We never know when tragedy will strike, an accident occurs, or a diagnosis of a serious illness is given. Having an estate plan, including these specific documents, is part of being a responsible adult and preparing for whatever the future…
With less room for error, it makes sense that someone with a modest home and retirement savings needs estate planning to protect their families. When a billionaire loses half of his wealth in a divorce, they’re still wealthy. But when…
If you want a simple way to pass a part of your estate to a spouse, one way to do it is through the use of Transfer on Death (TOD) accounts. Many spouses share a checking and savings account. Both…
Data from one source points to one state—New Mexico—as the new hot spot for retirees. It may be a stereotype, but didn’t everyone on the East Coast retire to Florida, and everyone from the Midwest went to Arizona? That’s all…
An expanded life expectancy is a blessing, but it could also be a curse, if you run out of money and there’s no way to generate any new money. Deferred annuities are an option. A study from the Employee Benefit…
Where many succession plans go off the rails, is when they focus solely on the economics of the business. That may work fine for a corporation, but for a family business, the dynamics and relationships of the family members must…
Both banks and financial advisors are starting to take a more pro-active role in preventing financial abuse. It’s common sense, since they are often the first to see questionable transactions. Don’t be surprised if your next visit to a financial…
The statistics on baby boomer’s retirement savings are not encouraging. The same generation that was famous for picture-perfect childhoods, may be facing some tough realities as they age. About half of the baby boomers are already in retirement. Those are…
Getting married without a prenup was okay when he was just a hedge fund guy. However, there are some steps that Jeff Bezos could have taken as his wealth grew, to protect himself and his company. When personal wealth is…
You’ll need a brave soul with a backbone to make the hard, sometimes unpopular decisions on your behalf, if you become incapacitated. Designating a health care proxy is like picking a guardian for your children, only it’s for yourself. Who…