When people get married, they can be surprised to learn that their IRA or pension does not automatically pay to their new spouse. Why not? The bank holding the IRA or pension funds will try to honor whatever the participant first chose when they opened the account. These accounts will always have a nominated beneficiary,…
When did the term “reverse mortgage” become a bad word? Clients seem scared to ask me about it, but it’s actually a very important term to understand. So, are reverse mortgages a scam? The short answer is no. Reverse mortgages, when performed ethically and applied in the right situations, can help seniors gain access to…
The American Society for Reproductive Medicine estimates that, just in the United States, 600,000 to 1 million cryo-preserved embryos are in storage. The total number is likely to continue to increase as other countries develop their own in vitro fertilization medical practices, and more couples in the United States delay growing their family until their…
For those who have not seen the movie Moana, you should at least listen to the sound track. My cousin Wil and I listened to it nonstop this summer while driving through the Grand Tetons National Park. At Gay Days Anaheim, Wil and I wasted no time in posing for a photo with a Moana-impersonator and…
Michael Jackson is still popping up in the news. On July 20th, the current co-executors of his estate said to The Post, “The music of the greatest entertainer that ever lived, Michael Jackson, is in the hands of the number one publishing company in the world.” The executors were referring to a renewed deal between…
Most homeowners have heard of umbrella insurance. Sometimes it is offered as an add-on to an automobile insurance policy. But, how many individuals purchase umbrella insurance? Not enough. If one of my clients is involved in a fatal car accident where they survive but the other driver does not, umbrella insurance may come into play….
Estate planning can be particularly impactful on women. Women need to be well-versed in creating an estate plan for themselves and their family. Why? Women are more likely to marry older men than men are likely to marry older women. Coupled with their longer life-spans, by age 65 a woman is three-times as likely to…
How do you mitigate tensions in creating an estate plan? Write a precatory letter, of course! A precatory letter is the document some clients use to express their love to their families. The letter is not, in itself, a legally binding document, but is meant to provide an emotional cushion for loved-ones if they are…
