Recent Blog Posts
Veterans Benefits Planning is More Important than Ever
The COVID-19 virus is not going away as many had hoped. And studies have shown it is deadlier for those over the age of 65. Individuals living in senior living communities, such as independent living, assisted living, memory care, and nursing homes have the highest risk of becoming infected and possibly dying from the… Read More »
Estate Planning Different for Business Owners and Top-Level Executives
Do you need an estate plan? If you have children, ownership shares in a business, or even in more than one business, a desire to protect your family and business if you became disabled, or charitable giving goals, then you need an estate plan. The recent article “Estate planning for business owners and executives”… Read More »
Some Common Drugs May Increase Chances of Dementia
Research conducted in 2019 has strengthened the connection between dementia and a common class of drugs used to treat a variety of symptoms. Anticholinergics are a type of medication that blocks the action of acetylcholine. That’s a chemical messenger (or “neurotransmitter”) in the brain that help coordinate breathing, digestion, urination and other functions. Anticholinergics… Read More »
Avoid These Mistakes with Your Estate Plan
Estate planning means putting together a plan on paper, following the letter of the law, when it comes to what should happen to assets when you die. It also includes your decision regarding who will care for your children, who will make decisions on your behalf if you are unable and what kind of… Read More »
What Basic Estate Planning Documents Do I Need?
AARP’s recent article entitled “Sign These Papers” suggests that the following documents will give you and your family financial protection, as well as peace of mind. Advance Directive. This document gives your family, loved ones and medical professionals your instructions for your health care. A living will, which is a kind of advance directive,… Read More »
Is there a Better Plan than a Reverse Mortgage?
If you’re 62 or older, one way to get a bit more cash, is to use the equity in your home in a reverse mortgage. It’s a type of loan that allows you to borrow against the equity in your home and receive a set monthly payment or line of credit (or a combination… Read More »
Do I Qualify as an Eligible Designated Beneficiary under the SECURE Act?
An eligible designated beneficiary (EDB) is a person included in a unique classification of retirement account beneficiaries. A person may be classified as an EDB, if they are classified as fitting into one of five categories of individuals identified in the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The bill passed in… Read More »
What Should I Know about Immediate Variable Annuities?
FedWeek’s recent article entitled “Buying an Annuity for an Income Stream” explains that these annuities come in two varieties, immediate fixed annuities and immediate variable annuities. With an immediate fixed annuity, you receive the same amount each month, as long as the annuity lasts. However, a fixed payout may not be attractive, because that… Read More »
Inherited IRAs Require Careful Handling
For those who inherit IRAs, the intersection of taxes, estate law and financial planning can be a tricky place. There are many choices, maybe too many, and making the wrong choice can be costly, according to the recent article “6 inherited IRA rules all beneficiaries must know” from Bankrate. There are two categories of… Read More »
Take Advantage of Tax Laws Now
The pundits are saying that the if Democrats win the White House and possibly Congress, expect changes to income, gift generation skipping transfer and estate taxes. This recent article from Forbes, “Use It Or Lose It: Locking In the $11.58 Million Unified Credit” says that the time to act is now. Since 2000, the… Read More »