To make sure that your assets are eventually distributed in the manner that you see fit, you must make the necessary adjustments along the way while making sure that your estate plan is professionally prepared by a truly experienced professional. We often see cases that are held up in court for years because individuals did not plan ahead with the proper degree of foresight. In many instances, when people are disinherited they are not going to simply stand idly by with their disappointment. If … [Read more...] about Imprecise Planning Can Yield Unintended Results
Retirement Budgeting: Taxes Can Be Stifling
One of the highly publicized stories of the last couple of years in the realm of retirement planning is the unpreparedness of the baby boomer generation. Massive numbers of these individuals are reaching the typical retirement age, and many of them are finding that they are not in a financial position to retire. If you are someone who will have to budget carefully to be able to put your working years behind you, it is useful to enter into retirement with limited expenses. If you are saddled … [Read more...] about Retirement Budgeting: Taxes Can Be Stifling
Seniors – Thinking of Downsizing? Some Tips to Think About
Are you thinking of downsizing and not sure where to go? Are you unsure about what type of home you would like (independent living, assisted care or skilled nursing)? Are housing choice conversations taking up a lot of time with your family? I often help clients search for the perfect living situation. Following is some basic information on the different types of senior living available in our area, and some questions to ask when thinking of downsizing. Independent living is ideal for someone … [Read more...] about Seniors – Thinking of Downsizing? Some Tips to Think About
Good Things Can Make Estate Plan Revisions Necessary
Some of the best things that can happen to you are going to render your existing estate plan obsolete, and this is something to remember amid the celebrations. Estate planning lawyers are always going to emphasize the fact that adults of all ages should have an estate plan in place. Everyone has something to pass along, even if these items are largely sentimental. And it is also important to express your wishes regarding health care procedures that you would accept or deny in the event of your … [Read more...] about Good Things Can Make Estate Plan Revisions Necessary
Seniors Face Significant Out of Pocket Medical Expenses
If you are thinking that Medicare is going to cover all of your expenses when you need health care as a senior citizen, you may want to reevaluate your expectations. The fact is that there are expenses that you must pay as a Medicare recipient, and they are significant, especially when you consider how they would erode the typical monthly Social Security benefit. The Medicare program is broken down into four different parts. There is Medicare Part A, which is the component that is used to … [Read more...] about Seniors Face Significant Out of Pocket Medical Expenses
The Currency of Emotion
When you are evaluating the things that you have to pass along to your loved ones, you will certainly consider the big picture. Being able to make a difference in the lives of your family members financially after you pass away is a gratifying feeling, and we all need a solid financial underpinning. That having been stated, there is also what we will call the currency of emotion to consider. You likely have certain personal possessions that mean a lot to you, and this can include family … [Read more...] about The Currency of Emotion
Estate Planning is a Highly Specialized Field
There are specializations within broader fields of expertise, and we come into contact with this phenomenon all the time. For example, you are not going to want a plastic surgeon to give you a kidney transplant. You are going to want an experienced renal specialist, even though both individuals are fully credentialed and qualified physicians. This is something to consider when you are looking for legal advice as you make preparations for the future with your legacy in mind. All attorneys serve … [Read more...] about Estate Planning is a Highly Specialized Field
Coming Full Circle as a Business Owner
Going into business for yourself is a huge undertaking, and most of us are aware of the fact that the majority of business start ups do not withstand the test of time. Therefore, your primary focus when you first get started is going to be to simply become profitable and stay in business. But at the same time, you do have to keep an eye on the future. Once you have a foothold and recognize that you will be in business for the long haul, you have to come full circle and ask yourself how you will … [Read more...] about Coming Full Circle as a Business Owner
Retirement Preparedness: Early Recognition is Key
As you go through life, you may not feel a whole lot different than you did in the past. You are wrapped up in the challenges of each day and are engaged in the present, continuing to feel as though you are a relatively young person as the years pass. However, the years are indeed passing, and this sense of perpetual youthfulness may be a bit of an illusion. At some point everyone must become aware of the fact that the age of retirement lies in wait, and preparedness can require long-term … [Read more...] about Retirement Preparedness: Early Recognition is Key
Social Security: Access Your Statement Online
Many of the things that we used to utilize snail mail for are now done online. In the big picture it can indeed save a lot of money to share information electronically, and it can be more convenient as well. You may remember receiving annual statements from the Social Security Administration in paper form. In keeping with the trend toward streamlining things, the statements are no longer being mailed to Americans 25 years of age and up. Only those who have reached the age of 60 are getting the … [Read more...] about Social Security: Access Your Statement Online
