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This is a tale of two agents by power of attorney. Our legal and financial advisors tell us we need a durable power of attorney for finances. With this legal document we name an “agent” who will manage our finances should we not be able to ourselves. Some people name one agent. Others name an […]
Typically paid personal care, such as dressing and bathing, is not tax deductible. If an individual meets the IRS requirements, however, long term personal care can be deducted as a medical expense. Before you toss your spouse’s or parents’ long term care bills, check to see whether they qualify for a tax deduction. The amount […]
My 91 year-old-client, Dotty, was continually pestered by charities. She received several unwanted mail solicitations every week. Several of these non-profits sent her “gifts” to thank her (in advance) for her donation: return address labels, calendars, note paper, wrapping paper, and even coins. Dotty felt she had to send money to “pay” for these unrequested […]
When I opened the door to my client’s apartment, knew I was in for a treasure hunt. Tim was a new client, and I needed to quickly understand his legal and financial situation. He was in a nursing home and unable to communicate. I spent hours looking through his papers for clues. Many of us […]
Have you watched the movie, Catch Me if You Can? The film tells the embellished story of a former con artist extraordinaire, Frank Abagnale. Abagnale is now one of the world’s most respected authorities on check fraud, embezzlement and secure documents. I recently heard him speak. At the age of 16, Abagnale ran away from […]
2016! A new year with new possibilities. For many people, this is the time to resolve to spend less, save more, start budgeting, or live within their means. Reining in expenses is work, takes time, and can be tightly entwined with emotions. How can you make this resolution a success? Setting up a budget and […]
Thanksgiving reminds us to be grateful for the people and things we value in our lives. I propose we include money in our expressions of gratitude, both the money we have and our ability to acquire it. Money is so important in our daily lives, many ordinary events would not happen without it. At its […]
I am helping a client settle her husband’s estate. Her late husband was an attorney, and my client thought he had set up his personal accounts to smoothly transition to her after his death. He almost did. After a flurry of phone calls, forms and medallion signature guarantees, most of his assets easily transitioned to […]