Estate Planning Strategies Support Aging Parents
An estate plan with wealth preservation, long-term care and medical directives strategies provides clarity and guidance to loved ones on aging parents’ wishes, while retaining control for aging parents over financial and health-related matters.
Estate Planning Checklist for 2024: A Comprehensive Guide
Estate planning is more than writing a will; it’s a plan to manage and distribute assets to your dependents. It documents your healthcare preferences, so a loved one decides on medical care according to your wishes. The National Council on Aging (NCOA) Adviser’s article, “Estate Planning Guide and Checklist for 2024,” offers a comprehensive overview of what to consider when planning your estate. This blog post distills the key points from the article and provides an actionable checklist for 2024. Understanding Estate Planning Estate planning organizes your affairs to fulfill your wishes after you pass away. It encompasses decisions about…
Seniors Be Careful: Elder Financial Exploitation More than Doubled Since COVID
While we all hope to age gracefully, we need to prepare for the potential risks of aging as it relates to investing and financial wellbeing.
Common Questions Concerning SECURE Act 2.0
The speakers touched on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, including the provision that a designated beneficiary must distribute the entire inherited IRA by Dec. 31 of the 10th year after the employee’s or IRA owner’s death (the 10-year rule), thus doing away with the stretch IRA for most beneficiaries.
How Do Special Needs Trusts Work?
Protect your adult children with disabilities using a special needs trust.
Is There More to Estate Planning Than Writing My Will?
One reason for having a will is to make sure your wishes are carried out. If you die “intestate” (without a will), your assets will be distributed by state law, not by your desires.
When Should I Update My Will?
There are some obvious triggers that might prompt you to update your will, such as changes in health or marital status. There are, however, also some not-so-obvious ones to be aware of, according to financial planners and attorneys.
Top 5 Estate Planning Nightmares You Can Avoid with a Will
In the realm of estate planning, a common adage rings true: “Failing to plan is planning to fail.” As an experienced estate planning attorney, I’ve witnessed firsthand the turmoil and heartache that can ensue when individuals neglect the crucial step of…
Do We Need Estate Planning?
Everyone, regardless of financial status or age, can benefit from having an estate plan—assuming you have assets to leave and people to leave them to.
How Marital Trusts Help Protect Blended Families
Understanding marital trusts is crucial for couples looking to secure their financial future and provide for the surviving spouse tax-efficiently. This article is a guide to marital trusts, how they work and their advantages and disadvantages. With the potential to safeguard assets and ensure that they reach the intended beneficiaries, marital trusts can be an effective part of a comprehensive estate plan, particularly for those in a second marriage or a blended family. What Is a Marital Trust? A marital trust is a type of irrevocable trust and is crafted to benefit…
