Is Your Will The Final Word? Not Necessarily

November 25th, 2013
A will may say to divide an estate equally among three children. But if a particular account is titled to pass to just one, only that beneficiary will get the account. Your Last Will and Testament is the legal document to put your wishes in writing a… Read More
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Are You A Money Manager For Others?

November 22nd, 2013
If you’re handling the finances for an older family member or are about to do so, some sticky challenges can pop up quicker than you think. Managing your personal finances can be a challenge. But what if you had to manage money for someone else? Ma… Read More
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Are You A Money Manager For Others?

November 21st, 2013
If you’re handling the finances for an older family member or are about to do so, some sticky challenges can pop up quicker than you think. Managing your personal finances can be a challenge. But what if you had to manage money for someone else? Ma… Read More
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"Smart" Giving

November 20th, 2013
A tax deduction for charitable giving isn’t guaranteed just because you’re feeling generous. As with everything in tax law, it’s important to follow the rules. As the holiday giving season begins with the tax year ending shortly thereafter, now… Read More
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Your Business Exit: By Design Or By Default?

November 19th, 2013
What will be the most likely exit scenario from your business when the time comes? If you own a small business, what will your last day at work be like? What is your exit strategy? The answer hinges on whether your exit will be by design or by defaul… Read More
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Categories: Charitable Giving

What's In Store For The Estate And Gift Tax Exemption In 2014?

November 15th, 2013
Starting in 2014 … the basic exclusion will go up to $5.34 million per person, from $5.25 million this year. [However,] there will be no change in the annual exclusion, which allows you to give $14,000 in cash or other assets each year to… Read More
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Handling The Assets Of Your Elderly Loved One

November 13th, 2013
Millions of Americans are managing money or property for a loved one who is unable to pay bills or make financial decisions. This can be very overwhelming. But, it’s also a great opportunity to help someone you care about, and protect them from sca… Read More
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Share Your Financial And Estate Plans With Your Family in Ann Arbor

November 12th, 2013
Give a copy of your wills, trusts and powers of attorney (financial and health care) to anyone named or authorized to act on your behalf, and store the originals at home; otherwise, your children could have trouble getting them at the critical time.… Read More
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IRS Dissects Trusts with Pass-Through Entities

November 11th, 2013
So make sure the trustee is one of the officers of the company, which in a family business is pretty likely anyway, and you are all set right?  Not so fast according to the IRS’ Associate Area Counsel who authored TAM 201317010. Trusts can acc… Read More
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List It Or Leave It: Should You Pay For Nursing Home Care With The Family Home?

November 8th, 2013
My mother went from private pay to Medicaid pay in her nursing home January 1, 2013. She now has zero money and all of her Social Security goes to the nursing home … Should I sell [her] home and effectively turn all of the assets over for her care… Read More
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