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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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Donor-Advised Funds Allow More Time To Choose A Charity in Ann Arbor

November 7th, 2013
Selecting a charity that will use your money wisely and effectively isn’t easy, particularly during this hectic time of year. Donor-advised funds are one solution. Sometimes you can have your cake and eat it too. Or in the case of a donor-advised f… Read More
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Blended Families Encounter Caregiving Difficulties In Ann Arbor

November 6th, 2013
“I know adult stepchildren who step up in every sense of the word, but for most of these women, disagreements with stepchildren was the most stressful aspect of providing care for the husband.” Blended families are becoming more and more common t… Read More
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Don't Procrastinate On Medicare Enrollment!

November 5th, 2013
Open enrollment for the Medicare Part D Drug plans started on October 15th. You have until December 7thto determine which is the best plan for you in 2014 and make the needed change. It could save you hundreds or thousands of dollars. It is Medicare… Read More
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Trust Funds Are Not Just For The Wealthy in Ann Arbor

November 4th, 2013
When most people think about trust funds, they envision spoiled rich kids and wealthy families trying to dodge taxes on their piles of money. But what they might not realize is that trust funds can be an incredibly useful—even vital—tool for midd… Read More
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How To Handle Debts After Death

November 1st, 2013
Can a bank collect a credit card debt owed by your deceased parent or spouse? The answer depends on a range of factors, from whether it was a joint account to where the deceased person lived. Although probate can put some undo stress on an already st… Read More
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