Could joint tenancy, one of the most common forms of holding title to assets, lead to an estate planning disaster for your heirs? Joint tenancy, often called “joint tenants with right of survivorship,” is a form of holding equal interests in an asset by two or more persons. If one joint tenant dies, his or her share generally passes automatically to the other joint tenant(s) by right of survivorship.
Continue Reading...This is a big departure from my normally somewhat "dry" postings, but as a baby boomer myself, I found this animated short quite funny and wanted to share it. Enjoy!
However, there is also a serious message there - despite our attempts to stay young, we are all growing older, and it is necessary to plan for incapacity and death in order to protect ourselves and our families. So complete your estate plan, and then get back to acting spry!
According to ESRI, most of North Carolina's wealthy live in the Charlotte area, but the Triangle boasts eight of the top 25 wealthiest ZIP codes in NC. Most of the eight are in Wake County (27518 Cary, 27614 Raleigh, 27519 Cary, 27615 Raleigh, 27617 Raleigh, and 27539 Apex). Durham's 27712 ranks 24th, while Orange County is only partially included in the 27517 ZIP Code (number 16), which includes Chatham's Governors Club and Carolina Meadows. Chatham also gets in with Apex's 27523 (#21). The ratings are based on 2007 data for median and average household income, per capita income, average net worth, average disposable income, and average home value.
If you don't live in one of the these areas, don't feel bad - neither do I! And most of my clients don't either - I have many great clients in the 27312, 27514 and 27516 ZIP codes, and even in the eastern and western parts of the state, where only one ZIP code was included (27927 Corolla).
Today I received the following email, which is clearly fraudulent. If you get such an email, DO NOT RESPOND unless you like having money stolen from your bank account:
This is Francis V. from the Refund Operations Department at Internal Revenue Service
(United States Department of the Treasury).
After the last annual calculation of your fiscal activity we have determined that you
are eligible to receive a tax refund of $103.82.
Please submit the tax refund request and allow us 2-4 days in order to process it.
A refund can be delayed for a variety of reason. For exemple (invalid records or
applying after the deadline).
The good news is that Internal Revenue Service will make this refund directly to your
visa and/or mastercard linked
to your checking/savings account instead a check or a direct deposit.
To access the form for your tax refund, please continue to our secure server
form at: _____________________ My Note: I removed the link to prevent anyone from clicking on it.
Important: Do not use credit and/or american express or discover cards. Only cards that
are linked to your checking/savings account are accepted.
Regards,
Francis V.
Internal Revenue Service - Tax Refund Specialist
Beware!
Here's another article from the National Care Planning Council:
Seniors Relocation and Real Estate Services
As people age, they often become overly attached to their homes and even though there may be compelling reasons to find other living arrangements, these folks will go to extreme lengths to remain in their homes.
Notwithstanding the affection for their dwellings, there is oftentimes undeniable pressure for seniors to move out and into a different living arrangement. Consider the following:
Continue Reading...
Charles Schwab Corporation is selling U.S. Trust Company, which was bought in 2000, to Bank of America for $3.3 billion in cash. U.S. Trust is a full service wealth management and fidicuary provider with a large minimum account size - it never fit in well with the original Schwab philosophy.
Based on a number of factors, such as health care and estate taxes, an article in Forbes ranks North Carolina squarely in the middle of the pack in a listing of the best states in which to die. Utah came in first, while Washington D.C. was at the bottom. I guess that says something about how politicians affect the quality of life.
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