When there is a large inheritance at stake (or even when there isn’t), it is a great idea to get everyone on the same page. A family meeting can make that happen, and it can even be enjoyable.
The three main areas of focus for elder law attorneys include health care, estate and tax planning and guardianship matters.
Reaching age 50 is a milestone that most of us celebrate. Still, after you’ve blown out the candles and bid farewell to your guests, you may have a headache from too much champagne, but otherwise feel the same as before.
Without proper planning, the individual with dementia and their family may struggle to cover the costs associated with their care and may face financial stress and uncertainty.
In the dark of the night, snuggled within the 4,000+ page Omnibus Bill meant to keep the machine of government well-oiled, lies a passage that may change the future of retirement saving.
Talk to just about any financial adviser, and they will urge you to enter retirement without debt. However, while a goal of beginning your golden years in the black is laudable, the reality can be very different.
People pay many different kinds of taxes. You file an income tax return every spring, pay sales taxes when you buy things and pay property taxes if you own a home. These taxes apply to nearly everyone.
It is a longtime investor’s worst fear: retiring into a bear market. A downturn in stocks can be a blessing in disguise when you are still working and saving for retirement, because you are able to buy shares ‘on sale.’
Inflation hurts everyone. It seems to reach every sector, product and business in one way or another, whether it raises the cost of heating your home, lunches or road trips. However, if you’re a retiree, you may be particularly worried about inflation because your spending habits and income sources might be disproportionately exposed to inflation.
Higher rates mean a lower lump sum. You are discounting [the value] of a stream of future payments.