by Kathryn A. Flanigan | Jan 15, 2013 | Uncategorized
This year, retirement benefits are changing in a number of important ways; here is a summary of those changes:Contribution limits to 401(k)s and IRAs increase by $500, but catch-up contributions for taxpayers over the age of 50 remain unchanged. The 2013 contribution...
by Kathryn A. Flanigan | Jan 15, 2013 | Uncategorized
Wealthy Californians who dropped a sizable gift on heirs in December due to uncertainty about estate and gift taxes may be having what financial experts are referring to as “gifting remorse.”In a move that surprised many estate planners, Congress made...
by Kathryn A. Flanigan | Jan 15, 2013 | Uncategorized
Baby boomers who no longer see a young face staring back at them in the mirror are instead surrounding themselves with other young faces by moving to college towns for retirement.While our parents may have blazed their retirement trails to the warm climes of Arizona...
by Kathryn A. Flanigan | Dec 18, 2012 | Uncategorized
An Equity Reduction Plan (ERP) is designed to protect business or real estate assets, and can be a highly effective form of asset protection for those who have significant real estate holdings or own their business or professional practice (doctors, attorneys, etc)....
by Kathryn A. Flanigan | Dec 18, 2012 | Uncategorized
Parents who have built up significant assets that they wish to pass on to children may be concerned about asset protection in the event one of their children gets divorced. Estate planning provides several strategies for accomplishing this through:Pre-nuptial...
by Kathryn A. Flanigan | Dec 18, 2012 | Uncategorized
The last U.S. Census report showed that the number of couples living together without being married is at record levels. Estate planning can play an important role in protecting the assets of those who are living together in case they eventually split up.Unmarried...
by Kathryn A. Flanigan | Dec 18, 2012 | Uncategorized
One of the issues concerning parents or grandparents with significant assets to pass on to children is the ability to pass along their values as well as to how those assets should be used. Too often we hear about heirs who have spent their inheritances unwisely,...
by Kathryn A. Flanigan | Dec 18, 2012 | Uncategorized
Incorrect beneficiary designation is one of the most common estate planning mistakes people make and can lead to undesirable tax consequences as well as family feuds over assets. If you are the owner of a qualified plan – and IRA, 401(k), annuity, life insurance...
by Kathryn A. Flanigan | Dec 17, 2012 | Uncategorized
Plan your transition. For some people, retirement is just as stressful as working. Experts advise planning your retirement time at least five years before you actually retire, but you can do it in less time if you are focused and can make the big decisions like where...
by Kathryn A. Flanigan | Dec 17, 2012 | Uncategorized
It is essential to create a contingency plan naming someone to make decisions for an elderly individual before illness or incapacity impairs their ability to create and understand legal documents.Under California law, a person must be mentally competent to create...
