This author has not written his bio yet.
But we are proud to say that Tom DelPup contributed 98 entries already.
Estate planning clients tend to focus on the “when I die” issues when tending to their estate planning. However, if all you have done is sign a will and trust to order your affairs and distribute your property after you die, your estate plan is seriously deficient. Death is a certainty, but incapacity at some […]
“And there were in the same country shepherds abiding in the field, keeping watch over their flock by night. And, lo, the angel of the Lord came upon them, and the glory of the Lord shone round about them: and they were sore afraid. And the angel said unto them, ‘Fear not: for, behold, I […]
A little while back we looked at the 10 worst states for retirement living. Now we’ll examine the 10 best states for retirement living. The ranking, courtesy of Bankrate, considered several factors, including local weather, access to health care, cost of living, crime rate and tax burden. This year’s ranking also adds a broad standard-of-living […]
ABC News reveals some of the details of Joan Rivers’s will this week. The will was filed with the courts on December 5. The most significant detail being that she employed a trust as part of her estate plan and, therefore, none of the details of her estate – her assets, their value, or who […]
A very good Times Herald article sheds light on the problematic practice of non-attorneys pushing estate planning documents on unsuspecting consumers. Not surprising, this advice is given for the non-attorney’s own financial gain. There’s big money in peddling “estate plans” on an unsuspecting public. In Michigan, our State Bar has received numerous complains regarding estate […]
Beginning January 1, 2015, IRA owners will be limited to one IRA rollover per year under a new Internal Revenue Service rule. The IRS issued the rule in response to a recent US Tax Court decision which held that multiple rollovers between different IRAs owned by the same taxpayer violated the Internal Revenue Code. The […]
Where does one spend their golden years? A recent USA Today article identifies the 10 worst states for retirement living – at least according to a recent MoneyRates survey. The list was developed using data from 5 major categories, including: senior population; economic conditions [including taxes, cost of living, and unemployment (more seniors are working […]
People can be surprisingly nonchalant when it comes to beneficiary designations on retirement accounts and life insurance policies. They assume even if they have missed a beneficiary designation or it is out-of-date, the remaining account balance will automatically go to their surviving spouse or children upon death. However, a recent survey done by the National […]
The December 31 deadline for taking required minimum distributions (RMDs) from individual retirement accounts is approaching. One either takes the mandatory RMD from their IRA by year end or suffers the 50% excess accumulations penalty (plus interest!) on any required withdrawals that aren’t taken. Generally, an IRA owner who is at least age 70½ must take […]
A prospective client contacted me regarding the purchase of a house being sold at “short sale.” The prospect explained that the property owner is a relative, and the money to buy the property would be coming to the prospect through other relatives. The family desires to keep the property owner in the house after the […]