April, 2014

Estate Planning for Children with Special Needs Part II

For the Children Parents who have a child with special needs often undertake estate planning to insure that any inheritance left for that child will be preserved for his or her benefit.  Proper planning will preserve eligibility for needs based government programs such as SSI and Medicaid while allowing the child’s inheritance to flow into […]

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Estate Planning for Children with Special Needs

Part One: For Parents Drew and Libby have two children, Becca and Corky.  Corky has Down’s Syndrome.  Although he is on the high end of moderate functioning, he won’t be able to handle more than a minimum-wage job.  Outside of being able to purchase small items at convenience stores, he has little understanding about financial […]

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The Perils of Joint Accounts

Joint Tenancy With a Right of Survivorship (JTWROS) is a manner by which many of us hold bank and other financial accounts with others.  It is a traditional method of account ownership that has many benefits.  It commonly reflects the unity between spouses.  It avoids probate when one party dies.  It can be used for […]

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Big and Bad News for IRA Owners

Historically, individuals who have invested in IRAs have had the ability to roll over each IRA on an annual basis.  Known as the one-rollover-per-year, the IRS’ own Publication 590 has detailed that each individual IRA can be rolled over once in any twelve month period.  However, that has just changed. In 2008, Alvan Bobrow rolled […]

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Examining the Estate of Philip Seymour Hoffman

Examining the Estate of Philip Seymour Hoffman

On February 2, 2014, Philip Seymour Hoffman died of a drug overdose at the age of 46.  He was an Academy Award winning actor who appeared in many productions on stage and screen.  He was survived by his life partner, Mimi O’Donnell, and their three children, Cooper (10), Tallulah (7) and Willa (5).  His estate […]

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