Author Archives: Site Administrator
Will Getting Married Affect an Older American’s Social Security Benefits?
When you are thinking about getting married, Social Security retirement benefits are probably the last thing on your mind. If you are not fresh out of college, however, you need to think about this question: Will getting married affect an older American’s Social Security benefits? Marriage could affect the amount of Social Security benefits… Read More »
Family Meetings and Trustworthy Siblings Needed to Help Aging Parents
It gets tricky when aging parents start having problems managing their own financial and legal affairs. Siblings can be a challenge, if they lack the ability to understand the changing roles from adult child to caregiver, or if they don’t know how to manage the “business side” of life. That, says the Monterey Herald… Read More »
When Should You Have Your Estate Plan Done?
But don’t pat yourself too much — you’re not done yet. A will is not a static instrument, says The Item in its recent article “Don’t wait until high noon.” If laws change, which happens regularly, or your life changes, you need to review your will and be aware of any significant changes that… Read More »
Why Is a Revocable Trust So Valuable in Estate Planning?
There’s quite a bit that a trust can do to solve big estate planning and tax problems for many families. As Forbes explains in its recent article, “Revocable Trusts: The Swiss Army Knife Of Financial Planning, ” trusts are a critical component of a proper estate plan. There are three parties to a trust:… Read More »
Making an IRA Part of the Estate Plan
Most people use their IRAs (Individual Retirement Accounts) for retirement income. However, a lucky group find themselves not needing the money from their IRA accounts. Instead, the assets become part of a legacy that they leave to heirs. That is why most IRA accounts include the name of a beneficiary who could inherit these… Read More »
What Do I Do First After the Death of My Spouse?
There is no doubt that the stress can be all-consuming, when a spouse passes away. It’s not a good time to make financial decisions. You should also avoid making any major changes for at least a year, if you’re able. Allow your emotions to settle, prior to doing anything that could drastically impact your… Read More »
What are the “Must Have” Estate Planning Documents?
What do Aretha Franklin, Kurt Cobain, and Prince have in common? Aside from being famous and talented, each of these stars passed away without a will. All three had the money and attorneys to draft a proper estate plan, but for whatever reason, they didn’t draft one. It’s a good lesson to not neglect… Read More »
When Was the Last Time You Talked with Your Estate Planning Attorney?
If you haven’t had a talk with your estate planning attorney since before the TCJA act went into effect, now would be a good time to do so, says The Kansas City Star in the article “Talk to estate attorney about impacts of Tax Cuts and Jobs Act.” While most of the news about… Read More »
Using Trusts to Maintain Control of Inheritances
Trusts, like estate plans, are not just for the wealthy. They are used to provide control, in how assets of any size are passed to another person. Leaving an inheritance to a beneficiary in a trust, according to the article from Times Herald-Record titled “Leaving inheritances to trusts puts you in control, ” can… Read More »
Spare Your Family From a Feud: Make Sure You Have a Will
If for no other reason than to avoid fracturing the family, as they squabble over who gets Aunt Nina’s sideboard or Uncle Bruno’s collection of baseball cards, everyone needs a will. It is true that having an estate plan created does require us to consider what we want to happen after we have died,… Read More »