by Leonard Baer | Nov 16, 2023 | Articles, Estate Planning, Financial Planning
A common question asked by clients preparing a will or trust, and their children, is whether or not the beneficiary will have to pay any taxes on their inheritance. Before this question can be answered, the beneficiary needs to understand the term “taxes”...
by Leonard Baer | Oct 16, 2023 | Articles, Estate Planning, Financial Planning
Many of my clients who set up trusts, leave their assets outright to their children in equal shares when they die. There is certainly nothing wrong with that, but there may be a better way to protect these shares, and their inheritance. Instead of leaving your assets...
by Leonard Baer | Sep 22, 2023 | Articles, Estate Planning, Financial Planning
Many people believe that joint accounts are a good way to avoid probate and transfer money to loved ones. But while joint accounts can be useful in certain circumstances, they can have dire consequences if not used properly. Once money is deposited in a joint account,...
by Leonard Baer | Aug 29, 2023 | Articles, Estate Planning, Financial Planning
Many clients have asked what they can do for their children or grandchildren with special needs, to ensure they are taken care in the event of an emergency. There are several options which I have outlined: Buy enough life insurance.A parent or grandparent is...
by Leonard Baer | Jul 14, 2023 | Articles, Estate Planning, Financial Planning
Many of my clients have asked about making gifts to their children or grandchildren as many are now graduating from college and beginning new lives. Graduates will soon be showered with gift cards and cash, but before giving cash or buying the latest Apple accessory,...
by Leonard Baer | Jul 14, 2023 | Aging, Articles, Estate Planning
A Power of Attorney is probably one of the most important legal documents that is prepared, as it gives someone enormous authority and responsibility to act on your behalf. Saying that, a common question I am asked, is under what circumstances can the power of...
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