Wednesday August 13, 2008 - Same Sex Marriages: Estate Planning

[0:00]..." As rethink about -- all we're making new year's resolutions were certified financial planner -- and today. We are trying to clean up our retirement plans I don't hear from listeners -- about to retire that they realize they have a bookkeeping problem. It's their retirement plans they fall into the category of having too many. Not too much just too many to many so they don't have enough money they tell me but they have too many plans what they do take inventory. What if you've got what's invested in list everything let's deal with the I Aires first how many parents CDs. And each of the mature at a different time you're asked the bank for some help here try to consolidate the diaries even if it means the money me sit in -- savings account for a few months until it catches up the next hiring. -- mutual fund diaries. Every time someone heard about hot new mutual fund you know. They've invested in it now they have seven IRA accounts. Consolidate them. Find an all weather mutual funds such an "...

[1:24]..." Looking to a company like Fidelity your Schwab. That have arrangements -- mutual fund companies that will allow you to transfer the fund to a new liar a set up with them. There may be fee for that transfer fee but instead of getting seven statements you're gonna get one statement you can easily keep track of that yet so much he talks -- she's here in. Now look at your retirement plans for a one K for a three B. I recommend moving those into -- rain when you read leave your company. Why "...

[1:48]..." lower your taxable income and that may put two and a lower tax bracket and -- Did you miss on any those tax credits and deductions slash she because she made too much money we're here as a simple and easy way to lower your income. "...

[0:18]..." elaborate needy here. I use of folder system -- folders contribution real estate taxes estimated taxes medical sector. You can use an envelope system as well sure this way as -- paying bills you're getting canceled "...

[1:12]..." until you sell that -- and then any information filed with your tax return. I air raids in pension information should be kept for ever until -- until you've spent all the money okay if you "...

[1:51]..." a former spouse and no deduction for alimony it's considered a gift. Retirement plans cannot be split using it all by domestic relationship word known as a -- And divorce becomes nightmare that couples moved at a Massachusetts. And the marriage is not recognized in the news state house with a dubious third set rules -- third Merrill's forty states do not recognize same sex marriages. Six countries do. Your mother in law probably doesn't have the IRS and Social Security doesn't as you know your mother in law lays down rules sheet and she can okay we're looking at gay marriage all this week here on WBZ news radio 103. "...

[0:01]..." 1030 with certified financial planner -- this week we're looking at gay marriage. Now this is a series we have a look at in years it is in four years since it's been legal here "...

[1:15]..." there are 1138. I counted them. Federal benefits of marriage. Such as Social Security survivorship and it's on the death and the spouse and you have to over a thousand separate them. You carry cheaper here "...