Your parents need an estate plan. Well, actually, they have one, but their State wrote it! Now it"s their turn. Consult with estate attorneys to establish a plan that meets their needs and wants. We set up a trust for our six kids. Each has responsibilities and equal benefits. We had 3 sources of information and impacts, and all 3 came up with the same independent recommendations. An estate of your parent"s size definitely has tax issues. Ours is a revocable trust, so we have control over it as long as one of us is alive. All income is ours and all assets are in our control until they pass to the kids. Trust plan cost under 2 grand. Saves way more in taxes and personal relief, for us and the kids. Our accountant is a certified estate planner, not all of them are. Our plan was done by others.
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Today's Featured Article - Show Coverage: Journey to Ankeny - by Cindy Ladage. We left Illinois on the first day of July and headed north and west for Ankeny, Iowa. Minus two kids, we traveled light with only the youngest in tow. As long as a pool was at the end of our destination she was easy to please unlike the other two who have a multitude of requirements to travel with mom and dad. Amana Colonies served as a respite where we ate a family style lunch that sustained us with more food than could reasonably fit into our ample physiques. The show at Ankeny
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