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In today’s program, Tom explains how deeding your home to your children during your lifetime can end up costing your children a 20% Capital Gains tax when your home is sold.
Tom
– Have You Updated Your Estate Plan to Account for These Changes in the Law?
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Episode Podcast
Tom discusses several changes in the law that might require your estate plan to be updated.
– Don’t Leave Your Children With A Cash Poor Estate
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Tom discusses the importance of making sure that if your home is going to go through probate, that there will be adequate cash available in the estate to pay ongoing expenses until the home is sold.
– The Other Estate Planning Document That Everybody Should Have
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Episode Podcast
Two weeks ago Tom told you why everyone should have a Power of Attorney for Health Care. In today’s show, Tom discusses another document that you need as part of a complete estate plan.
– Death and Taxes…How to Avoid Both of Them
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Episode Podcast
Tom talks about taxes related to dying, and how you can use your estate plan to avoid them.
– The One Estate Planning Document That Everybody Should Have
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Episode Podcast
Do you have the one estate planning document that everyone should have? Tom tells you what it is, and explains why you need it.
– How You Can You Use Your IRA to Buy a House
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Episode Podcast
Tom discusses how you might be able to use money that you have saved in an IRA to purchase a new home, without incurring the 10% early withdrawal penalty.
– Answers to Common Questions About Funeral Planning
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Episode Podcast
Tom answers common questions about planning your funeral…including whether you have to use the services of a licensed funeral director, who has the right to plan your funeral if you don’t, do you have to purchase a casket from a funeral home, do you need a vault, is embalming required by law, and much more.
– Married Women Lose Dower Rights in Michigan
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Episode Podcast
In today’s episode Tom discusses the dower rights of married women in Michigan, how recently enacted legislation eliminates those rights, and what the consequence will be for married women in Michigan.
– Michigan’s New Qualified Dispositions In Trust Act Makes Asset Protection Easier
Episode Video
Episode Podcast
Tom discusses Michigan’s new Qualified Dispositions in Trust Act that makes it easier to create a trust to protect your assets from your creditors. Find out how simple it can now be to protect what you own from risks of lawsuits and creditors.