The viewers of this high-end PBS costume drama, which takes place about a century ago, could very likely be your clients' demographic. Look at who's a top corporate sponsor: Viking River Cruises, which told The New York Times that “our demographic is affluent Baby Boomers 55+.” It's a big group: more than 10.1 million viewers watched the first episode of the fifth season in early January. Look closely and see if Downton can impart valuable financial lessons to you.
It can be difficult to explain to clients the ramifications of putting off their estate planning. Sometimes people have to “see it to believe it,” so to speak. Enter PBS hit ...
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Trusts and the Nebraska Homestead exemption
Beneficiaries of revocable and irrevocable trusts who are over 65 and meet the income test can qualify for a property tax exemption on their homesteads. This year the exempt amount is $159,840.
The trust (revocable or irrevocable) must have at least one of three terms:
A specific right of the beneficiary to occupy the premises;
The right to amend or revoke the trust; or
The power to withdraw the homestead premises from the trust and place the record title in the occupant's name.
The applicant must apply for the homestead exemption between February 1 and June 30 of each year.
There is a sliding scale on the exempt amount ...
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The Happily Married Couple QDRO
When people hear QDRO they think of divorce. But to the surprise of many there is no statutory requirement that a married couple divorce each other in order to transfer ERISA plan assets (usually a 401(k)) from one spouse to the other. The words "divorce" and "separation" do not even appear in ERISA.
I am one of the few attorneys in the country and the only one in Nebraska who can work this legal magic. And magic it can be as one married couple in the South was able to protect over $23,000 per year from the nursing home.
I spent over 100 hours researching and writing to adapt the In-Marriage QDRO to Nebraska law after I learned of it in ...
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