Author Archives: Site Administrator
How is Retirement for Baby Boomers?
CNBC’s recent article, “Baby boomers face retirement crisis—little savings, high health costs and unrealistic expectations, ” says that the Insured Retirement Institute’s annual report, Boomer Expectations for Retirement, highlights the fundamental issues of too little savings, underestimating healthcare costs and unrealistic expectations of how much retirement income they will actually need. Too little savings…. Read More »
When Should You Start Claiming Social Security Benefits?
Social Security has helped generations of Americans. The intent of the program was to provide workers with income to supplement their retirement pensions. Through the years, reports The Crozet Gazette, the program has changed and now provides benefits to disabled workers, spouses and children of beneficiaries. The article, “When Should I Start Taking My… Read More »
What Happens Siblings Inherit the Family Home?
The Washington Post’s article, “When siblings squabble over an inherited home”, describes one of the most common issues bestowed upon surviving children by a late parent: the home is left behind in equal shares, with one child wanting to keep the property and while the other sibling wants to sell. Fortunately, there are many… Read More »
Does Your Estate Plan Need a Physical?
The best goal to set after completing your tax filing, is to make or review your estate plan, says The Pathway in the timely article “Giving your estate plans a check-up.” After all, there this is probably the time of year when you have the most current and complete look at your financial status…. Read More »
When Should I Start My Estate Planning?
Only 42% of Americans have a will or other estate planning documents, according to a 2017 Caring.com study. Among parents of children under 18, only 36% have created a will. USA Today’s recent article, “Estate planning: 6 steps to ensure your family is financially ready for when you die, ” explains that if you… Read More »
What Will Happen If I’m In An Accident?
Expensive and rising healthcare costs can’t be a surprise to those nearing or in retirement. However, something that’s not often discussed, is the devastating impacts on your retirement and investment accounts, if you are not properly prepared for a gap in regular income. It’s estimated that 3.14 million Americans were involved in an auto… Read More »
Can I Revoke an Irrevocable Trust?
A trust can be revocable or irrevocable, says nj.com’s article, “Can an irrevocable trust be revoked?” A revocable trust is a living trust that’s created with a written agreement between the person creating the trust (also called the grantor or settlor) and the trustee. That’s the person who will manage the assets in the… Read More »
Should You Take a Lump-Sum Pension Payment?
Those of you who are already retired and collecting a company-paid pension might receive a tempting offer from your former company. Many companies are giving their pensioners the option of trading in their guarantee of life-long pension payments for a one-time lump-sum payment. The offer might look generous. Some people get buyouts of $300,… Read More »
Do My Debts Die with Me?
When you die, your debts do not. Your executor will be required to pay them using your assets. That means that any unpaid debt can reduce the wealth you’ve left behind for your heirs. In some cases, your family members could even need to pay your debt. Reader’s Digest’s recent article, “This Is What… Read More »
Should My Estate Plan Include a Trust?
There are as many types of trusts, as there are reasons to have trusts. They all have benefits and drawbacks. What type of trust is best for you? The answer is best discussed in person with an estate planning attorney. However, an article from U.S. News & World Report titled “8 Things to Know… Read More »