The law describes estate planning as a legal document summarizing the property a person owns and how to distribute these assets when deceased. Property ownership includes individual as well as jointly owned bank accounts, stocks and bonds, retirement accounts, real…
Bankers Life Center for Secure Retirement commissioned The Blackstone Group to perform a study of how prepared baby boomers really are for retirement, and the results are troubling. According to the survey above, the bleak financial reality of this demographic is…
The federal estate tax exemption allowance seems to be at risk of being reduced, and so it may be a good idea to reevaluate your estate plan. Senate Democrats are proposing to lower the current estate tax exemption from $11.7…
As a married couple grow older, let’s use Ginny and George as an example, it is typical that they would like to leave their assets to their extended family when they pass. Unfortunately, Ginny was then diagnosed with cancer. She…
As retired Americans grow older, their dependency on the family to handle financial and health matters increase. They often believe that their family members will be able to take care of any issues that arise. While consulting with loved ones…
A rising number of retirees and aging Americans are using bankruptcy as an option to get out of debt. While medical advances are keeping seniors alive longer, the associated healthcare costs in the quest for longevity are being off-loaded onto…
When you have big life changes like births, marriages, divorces, and moving to another state, you should review your estate plan to make sure it is still current. Children grow up, marriages dissolve, property gets sold, residences change. That’s why…
In the preparation of my will, I understand property can be left to my children “per stripes.” Why is the law talking about us like we’re some kind of zebra? The phrase is Latin and it is “per stirpes,” not…