Entries tagged: estate planning

I Need an Estate Plan – Part Four

By: Martin Glass, Esq.

Posted: May 23rd, 2016

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The first three parts of this series have been about the various advanced directives, i.e. Power of Attorney, Health Care Proxy, and Living Will.  These are all very important documents but they also become null and void upon your death. That’s where your Last Will and Testament (the “Will”) comes in.  If you don’t write […]

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I Need an Estate Plan – Part Three

By: Martin Glass, Esq.

Posted: March 21st, 2016

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“Hi, I need to get a Power of Attorney for my dad.”  You would be surprised how many times I get that call.  A daughter or son calls and wants me to prepare a “simple” power of attorney for their parent.  But before anything else, I try to find out why the parent isn’t calling. […]

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I Need an Estate Plan – Part Two

By: Martin Glass, Esq.

Posted: February 19th, 2016

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Last month I discussed the ins and outs of a Health Care Proxy.  This month I’d like to discuss its sister document, a Living Will.  This is not to be confused with a Last Will and Testament (commonly known as “the Will”). The Will does not become effective until after you die, whereas the Living […]

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I Need An Estate Plan – Part One

By: Martin Glass, Esq.

Posted: January 22nd, 2016

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Well, it’s a new year and everyone has made their New Year resolutions.  Hopefully one of those resolutions is to do an estate plan.  Unfortunately, historically the percentage of resolutions that are actually carried out is fairly low.  This is a resolution that I hope everyone keeps. Just so I’m clear, I’m talking about a […]

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Be Careful When Rolling Your IRAs

By: Martin Glass, Esq.

Posted: December 18th, 2015

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This is the end of the year.  Since many of my senior clients have to take out the Required Minimum Distribution (RMD) from all their IRA accounts, they also start to think about moving the rest of their IRA money into possibly a more productive investment.  But a word of caution, beginning this year, there […]

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Fiduciaries You May Not Want

By: Martin Glass, Esq.

Posted: October 20th, 2015

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In past articles I’ve spoken about how to appoint the proper fiduciaries (executors, trustees, guardians, etc.).  But what about those people that you don’t want? Most of my clients don’t realize that you can “dis-appoint” someone in your documents.  You actually have the ability to add almost any language you want in your documents, whether […]

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The Estates of the Rich and Infamous

By: Martin Glass, Esq.

Posted: September 25th, 2015

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Being rich and famous doesn’t always mean that you’ve got a good estate plan, and there’s no guarantee that there won’t be estate litigation contests. Here are just some examples of things that can go wrong. Sometimes it doesn’t even get to the estate plan.  In the case of famous DJ and radio personality Casey […]

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Keeping Your Inheritance in a Divorce

By: Martin Glass, Esq.

Posted: August 26th, 2015

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In past articles I’ve spoken about what documents you need to get rid of or update before, during, or after a divorce.  But what about your assets themselves?  For the happily wed, marriage should be about sharing everything, including gifts or inheritances given by parents, grandparents, or other relatives and friends. But when a marriage […]

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How Portable is the Estate Tax Exemption?

By: Martin Glass, Esq.

Posted: July 15th, 2015

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The IRS just came out with their final rulings on how portability is to be used for the federal estate tax exemption.  That statement alone probably makes no sense to half of my readers, so let me take a step back and explain. Currently there is a $5.43 million exemption to the federal estate tax.  […]

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Joint Accounts May Be a Poor Estate Plan

By: Martin Glass, Esq.

Posted: June 22nd, 2015

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Many of my senior clients see joint ownership of all their assets (such as investment accounts, bank accounts and real estate) as a cheap and easy way to avoid probate since joint property passes automatically to the joint owner at death.  They feel that joint ownership can also be an easy way to plan for […]

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