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Second marriage? You’ve entered a brave, new world, when it comes to estate planning. A second marriage can sometimes create a problem, because the biggest reason that stepparents and stepchildren fight is over money, according to the AARP in “Don’t Split Heirs With Your Estate“. If you and your spouse are each financially independent and […]
Fees can drain your accounts, so watch them carefully. You have saved for many, many years and are now ready for retirement. You need to accomplish many tasks as you get ready to leave your job but one of the most important things to watch for as you go over your accounts are hidden fees, […]
Social Security rules and regulations are the key to the magic retirement age. For some reason, many American have come to believe the magic number for retirement is 61 and they are wrong, according to The Motley Fool’s article “Americans’ Ideal Retirement Age–and Why It’s Not Realistic“. The article is based on a survey from […]
The concept still going strong after three decades. The economic answer for retirees living in expensive cities, such as Seattle, may be cohousing communities, according to the Seattle Times in “Battling rising cost of living? Seeking a community? A look at the cohousing lifestyle“. This past June, Charles Durrett, an architect who has been advocating […]
The new law goes a long way in protecting the elderly from the increasing threat of scams. Elder financial abuse is very costly totaling billions of dollars annually, as well as taking a heavy emotional toll on the elderly as the scams become more sophisticated, according to Forbes in “After SAFE Act Passage, The Battle […]
Expected lifespan should be taken into consideration in savings plan. Women face a challenge in the U.S. This is because they have a longer lifespan than men but statistically make less money to be used for saving, according to The Motley Fool in “Why Are Women Only Saving Half as Much as Men for Retirement?” […]
You may think your work is done when your estate plan is completed. However, a remaining step may be informing the kids about what they face. If you wish to pass your estate on to your children, it might be a good idea to spend some time educating them about the challenges and responsibilities they […]
A family may find a business model for meetings is a helpful guide, if an elder member of the family requires care. An elder member of the family sometimes needs care. If it is a family project, it can be easier, according to aPlaceforMom.com in “Guide to Elder Care Planning & Family Meetings.” That effort […]
The fear of huge medical bills causes worry to many a retiree. However, there is hope of solving the situation. Retirees generally fear that a medical expense shock will decimate their savings. However, there are ways to make the shock less stressful, according to Reuters in “How to shockproof your retirement healthcare costs“. Brightwork Partners discovered in […]
Knowing the difference between a will and a trust is crucial, as well as how they will work for you as estate planning tools. Estate planning is unique to the particular circumstances of the individual or family. However, the two different tools that often come to the forefront are wills and trusts, according to nwitimes.com […]
