End-of-the-Year Money Moves Here are some things you might want to do before saying goodbye to 2013. What has changed for you in 2013? Did you start a new job – or leave a job behind? Did you retire? Did you start a family? If some notable changes occurred in your personal or professional life, then you will want to review your finances before this year ends and the next one begins. Even if your 2013 has been relatively uneventful, [...]
You don’t need to be wealthy to make an impact and get a win-win. Do you have to make a multimillion-dollar gift to a charity to receive immediate or future financial benefits? No. If you’re not yet a millionaire or simply a “millionaire next door,” yet want to give, consider the following options which may bring you immediate or future tax deductions. Partnership gifts. These gifts are made via long-term arrangements between donors and recipient charities or non-profits, usually with [...]
How Financial Planning Has Changed for Same-Sex Couples Retirement & estate planning strategies are being greatly altered. When the Supreme Court affirmed the legality of same-sex marriage in June, its ruling profoundly altered the financial planning landscape for gay and lesbian couples – resulting in some “night and day” differences. Yet in looking at the financial “before and after,” same-sex spouses and their advisors must also consider the “when and where” – because the Supreme Court ruling only applies to [...]
Setting Up Your Estate to Minimize Probate What can you do to lessen its impact for your heirs? Probate subtly reduces the value of many estates. It can take more than a year in some cases, and attorney’s fees, appraiser’s fees and court costs may eat up as much as 5% of a decedent’s accumulated assets. Think tens of thousands of dollars, perhaps more.1 What do those fees pay for? In many cases, routine clerical work. Few estates require more [...]
You don’t need to be wealthy to make an impact and get a win-win. Do you have to make a multimillion-dollar gift to a charity to receive immediate or future financial benefits? No. If you’re not yet a millionaire or simply a “millionaire next door,” yet want to give, consider the following options which may bring you immediate or future tax deductions. Partnership gifts. These gifts are made via long-term arrangements between donors and recipient charities or non-profits, usually with [...]