What Should Never, Ever Be in Your Wallet
We’ve all done it—reached into our handbag or into a pocket for a wallet that isn’t there. Was it stolen, did we leave it on a checkout counter or in a taxi? Did a pickpocket get it? What’s in your…
Social Security Primer for Widows or Divorced People Who Remarry Late in Life
The Social Security Administration uses many factors to calculate benefit amounts for beneficiaries, and that includes marital status. Those who remarry late in life need to be aware of what could change as a result. This article from Investopedia’s, “How…
Planning Ahead for Senior Care When You’re Not A Billionaire
With big money, moguls, a lover with bad intentions and heirs seeking to gain control of an empire, the HBO series Succession borrowed a lot of juicy details from the real-life drama of Sumner Redstone. Forbes’s recent article, “What 'Succession'…
Planning for the Inevitable: The Loss of a Spouse
Given the sadness of the topic, it’s no surprise that most people don’t prepare for the loss of a spouse, reports a study from Merrill Lynch and Age Wave that was covered in USA Today’s recent article, “Before the death…
Rapper’s Forethought is a Surprise to Many
Mac Miller, an American rapper and music producer, died very young—he was only 26. Yet he had a will, and it showed that he had given considerable thought to avoiding the legal and financial snafus of much older artists, according…
Estate Planning Basics: The Difference Between a Revocable and an Irrevocable Trust
The purpose of estate planning is to ensure that your property is distributed, according to your wishes. Without a will and other estate planning documents, there’s considerable room for things to go wrong. Trusts are one of the basic tools…
Planning for Life Insurance to Help Your Beneficiaries
Organizing your records and telling your family members about where important documents are, is a gift to your family. After you have passed, they’ll appreciate not having to go on a scavenger hunt to find out where your assets, including…
When Is Life Insurance Taxable?
It’s all in the details. Life insurance proceeds are income tax free. If you are the beneficiary of an insurance policy, you don’t have to pay taxes on that sum. However, Kiplinger’s recent article, “Myth: Life Insurance is NOT Taxable,”…
How a QTIP Protects Heirs in Blended Families?
Estate planning for couples in second marriages when each spouse has children from a prior marriage requires a few extra steps. When each spouse dies, they may want his or her children to receive an immediate inheritance with the rest…
Veteran’s Administration New Long-Term Care Rules Go Into Effect
The Aid and Attendance program was created to help qualifying veterans with the cost of long-term care. It’s just gotten harder to qualify. Think Advisor’s recent article, “VA Is Tightening Rules on LTC Benefit for Veterans,” reports that changes finalized…