Many clients have questions and confusion regarding which of the assets in their respective estates must go though the process of probate after their demise. Assets that are not held in a trust, held jointly with rights of survivorship or that do not have named beneficiaries must pass pursuant to a will, or under the …more

According to a survey undertaken by Bankrate.com, approximately half of Americans are without savings that can last them more than three months if they lose their income. The implications are that most Americans would actually be unprepared for a financial emergency. The study put the number at 25% of the country having no funds to …more

Many boomers are financially unprepared for retirement. In fact, a recent Associated Press survey shows that most boomers are nowhere near ready for retirement. What’s the problem? Unfortunately, many boomers have succumbed to some financial planning myths that simply won’t fade. And the more you believe the prevalent financial planning myths, the more of a …more

Individual Retirement Accounts (“IRAs”) are a very popular investment vehicle for retirement, but IRAs also need to be taken into account when contemplating one’s estate plan. Although IRAs can be used to provide for one’s intended heirs either directly or through a trust, proper planning is still required to ensure that the beneficiaries truly benefit …more

I had a conversation with a friend who recently retired and he told me how he has been through several financial advisors over the years. Several of these advisors steered him to invest in areas he was not familiar with but he felt those advisors were the pros. So he followed their advice and the …more

For the past year, since the first of the Baby Boomer Bulge reached the age of 65 years, the estimates are that 10,000 Baby Boomers are retiring each day – yes, that is correct – each and every day. Also, from reliable statistics around 70 – 80% of all Baby Boomers have realized they have …more

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Many people wonder if it is a good idea to give their home to their children. While it is possible to do this, giving away a house can have major tax consequences, among other results. When you give any individual money or property valued at more than $13,000 in any one year (to go up …more

I am approaching the time when I will have to make the big decision. When to retire and start collecting Social Security. Everywhere I turn I read statements and warnings like the following: If you decide to collect Social Security benefits at sixty two(which is the youngest age you can start collecting), your monthly payments …more