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Elder Law Office of David Wingate, LLC

Posts Tagged ‘financial dossier’

Best moves for getting your estate in order, after the Tax Relief Act of 2010.

 The Tax Relief Act of 2010, passed in December, opens a number of new estate planning opportunities – some of which may be short-lived, since the law expires at the end of 2012. Of course, with the change in the law comes the possibility that your current estate planning may need some updates, both to reflect the new rules and perhaps to take advantage of opportunities that were not previously available to you. In their article The New Rules of Estate Planning, Smart Money focused on a few of the most common issues to consider. Gifting as a Means of…

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Create a comprehensive folder of documents that family members can access in case of an emergency, so they aren’t left scrambling to find and organize a hodgepodge of disparate bank accounts, insurance policies and brokerage accounts.

Most experts recommend The financial consequences of failing to keep your legal and financial documents in order can be significant. As pointed out in a recent Wall Street Journal article, state treasurers currently hold $32.9 billion in unclaimed bank accounts and other assets. Additionally, some of the country’s largest life insurers are under investigation for failing to pay out unclaimed life policies to beneficiaries. Insurers say they are behaving lawfully and under their policy contracts are required to pay a claim only when beneficiaries come forward. Will your family members reap the full benefit of your estate planning efforts, or…

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