Estate planning

Estate planning involves making decisions about how to take care of the people you love and the things you own in the event you become disabled or die.
All Questions: Estate planning
Posted January 17, 2017
Mark Smith

Mark Smith

CFP®, CPA, ChFC, CLU

The short answer is there is probably nothing to be done at this point. IF your dad would have qualified for SSDI at 64, it would have converted to a...

Posted December 18, 2016

Without a doubt, this is a difficult issue in which what you may have to do, if it's possible, is good directly to dad and ask him for a copy of the t...

Posted December 16, 2016 · New Haven, CT

Certainly we don't have enough information. My guess is that the tax basis is at your mother-in-law's death. If she had the right to the assets in t...

Posted December 14, 2016

The difference between the sales price minus sales cost and the value when your last parent died will be taxed as long term capital gain. Or loss.

Posted December 8, 2016

I noticed that your question has gone unanswered for a couple months, so hopefully this response is still relevant to you...

If her pension fund nam...

Posted December 7, 2016
John C Brandy

John C Brandy

CFEd, AAMS

Not particularly. Every good plan should account for the needs, wants and wishes of all family members, with those of legal age obviously taking prio...

Posted December 6, 2016
Eric Jorgensen

Eric Jorgensen

CFP®, ChFEBC

There shouldn't be an issue, up to $14k per year can be gifted to individuals without filing a gift tax return. However, if you're concerned the best ...

Posted November 16, 2016

Trying to stay within your wording, a "family trust" is typically created by one spouse for the benefit of the other after the death of the first spou...

Posted November 12, 2016
Eric Jorgensen

Eric Jorgensen

CFP®, ChFEBC

The trust should have a trustee who will oversee how the money is distributed. I recommend you talk to an estate planning attorney

Posted November 11, 2016

The original grantor continues to be the individual who set up the trust and will always be the grantor. The fact that he/she is dead does not change ...

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