Estate Planning New Mexico
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40 Financial Things You Should Know by 40

40 Financial Things You Should Know by 40 | Estate Planning New Mexico | Scoop.it

A living will, on the other hand, is a health care directive for what should happen to you if you're unable to communicate your wishes. Guess what?

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Make sure to include pets in estate planning

Make sure to include pets in estate planning | Estate Planning New Mexico | Scoop.it
When making plans for your estate, it's a common mistake for many people to forget to include their pets. Find out why it's important to make provisions for your furry friends.
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Careful, Thoughtful Drafting Essential In Estate Planning

Careful, Thoughtful Drafting Essential In Estate Planning | Estate Planning New Mexico | Scoop.it

On April 5, 2004, Ms. Ann Dunn Aldrich wrote her Will on an “E–Z Legal Form.” In Article III, entitled “Bequests,” just after the form’s pre-printed language “direct[ing] that after payment of all my just debts, my property be bequeathed in the manner following,” she hand wrote instructions directing that all of the following “possessions listed” go to her sister, Mary Jane Eaton:

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Things to Consider When Estate Planning

Things to Consider When Estate Planning | Estate Planning New Mexico | Scoop.it

You may worry about what will happen to your house and property when you’re no longer willing or able to care for it -- particularly if you own property that has special meaning to you, such as a family home or woodlands. With so many options on the table, it’s important to research the facts, make important decisions and get paperwork started.

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The '4 Boxes' Approach to Helping Elderly Parents

The '4 Boxes' Approach to Helping Elderly Parents | Estate Planning New Mexico | Scoop.it
The "four boxes" inventory process can help your elderly parents reduce clutter, increase retirement income and bring your family closer. (Estate planning is about much more than wills and trusts.
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Avoiding the squeeze: Trusts, estates, and the new ATRA tax regime

Avoiding the squeeze: Trusts, estates, and the new ATRA tax regime | Estate Planning New Mexico | Scoop.it
The American Taxpayer Relief Act of 2012 raised the top income tax rate to 39.6%, and a new 3.8% tax on net investment income also applies beginning in 2013.
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Where there's a will, there's a way

Where there's a will, there's a way | Estate Planning New Mexico | Scoop.it

If you don't make arrangements for what will happen after you are gone, the government will step in and make all those decisions for you—and they may not be the decisions you'd choose. The process will also be more difficult and costly for your family, so it's important to do it yourself while you still can.

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Oscar Winners Teach Five Lessons On Estate Planning

Oscar Winners Teach Five Lessons On Estate Planning | Estate Planning New Mexico | Scoop.it
In conjunction with the 2014 Oscars, we can look back at past Oscar winners like Elizabeth Taylor and Frank Sinatra to see how their estates illustrate important estate planning lessons that everyone can benefit from -- even those who aren't walking the red carpet. 1. Philip Seymour Hoffman:  You Can Be [...]
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4 things to know about Alzheimer’s and estate planning

4 things to know about Alzheimer’s and estate planning | Estate Planning New Mexico | Scoop.it

Many estate planning clients have adopted incapacitation strategies, to help handle their affairs in case they become incapable of handling them. Alzheimer’s, with its creeping deterioration of the brain, is different from many other diseases, as its gradual onset provides people with an opportunity to react proactively to the limits they will endure in their future.

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Pets And Estate Planning

Pets And Estate Planning | Estate Planning New Mexico | Scoop.it

It's a common mistake of many Americans to leave some of their most beloved family members out of their estate plans.

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Five Estate Planning Tips for 2014

Five Estate Planning Tips for 2014 | Estate Planning New Mexico | Scoop.it

Estate planning can be overwhelming, which is why many people put it off until it is too late. But, I urge you to consider estate planning like any other resolution. Take it one step at a time, tailor your approach to fit your needs and desires, and reach out for help if needed. Below are some quick and easy tips to get you started thinking about your new, New Year's resolution:

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Interesting News from the World of Estate Planning

Interesting News from the World of Estate Planning | Estate Planning New Mexico | Scoop.it

Wealth presents opportunities to be intentional about providing for your long term care, your loved ones, and your favorite charities.

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Estate Planning – Blended Families

Estate Planning – Blended Families | Estate Planning New Mexico | Scoop.it
When a couple has had multiple marriages, estate planning can be more complicated. If there are children involved, especially if there are children from more.
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Whitney Houston’s Family Is Fighting – Is Estate Money To Blame?

