Wealthy Americans are most likely to be Over 80 Years Old
People in their 50s can buy as big a house and as fancy a car as they want, but when it comes to real wealth, that’s in the hands of Americans who are 80 and older. When it comes to…
If You Have Minor Children, You Must Have an Estate Plan
It’s heartbreaking, but it does happen: both parents die unexpectedly, and there’s no will, and no one has been named a guardian. Who decides who will raise your children? Being a good parent means being responsible for the well-being of…
Make Sure These Documents are Part of Your Estate Plan
An estate plan is much more than a will to distribute your worldly goods. An estate plan plans for incapacity, including conveying your end-of-life care wishes and tells others how you want to be cared for when you cannot speak…
What to Do with the Family Home Before or During Retirement?
In markets where a home’s value is near or above a million dollars, estate planning decisions about the family home become complicated. Do you downsize and sell now, put your home in a trust or age in place and let…
How Do Those Assets Get into the Trust?
If you don’t get the assets into the trust, you end up with an “unfunded” trust. If an “unfunded” trust ends up being created because assets were not transferred, there are a number of things that can happen when the…
A Smart Retirement Plan Includes Life and Disability Insurance
“Will your beneficiaries receive death benefits free of the federal estate tax?” Your long-term personal financial plan should include sufficient life and disability insurance as a key planning element. With the proper balance and advance planning, you can collect life…
Whether You Are 18 or 81, Why You Need a Will
Having a will gives you a voice in what happens to your possessions, and estate planning documents give directions to others about your wishes in the case of incapacity. Many people think that they only need a will if they…
Does an Inherited Property Generate a Tax Bill?
There are certain tax savings to leaving the family home to members of the family. They gain what is called a “step-up in basis.” Here’s how it works. Inheriting real estate is a little different than other assets. When members…
Income Planning During Retirement
Retirement may bring an end to your work life, but your responsibilities just change gears. You have to learn how to navigate Medicare and manage an investment portfolio. People who may have been happy to let their investment company handle…
Let’s Get These Retirement Secrets Out in the Open!
None of this should come as a surprise, but you’ll want this information so you can do a better job of planning for your retirement. If the only thing you know about retirement is that you’ve done with the daily…