retirement

Importance of Coordination of Life Insurance and Estate Planning

Importance of Coordination of Life Insurance and Estate Planning

With every client we discuss the important of Life Insurance as well as its non-probate character, in other words, as long as a beneficiary is named other than the estate, the policy will pay out directly to that beneficiary, rather than passing according to will (and waiting for the Court’s…

Will I Automatically Inherit my Husband’s House?

Will I Automatically Inherit my Husband’s House?

  Many married clients assume that the surviving spouse will automatically inherit the real estate of their deceased spouse. Without a Will however, the Texas Intestate Succession rules govern. For example, in the case of a married couple with children from their marriage only, the surviving spouse will inherit the…

One in Three Americans will Receive an Inheritance – Is Yours is Protected?

One in Three Americans will Receive an Inheritance – Is Yours is Protected?

One in every three Americans will receive an inheritance during their lifetime, according to a study by Ohio-State researcher Jay Zagorsky. Unfortunately, much of that windfall is lost through spending or bad investing. Mr. Zagorsky offers four steps for handling an inheritance: (1) assess the current financial situation; (2) figure…

The Season for Giving: Donate Appreciated Assets to boost your Charitable Impact

The Season for Giving: Donate Appreciated Assets to boost your Charitable Impact

Many clients donate to charities in the spirit of holiday giving. Not all gifts have the same impact, however. Did you know that donating appreciated assets can have a bigger financial impact on the charitable organization than a gift of the cash proceeds from that same asset? Donating the appreciated…

What Happens to my Mortgage at my Death?

What Happens to my Mortgage at my Death?

Did you know that no one is required to take possession of a property (and mortgage) unless they want to do so?  Simply leaving a mortgaged property to your heirs does not necessarily subject them to your debts. However, if your heirs want the property, they must either take over…

CMS Announces Spousal Allowance Amounts unchanged for 2016

The 2016 Community Spouse Resource Allowance will remain at $119,200 (maximum) and $23,844 (minimum), as recently reported by the Centers for Medicare and Medicaid Services (CMS).  In addition, the spousal monthly maintenance needs allowance will remain $2,980.50 a month.  For medicaid eligibility, the income cap is projected to remain at $2,199.…

my Social Security: Have you created your online account?

my Social Security: Have you created your online account?

my Social Security is a website managed by the Social Security Administration and allows users to create personal accounts, update address and contact information, track earnings, estimate future benefits and manage current benefits. Users may even order replacement medicare cards, order replacement SSA-1099 forms and state/change direct deposit. To create…