Whitney Houston’s Family Is Fighting – Is Estate Money To Blame? | Estate Planning New Mexico | Scoop.it
Whitney Houston’s family has been through its share of disagreements since the pop diva passed away on February 11, 2012.
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Revocable vs Irrevocable Trusts

Revocable vs Irrevocable Trusts | Estate Planning New Mexico | Scoop.it

Thinking about setting up a trust for your family? Human nature being what it is, you might want to keep your options open by setting up a trust that you can change or cancel at any time. If your formerly sweet granddaughter tells you she is devoting her life to Satan worship, for example, you might want to reconsider leaving her a small fortune with which she can further her dubious goals. However, there are major differences between setting up a revocable trust and an irrevocable trust.

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The Biggest Estate Planning Mistakes You Can Make

The Biggest Estate Planning Mistakes You Can Make | Estate Planning New Mexico | Scoop.it

Estate planning is a conscious approach to organizing your personal and financial affairs in order to deal with the possibility of mental incapacity and death. 

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How your 401(k) could disinherit your kids

How your 401(k) could disinherit your kids | Estate Planning New Mexico | Scoop.it
How your 401(k) could disinherit your kids MarketWatch (blog) Citing Sterk and Leslie, Zweig notes that the system would be more consumer-friendly if 401(k) and IRA administrators adopted some assumptions that are common in the law of wills and...
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Americans' Ostrich Approach To Estate Planning

Americans' Ostrich Approach To Estate Planning | Estate Planning New Mexico | Scoop.it

When you blog about personal finance for people over 50, every so often you need to write a scold post. This is one of those times.

Today’s topic: Please stop taking an ostrich approach to estate planning.

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Paying the Debts of a Deceased Relative: Who Is Responsible?

After a relative dies, the last thing grieving family members may expect are calls from debt collectors asking them to pay their loved one's outstanding debts.
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10 steps to painless estate planning

10 steps to painless estate planning | Estate Planning New Mexico | Scoop.it

But the fact is your loved ones will have to address those questions when you're gone. And by executing a will and signing a couple other basic documents you can save them loads of aggravation and unnecessary expense -- and grant them the ability to focus on their loss.

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Celebrity deaths highlight importance of keeping your will up to date

Recent high profile celebrity deaths highlight how important it is to keep your will up to date, says a Channel Islands wills expert.

Philip Seymour Hoffman's will was discovered to be out of date when he died suddenly at the age of 47 on 2 February 2014 of a drugs overdose.

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Digital assets becoming part of estate planning

Digital assets becoming part of estate planning | Estate Planning New Mexico | Scoop.it

It's something you probably don't think about. What happens to your social media and other on-line accounts, when you or your family members pass away?

 

DOWNLOAD: Digital Estate Planning Questionnaire

 
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Estate Planning for a Global Shipping Dynasty

Estate Planning for a Global Shipping Dynasty | Estate Planning New Mexico | Scoop.it

Long before Li Ka-shing there was Pao Yue-kong. In his lifetime, shipping magnate Pao was richer and politically more engaged than Li, his next-door neighbor and close friend in Hong Kong’s Deep Water Bay. Upon Pao’s death at 73 in 1991, David Wilson, the city’s colonial governor, hailed him as”as “perhaps the first local business- man to achieve truly international stature.”

 

He left behind a great fortune, and today two members of the list of Hong Kong’s richest owe the foundation of their wealth to that fortune–No. 8 Peter Woo and No. 23 Helmut Sohmen–who married two of his four daughters.

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5 estate-plan strategies for boomers

5 estate-plan strategies for boomers | Estate Planning New Mexico | Scoop.it

“Estate planning is an act of love,” wrote John Ventura, in the Kiplinger book “Estate Planning: The Complete Guide to Wills, Trusts and Maximizing your Legacy.”

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How to Create a Bulletproof Estate Plan | Consumer Reports

How to Create a Bulletproof Estate Plan | Consumer Reports | Estate Planning New Mexico | Scoop.it
Consumer Reports Money Adviser' step-by-step guide to the estate planning documents you need to minimize estate taxes, avoid probate, and protect your family members.

Via Wright & Associates
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Wright & Associates's curator insight, December 2, 2013 6:46 AM

Creating an estate plan is a lot like getting into better shape. We all know we should do it, but most of us never make the first move because the task seems daunting.