Author Archives: Linda Fisher
How Much Should We Tell the Children about the Estate Plan?
Congratulations, if you have finished your estate plan. You and your estate planning attorney created a plan that is suited for your family, you have checked on beneficiary designations, signed all of the necessary documents and named an executor to carry out your directions when you pass. However, have you talked about your estate… Read More »
Senior Taxes, Money, and Retirement in a Biden Administration
The advent of a Biden Administration could bring significant changes to the current landscape for older Americans. Biden has outlined what he would like to accomplish for older Americans, and this post is intended to summarize some of those plans. Social Security benefits may become secure again. The Trump proposed payroll tax cut and… Read More »
Estate Planning Lessons from Celebrities for ‘Regular’ People
Hsieh, former CEO of Zappos, left behind an estate worth an estimated $840 million and no estate plan, reports Forbes in a recent article titled “Lessons From The Rich And Famous: Why Estate Planning Should Be Part Of Your Retirement Plan.” The family had to file with the court to have family members appointed… Read More »
Do You Know Your Job as Executor, Agent or Trustee?
It’s not uncommon for a named executor or trustee to have some anxiety when they discover that they were named in a family member’s estate planning documents. With the testator or grantor dead or incapacitated, the named individual is often desperate to learn what their responsibilities are. It may seem like they’re asked to… Read More »
What Happens If You Fail to Submit a Change of Beneficiary Form?
Wealth Advisor’s recent article entitled “I’m being denied an inheritance. Can they do that?” explains the situation where an individual, Peter, was given a CD/IRA by a friend named Paul. Paul told Peter that he wanted him to have it, in case anything happened to him. Paul was married and didn’t tell his wife… Read More »
Is Probate Required If There Is a Surviving Spouse?
Probate, also called “estate administration, ” is the management and final settlement of a deceased person’s estate. It is conducted by an executor, also known as a personal representative, who is nominated in the will and approved by the court. Estate administration needs to be done when there are assets subject to probate, regardless… Read More »
Should a Husband and Wife have Separate Trusts?
The decision about separate or joint trusts is not as straightforward as you might think. Sometimes, there is an obvious need to keep things separate, according to the recent article “Joint Trusts or Separate Trusts: Advice for Married Couples” from Kiplinger. However, it is not always the case. A revocable living trust is a… Read More »
Does New Federal Regulation Mean Lower Prescription Drug Prices?
HHS announced a rule that would require manufacturers to give Medicare beneficiaries enrolled in the Part D prescription drug program the rebates that insurers and middlemen, known as “pharmacy benefit managers, ” use to negotiate and keep monthly premiums down. According to the nonpartisan Congressional Budget Office (CBO), this regulation would cause Part D… Read More »
Which Medicare Expenses will Increase in Cost Next Year?
Several premiums and deductibles for those seniors with the traditional Medicare health insurance are increasing for the new year, the federal government announced in early November. Money Talks News’s recent article entitled “These Medicare Expenses Will Jump in January” reported that the rising costs include the following: The 2021 Medicare Part B standard premium… Read More »
Are Alzheimer’s and Dementia the Same Thing?
Dementia is an umbrella term used to describe a group of symptoms that affect memory, communication abilities and activities of daily activities. Alzheimer’s is the most common cause of dementia. It affects roughly 60-80% of the people with dementia. Alzheimer’s is a specific disease, and dementia is a syndrome or category, explains The Advocate… Read More »