Executor Liability: Contact the decedent’s property and casualty insurance company and specifically have the estate added to the homeowners (renters) and personal excess liability (umbrella) policies. This should provide protection for the property damage, personal injury and other claims. Software “Stuff”: Organize software CDs, instructions, and other materials. Throw out the bulky box…
A child or grandchild might go to college – start a 529 college savings plan. While this is probably good advice for most, it’s not the only option. For many, it’s not the best option. If you’re a physician, business owner or anyone worried about estate tax or asset protection, there may be better…
State Taxation of Non-Resident: So you live in State A, but have some contacts in State B. If your contacts and involvement in State B are sufficient, State B might be able to tax some of your earnings. In a recent New York case, the court found the tax authorities went a tad too far….
Annual Meeting a Must: Everyone needs to have an annual estate, financial, tax and planning review. Everyone. You go to your internist for a physical once a year, your dentist twice a year, well you need to see your estate planner at least once a year as well. If your investment adviser meets annually…