Special Needs Trust for Disabled Children
Diversity comes in many forms and many related ways of accommodating different needs. When parents are planning for the needs of children with disabilities, a product that should be considered…
529 College Savings Conversion to Roth IRA
Transferring wealth to children will become a touch easier in 2024. Buried in the estimated 4000-page Consolidated Appropriation Act of 2023 that passed at the end of 2022, was the…
Prenuptial Agreements
Couples are often wary to bring up the dreaded P word when discussing their nuptials. After all, who wants to ostensibly discuss a divorce when there is an impending marriage…
Per Stirpes or Pro Rata? You probably want Per Stirpes
Periodically checking and updating beneficiary designations on retirement accounts and life insurance is prudent. The next time you navigate the online portal or the old school paper form to write…
Co-Signing Liability
On occasion, you or someone you know might be asked to co-sign a financial obligation for the purchase of a car or a house or the lease of an apartment…
Selling the Family Business to Children
Parents that have built a successful business and have raised capable children might find the proposition of selling the family business to the children compelling. As with so many decisions…
beautiful young family hand in hand walking in park
How Do Blended Families Structure Their Wills?
When people come together and vow to spend the rest of their lives together in wedded bliss, they sometimes bring to the relationship a child or children from a previous…
Remove Beneficiary Designations on Non-Retirement Accounts
Non-retirement investment accounts are often set up with wealth management firms. When the account is set up, there is an option to put a beneficiary designation on the account and…
Fractional Ownership of Family Property
In most families, the parents dream of leaving a legacy to their children. Of course, the parents want to create a legacy in terms of intrinsic family values and ethics…
The Multi-Pronged Approach to Paying for Your Child’s Education
As higher education costs continue to rise, it’s important to consider how best to fund your child’s or grandchild’s education. I propose a multi-pronged approach to utilize tax-advantaged 529 plans,…
