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Children may not have to make as many major decisions at a difficult time in their lives. Elder law estate planning can make the lives of adult children easier by setting major goals and tasks in the process, according to the Times Herald-Record in “Three ways for seniors to make things easier for their kids“. […]
Half of all Americans working toward retirement expect to work past the age of 65. You can work and plan your retirement. However, it is possible that you may end up returning to work either for financial, social or other reasons, according to the New Hampshire Register in “Returning to work after you retire“. A […]
A checklist can help you stay on top of preparing for those later days. You work long and hard during your life and those retirement days are finally approaching. Unfortunately, some are prepared for those days and some are not, according to CNBC in “Nearing retirement? This checklist can help you make sure you’re financially […]
Work hard, plan your retirement and don’t forget the digital world. People can behave responsibility by working with an estate planning attorney to create a will, power of attorney and health care proxy as well as other important documents to protect their heirs. However, it is important to remember it is a different world now […]
Transparency is usually the best case, so make that choice wisely. If you decide to choose a family member for power of attorney, remember to consider the possibility of a family feud, according to Considerable.com in “How to assign power of attorney without sparking a family feud“. Start by understanding exactly what is meant by […]
The stretch IRA may disappear into the past. The House recently passed the Setting Every Community Up for Retirement Enhancement Act, known as the Secure Act, and it’s widely expected to pass the Senate. While its name sounds like it’s looking to help Americans with retirement, it is possible the bill will reduce the value […]
While it is taxable on withdrawal, the contributions lower your taxable income. It comes as a surprise to some retirees that the withdrawals from a 401(k) are taxable. However, it is important to remember that the contributions are beneficial, because they lower taxable income, according to Market Watch in “How 401(k) savers can avoid a […]
Even if net worth is not high, a second look at your plan can be beneficial. The Federal Tax Cut and Jobs Act is a good reason for people, regardless of the amount of their assets, to either create an estate plan or review an already existing plan, according to the Atlanta Business Chronicle in […]
It is important to realize that you can name your power of attorney. A power of attorney is someone you name to act on your behalf should you become unable to handle your finances or make your own decisions. If you do not have a power of attorney, then someone will be named to act […]
A real-life problem when long-lost relatives show up. A trustee and only beneficiary of her mother’s trust explained her difficulties when her long-lost sister suddenly showed up toward the end of her mother’s life, according to the Santa Cruz Sentinel in the article “It’s never too early to disinherit children“. After disappearing for decades, her […]
