July 2012 Archives

Tips for adult children in funding elderly parent's long term care, P.2

In our last post, we began speaking about a number a steps one can take to avoid a situation where long-term care expenses get out of hand and leave a family financially overwhelmed. We already mentioned the importance of taking time to sign an elderly parent up for Medicaid and Medicare, as well as obtaining a durable power of attorney.

Tips for adult children in funding elderly parent's long term care, P.1

Medicaid planning and long-term care planning is certainly an important aspect of estate planning, and various strategies can be employed to ensure that one is able to take full advantage of the program. But even when an elderly parent is able to obtain Medicaid, costs for long term care are not completely taken care of, and family can end up being responsible for paying those costs.

Jackson family dispute involves allegations that will was fraudulently executed

Amid a family dispute over the estate of the late Michael Jackson, some members of the Jackson family have accused others of kidnapping the 82-year-old Katherine Jackson in an effort to win her over in a fight over Michael's fortune.

How to reduce the probability of a will contest, P.2

In our previous post, we began looking at various strategies and approaches to estate planning that will help reduce the likelihood of a will contest later on down the road. As we noted, will contests typically involve disgruntled family members or close friends who feel they've the testator's will treats them unjustly or inequitably.

How to reduce the probability of a will contest, P.1

Will contests, as many of our readers know, are lawsuits brought in probate court to challenge the validity of a Last Will and Testament. Will contests like the current one over the estate of the famous painter Thomas Kinkade are not completely unavoidable. With good planning and a little foresight, the probability that one's estate will be plagued with a will contest can be reduced, even if not eliminated.

Thomas Kinkade estate subject of dispute between his longtime wife, girlfriend

Our readers may have already heard about the death of Thomas Kinkade, the famous "Painter of Light," back in April. At present, a will contest over Kinkade's estate is going on between the woman who was his wife of 30 years and his girlfriend of 18 months. Kinkade and his wife were estranged at the time of his death, she having filed for divorce in 2010.

Potential changes in estate, tax law leave wealthy scratching heads

When it comes to estate planning in 2012, one thing is for sure: it is difficult to know exactly how to plan. This is because of potential changes that are in store. As our readers may know, the current gift-estate tax lifetimes exemption amount will be dropping from over $5 million to $1 million in 2013, unless Congress determines otherwise. In addition, President Obama has proposed a new budget plan for 2013 that would effectively undo years of tax policy under which income and estate tax rules have been separate.

Mr. Teiger, Thank you very much for your time and results. I will definitely recommend you & your firm to anyone who wants to be treated professionally courteously and needs results.Hope all is well.Again...thank you. Regards, Paul L.

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