How to Be an Effective Advocate for Elderly Parents
As family caregivers, we play many roles: scheduler, money manager, house cleaner, health aide, nurse, navigator, nurturer and more. Perhaps the most important role, though, is advocate, as we ensure the best life possible for our loved ones when they are vulnerable.
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…
Resolve to Do Your Estate Planning in 2024
Creating or reviewing an estate plan is something that many people know they should do but often put off. It’s natural to say things like: “I’ll take care of it later,” or “I don’t have enough money to have an estate plan.” However, life and circumstances happen that may be out of your control. Every adult needs…
Estate Planning Tips for Blended Families
Estate planning for blended families presents unique challenges. Unlike traditional family structures, reports Barrons recent article titled, “When Remarrying Creates a Blended Family: Advice From Financial Pros,” blended families often involve complex relationships and diverse financial backgrounds, making the process of estate and financial planning more intricate. This article has tips for blended families on identifying overall estate planning goals and concerns and identifying heirs to protect your new family and future.
Navigating the Financial Journey Living to 100
In an era where living to 100 is becoming increasingly likely, financial planning for retirement takes on a new level of complexity.
Gift and Estate Tax Exemption Limits Increase for 2024
It’s nobler to give than to take, the saying goes, and giving assets to loved ones while you’re still alive is a great way for them to enjoy the benefits right away—and for you to delight in seeing them enhance their lives.
Reasons Reviewing Your Will Ensures That Your Estate Plan Reflects Your Current Wishes
Reviewing your will is something that many people know they should do but often put off. However, various life circumstances and legal changes can significantly impact your estate planning needs. Ensuring that your estate plan, including your will and other estate planning documents, reflects your current situation is essential for peace of mind and securing your beneficiaries’ future. Why Is it Crucial to Review Your Will Regularly? Your will is not a static legal document. As your life changes, so also might your wishes regarding how your assets are distributed after your death. It’s common for relationships, financial circumstances and…
Social Security Cost of Living (COLA) Modest Increase in 2024
Social Security COLAs are tied to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), a measure of price changes for a selection of goods and services, including food, energy, and medical care, that is reported monthly by the federal Bureau of Labor Statistics.
Why are Contingent Beneficiaries Important?
When planning your estate rarely will you experience difficulty naming your initial beneficiary or beneficiaries for your will, IRA’s or life insurance.
