The intricacies of an inheritance get trickier when that gift from beyond includes an individual retirement account (IRA). That’s because IRAs often involve the IRS. Just how the recipient handles the inherited IRA depends on several factors, including whether the recipient is a spouse. It’s probably best to loop in your financial advisor or tax […]

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As the old saying goes, there are only two certainties in life: death and taxes. While Uncle Sam will always be waiting in the wings for his fair share, you can create a family financial records almanac to help ease your family’s stress and emotional toll during a health crisis or passing. It’s common in […]

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The number of second marriages in the U.S. has nearly doubled in the last three decades to 42 million adults, according to Pew Research Center. Marriage do-overs often stir estate planning challenges for blended families that should be addressed early on. “Memories fade and intentions change,” warns Derek Hamilton, a partner at Elser Financial Planning, […]

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There’s more to creating and sharing a family financial legacy than simply making sure your loved ones know where the accounts are held or what the passwords are (although be kind and share those, too!). A smooth financial knowledge transfer is a prudent and powerful gift. If you and your spouse aren’t already co-piloting the […]

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There are certain things in life you don’t like to think about: root canals, the mysterious leftovers in the back of the fridge, septic tank maintenance. And that brings us to estate planning. But if you don’t go there, you could stick your loved ones with just the same kind of painful, stinky, expensive mess […]

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Property is one thing. Do you also have a message to pass on to your heirs? Ethical wills are a simple but often overlooked opportunity in estate planning. An ethical will can be a powerful tool for shaping your legacy and creating peace of mind. Financial estates can divide families and have unintended consequences that […]

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It happens all too often. A married couple owns a piece of real estate such as a vacation home. One spouse falls ill with a crippling disease like Alzheimer’s, and unfortunately, though the couple may have an advance directive for healthcare decisions, they don’t have a “durable power of attorney” to make financial decisions if […]

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No one likes to think about a serious illness or death, but developing an estate plan can be a loving way to take care of your family after you are gone. The basic components of an estate plan could include a will, a living trust, and power of attorney. But the first step is to […]

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Let’s face it—when thinking about how we want to spend our time, estate planning doesn’t really bubble to the top of the list. The checklist of considerations can be long, beneficiaries need to be named, and many of us are hesitant to have “the talk” with our loved ones.  And beware—a taxable account may slip […]

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In the parenting world, it’s an exacting task to treat all children fairly, despite their different personalities and capabilities. Certainly, most parents exert much time and effort to ensure one child never feels less loved than another, and many will cement that in their estate planning. But there are times when unequal treatment might be […]

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