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Long-Term Care Insurance (LTCi) Expands Gender Gap
February 26th, 2013
While life insurance has long been priced by sex, companies that provide long-term care insurance (LTCI), mainly used to cover healthcare expenses in old age or for severe illness, have long avoided it. But for the first time this year, they will int…
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Lifelong Careers – When Do You Retire?
February 25th, 2013
Pope Benedict, 85, is reportedly the first pope to retire in almost 600 years, which made his decision all the more momentous. But since the pope believed his health issues were impacting his job, the decision seems relatively clear-cut. For the grow…
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Will the IRS Challenge the Valuation of Your Gift of Art?
February 22nd, 2013
So you have there is this really cool painting that you gave away. Do you want it to be worth a lot or a little? It depends on who you gave it to. Giving someone art rather than dollars can be complicated, especially when it comes to taxes and…
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Categories: Estate Planning
The Appropriate Time for Asset Protection Planning in Ann Arbor
February 21st, 2013
…Proper Asset Protection is most appropriately done when the client knows that he or she has no outstanding claims, i.e., the skies are perfectly clear of creditors. Asset Protection is all about avoiding fraudulent transfers, not designing and imp…
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Categories: Estate Planning
Tags: Asset Protection
The Complexity of Gift Valuations in Ann Arbor
February 20th, 2013
…Good intentions do not guarantee a charitable contribution deduction. By failing to properly account and document the contribution, however, the IRS and Tax Court [could] disallow the deduction. You may think that being eligible for the charitable…
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Be Aware of Joint Tenancy Perils
February 19th, 2013
Clients are always interested in ways to avoid probate. One tool that can help accomplish this objective is Joint Tenancy, a form of co-ownership. When one co-owner dies, his interest in the real property automatically passes to the surviving co-owne…
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Are You “Keeping Up With The Joneses” Retirement Savings?
February 18th, 2013
According to new research from the ING Retirement Research Institute, more than half (52%) of the respondents in an ING U.S. consumer survey said they would be motivated to save more for retirement if their nest eggs didn’t measure up to those of t…
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Avoid the Sting of the Estate Tax Rules in Ann Arbor
February 15th, 2013
The good news is the estate tax won’t apply to as many business owners as we feared; the bad news is that when it applies, it has a nasty sting. Over the past several years, we’ve seen estate taxes go through many alterations. We’ve seen change…
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Disinheritance Challenges in Ann Arbor
February 14th, 2013
As cruel as it sounds to disinherit a child, people have their reasons. Sometimes there is no relationship. Other parents might feel the adult is well-off and does not need an inheritance. Estate planning largely involves the process of distributing…
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Tax Breaks Available for Supporting Elderly Parents in Ann Arbor
February 13th, 2013
You might be able to claim your parent as a dependent, take a dependency care tax credit, write off your mom or dad’s medical expenses or get some combination of these tax breaks. It’s that time again – Uncle Sam is knocking on your door and re…
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