Author Archives: Site Administrator
Estate Planning Documents and Medicaid Planning
The conversation that you have with an estate planning attorney, when you are in your thirties with a new house, young children, and many years ahead of you is different than the one you’ll have when you are much older, maybe just before you retire. The estate planning attorney will know that you are… Read More »
Paying for a Nursing Home or Assisted Living
Senior living can be costly, but with a little creativity, you can find multiple options to help you pay for this expense. You might also not need as much money as you think. Senior housing developments include some costs that you have to pay for out of pocket, while you still live in your… Read More »
Saving for Retirement: It’s Never Too Late
Maybe you haven’t looked at your 401(k) statement in a while, but if you have and it doesn’t seem like it will be enough for retirement, don’t panic, says Bloomberg in the article “Bigger 401(k) Contributions Are Easier for Empty Nesters.” How is that possible, when your car needs to be replaced soon and… Read More »
Review Life Insurance Trusts in Estate Plans
With the doubling of the estate tax exemption to $11.4 million per person and $22.8 million per married couple, with very few exceptions, the estate tax has become irrelevant until the new tax law sunsets in 2025. In the meantime, however, people who had life insurance trusts created, may want to consider dismantling them,… Read More »
What’s The New Top Retirement Destination?
Watch out, Florida, and step aside Arizona. CNBC’s recent article, “Retirees are flocking to these 3 states — and fleeing these 3 states in droves” says that New Mexico is the new top retirement destination. Those were the results of a survey by United Van Lines of nearly 27, 000 of its customers who… Read More »
Senior Communities: Finding the Right One
Deciding where to live in your senior years, should be the result of a mindful process. You do not want to throw a dart at a dartboard to make this decision or automatically move into the closest facility. Some people put less thought and work into selecting a retirement community, than they put into… Read More »
How Can a Power of Attorney Mistake Leave You Penniless?
Just before Dorothy Jorgensen’s husband died of cancer, he altered his power of attorney and designated one of his relatives. That relative withdrew everything but a few bucks, reports WPRI.com in the article “Son questions power of attorney after mother’s bank account is drained.” “When I went to pick up a prescription for my… Read More »
Are You Making a Long-Term Care Plan?
The cost of long-term care can be substantial—but even the most financially secure people are totally discounting the looming threat of long-term care in their retirement planning. The Motley Fool’s recent article, “Baby Boomers Are More Prepared for Death Than Life, ” says most baby boomers are either unprepared or haven’t planned for a… Read More »
Social Media Helps to Catch Social Security Disability Fraud
The Social Security Administration (SSA) used to have investigators try to catch people in the act of performing activities, like bouncing on a trampoline, that prove they were not disabled and their applications for Social Security Disability benefits (SSDI) were fraudulent. Having to document this behavior by being physically present and snapping photographs as… Read More »
Healthcare Proxy: Who Should You Choose?
So many people put off naming a healthcare proxy, says Forbes in the article “How to Select A Healthcare Proxy, ” often only addressing this, when they are completing other documents for their overall estate plan. What usually happens is that people get so stressed out about naming a healthcare proxy that they put… Read More »