part of estate planning is telling your kids how much — or how little — they’ll get. Here’s how a financial planner can help. For clients, one of the most stressful aspects of estate planning — already an emotionally difficult process — is the prospect of telling heirs what they plan to […]
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