Don’t wait until it is too late. Get a POA now. While most people are familiar with a will in an estate plan, a power of attorney draws a lot of misconceptions, according to the article in A Place For Mom “5 Misconceptions About a Power of Attorney“. Misconception #1 – You can sign a […]

The challenge will be to prove that Campbell, who was diagnosed with Alzheimer’s disease, lacked the capacity to execute the wills. Three of Glen Campbell’s children, who were intentionally left out of his will, have been given the right to contest the will by a judge, according to Wealth Management.com in “Glen Campbell’s Kids Come […]

Okay, you have saved for retirement tax free for years. However, now it is time to think about the taxes. You have been fortunate over the years to grow your IRA tax free. However, withdrawals from your traditional IRA are taxable income. You will have to make Required Minimum Distributions starting at age 70½. It is a […]

It’s easy to put off starting an estate plan. However, you really do want to take care of your family. Why should you have an estate plan? There are many reasons and many goals, including providing for your spouse and children, as well as dealing with a family business, minimizing tax liabilities and naming the […]

Most people seek confirmation that they have accumulated enough for the remainder of their years. You can put a lot of effort into saving for retirement and still have questions. However, it is important to know that the success of your plan will often be your income to expense ratio, according to Investopedia’s article “Determining If […]

There are tools in an estate plan that a college student may need and are also beneficial to you. If your child is heading off to college, you have prepared them already with background education and the ability to live away from home. However, are they prepared with the documents that an adult needs? They […]

Retirees may find themselves facing a major federal tax increase fueled by tax-deferred accounts. There are many financial strategies occurring as you save toward your retirement, including maximized annual contributions and compounding interest. This can cause a tremendous tax bite, unless you are careful, according to the Citizen Times in its article “Try this strategy […]

Shortages in some sectors make partial retirement an inviting opportunity for both parties. Not every person who reaches retirement age wants full retirement. Some labor markets make it easy to ease into retirement while helping out employers, according to The New York Times in “In a Tight Labor Market, Retirees Fill Gaps Their Previous Employers […]

If you do not have children or a spouse to include in an estate plan, the first thought may be family and friends. That is probably a good place to start. If you do not have any children or a spouse, there are many options available for creating an estate plan that benefits others, according […]

Pew Research analysis reports 20% of population living in multigenerational homes. There are a record number of multigenerational homes in the U.S. and that trend is expected to keep rising, according to a Pew Research Center analysis reported in Financial Advisor Magazine in “How to Address Multigenerational Estate Planning Issues“. For some families, it’s college […]