As children grow older and leave the home, as retirement takes away much of the interaction with work contacts, and as the possible loss of a spouse impacts an elderly individual, being alone becomes the norm. Unfortunately, it can also be a dangerous problem if you don’t plan ahead for how you can stay socially […]

If you were party to an alimony arrangement where the other spouse has received benefits, it’s not uncommon for circumstances to change over time. Alimony recognizes that one party should be receiving support and that another party is responsible for providing it, usually for a set period of years or until certain conditions are met.  […]

If someone comes to you seemingly out of the blue to make an offer on your business, tread carefully. Although this can seem exciting, you need to carefully vet this individual and determine whether it’s the right fit for your business.  One of the biggest problems with the unsolicited offer is that it pulls attention […]

Putting together wills and powers of attorney are cornerstones of estate planning. In the aftermath of 9/11, an attorney in South Carolina approached first responders and firefighters only to learn that as many as 80 percent were without these critical documents.  While we often suggest on this blog that everyone have a will, it’s especially […]

If you tuned into yesterday’s post, you saw the basic information about how holding companies work and the general situations where they make sense for either an individual or a corporation. Today, we’re going into a little more detail about holding companies.  Many large holding companies will put the entity receiving income from subsidiaries in […]

Leaving behind a legacy after you pass away requires perceiving and planning to avoid several common pitfalls. Make sure you’ve completed the estate planning process at least once in a comprehensive manner, with yearly check-ins scheduled. Watch out for these common issues:  Failing to include contingency beneficiaries on a retirement account Not planning for the […]

Under federal guidelines, couples operating under the protections of marriage are eligible to pass on assets without facing gift taxes or other taxes. In combination with the fact that the $5.34 million estate tax exclusion is now portable (meaning that it can be passed on to a surviving spouse), there’s never been a better time […]

Have you ever heard of the Cyprus Trust? Using an international trust could be an option for you if you’re hoping for effective asset protection, but you should always walk through the specifics with your estate planning attorney. In order to set up a Cyprus international trust, it’s not required that either beneficiary be tied […]

Business succession planning is difficult to begin with, which is why so many people avoid doing it at all. That’s not a good approach, however, because poor planning could turn into a real problem down the road. When it comes to businesses owned by a family, it seems like this one area where multiple challenges […]

The costs of nursing home care are stifling at best and exorbitant at worst. Even a loved one who considers himself or herself to have a fair amount of savings might find it frustrating to realize how quickly that money can be spent after just one nursing home incident.  Less than five percent of elderly […]