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Leaving a legacy isn’t always about making a big bequest. A Bank of America/Merrill Lynch survey came up with some interesting information, according to The Voice in “How to leave a legacy no matter how much money you have“. The survey included more than 3,000 adults (2,600 of them were 50 and older) who were […]
You really should plan for the future, even if it means taking your own death into consideration. People do not generally like to consider their own passing so they often avoid estate planning. However, it really can be considered as a message to the future, as well as thoughtful consideration of your family, according to […]
Life happens and so does death, so it is best to be prepared. It doesn’t matter how much money you have. You always need an estate plan, whether married or single, in order to be sure those left behind are cared for and that your assets are distributed as you wish, according to the South […]
It is a good idea to have a plan, just in case you do retire. Many business owners have worked for years to build up their business and don’t have any intention of retiring. However, that day is likely to come and it would be wise to have a succession plan, according to The Gardner […]
RMDs are legally required and it is best to study up on them, because taxes can be 50%. Required minimum distributions (RMDs) are not always a common name to retirees but they should be, according to Forbes in “5 Things to Know About RMDs“. The withdrawals are legally required and you have to take them, […]
You can no longer make medical or financial decisions for your children without proper paperwork. It is wonderful to bring up the children, make sure they are educated and see that 18th birthday come along. However, it is important to recognize that many things change from a legal standpoint, according to grbj.com in “Give your […]
Should inheritance be spent on sports cars and jewelry? Protecting your children from frittering away an inheritance is often done through a spendthrift trust but that trust can also be used to protect them from divorce and other problems that can come their way, according to Kiplinger in “How to Keep Your Heirs from Blowing […]
Where does help become an undue influence? The law is very specific when it comes to disinheriting an adult child, so it is a good idea to be perfectly clear on your wishes or it can backfire, according to the Santa Cruz Sentinel in “No shortcuts when planning estate trust“. It is crucial to have […]
Despite strong efforts by scammers, it is still possible to stay safe. We are all vulnerable to identity thieves but much of the action seems to focus on seniors, according to My Prime Time News in “Senior Identity Theft: How to Stay Safe“. More than a third of complaints to the Federal Trade Commission in […]
On average, men need help for 2.2 years, while women need help for 3.7 years. Many people will end up needing assistance to care for themselves as they become elderly and that help may not be provided by their children. It might be wise to look into long term care costs now, according to The […]
