Avoid This Major Mistake When Adding an IRA to Your Estate Plan

4 September 2018

Avoid This Major Mistake When Adding an IRA to Your Estate Plan
 

Some people assume that because they’ve named a specific heir as the beneficiary of their IRA in their will or trust that there’s no need to list the same person again as beneficiary in their IRA paperwork. Because of this, they often leave the IRA beneficiary form blank or list “my estate” as the beneficiary.

But this is a major mistake—and one that can lead to serious complications and expense.

Ensure Your Kids Are Properly Cared For No Matter What Happens

24 August 2018

Do Your Homework to Ensure Your Kids Are Properly Cared For No Matter What Happens

It’s back-to-school time again, and when it comes to estate planning you may have homework to do. As a parent, your most critical—and often overlooked—task is to select and legally document guardians for your minor children. Guardians are people legally named to care for your children in the event of your death or incapacity.

The Ins and Outs of Collecting Life Insurance Policy Proceeds

16 August 2018

The Ins and Outs of Collecting Life Insurance Policy Proceeds

 

Unlike many estate assets, if you’re looking to collect the proceeds of a life insurance policy, the process is fairly simple provided you’re named as the beneficiary. That said, following a loved one’s death, the whole world can feel like it’s falling apart, and it’s helpful to know exactly what steps need to be taken to access the insurance funds as quickly and easily as possible during this trying time.

Before Agreeing to Serve as Trustee, Carefully Consider the Duties and Obligations Involved—Part 2

27 July 2018

Before Agreeing to Serve as Trustee, Carefully Consider the Duties and Obligations Involved—Part 2

 

Last week, we shared the first part of this series explaining the powers and duties that come with serving as trustee. Here in part two, we discuss the rest of a trustee’s core responsibilities. 

 

Trustee Duties

19 July 2018

Before Agreeing to Serve as Trustee, Carefully Consider the Duties and Obligations Involved—Part 1

 

If a friend or family member has asked you to serve as trustee for their trust upon their death, you should feel honored—this means they consider you among the most honest, reliable, and responsible people they know.

Mecaid Overview - Donald Baranski

18 December 2017

MEDICAID

 

When Medicaid recipient dies:

 

Half the median value of the homes in the County goes to family.

 

EXEMPTIONS:

 

Spouse                         1.         Community spouse lives in house

 

Children                       2.         Minor children or handicapped child lives in home

 

Family Member           3.         Family member lives in home who cared for Medicaid recipient for at

The Seller Disclosure Act

21 May 2017

The Seller Disclosure is a form that is statutorily required when there is a transfer of real estate. There are a few instances of transfers that do not require the disclosure form, but those are in very specific situations. Generally, the Seller Disclosure form is required.

The Seller Disclosure Act requires the seller to make a statement that discloses all of the conditions of and information about the property. This information is based on good faith, meaning that the seller is only required to disclose of information that he/she is aware of at the time of disclosure. The seller may be required to make additional disclosures after the delivery of the statement if the seller, prior to the transfer of the property, becomes aware of additional conditions. If the condition is dangerous, then the seller may be held liable for any injuries that occur due to the condition.

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