Recent Blog Posts
Steeling Yourself for a Contest of Wills
Being the personal representative of a deceased family member’s estate is an unenviable task, whether you were the obvious choice all along, since you were the decedent’s only surviving close relative, or whether you stepped up and brought the estate of a family member who died intestate to court, or even if you were… Read More »
An Effective Estate Plan Begins With a Health Care Power of Attorney
We have all heard the cliches about how family togetherness is more valuable than anything money can buy. The love, shared memories, and emotional support that you give your family mean more to them than any material things they can inherit. It is especially helpful to remind yourself of this in tough economic times… Read More »
55 Plus Communities Carry Lots of Extra Fees and Offer Little in the Way of Cultural Diversity
The good news is that you have started your retirement in good health. You do not need long-term care, so there is no need to move to an assisted living community, even though healthy retirees should buy long-term care insurance in case the need for assisted living or nursing home care arises. The affliction… Read More »
Should Retirees Keep Their Retirement Savings in 401(k) Accounts or Transfer Them to IRAs?
If you are puzzling over the decision of whether to keep your money in your employer-provided 401(k) account or move it to an individual retirement account (IRA) after you retire, count your blessings. This is a good problem to have. More than a third of American adults who work full time in the private… Read More »
Grantor Retained Annuity Trusts
Financial planners often tell clients that setting up an irrevocable trust will give them peace of mind, but the fact that irrevocable trusts are irrevocable makes them scary. Therefore, if people want to set up a trust that will begin to function as an independent entity while the grantor is still alive, they usually… Read More »
Affordable Internet Is More Important to Retirees’ Wellbeing Than You Realize
Despite abundant evidence to the contrary, the stereotype that the elderly and the Internet repel each other persists. Yes, old folks are much more likely to head to the supermarket with shopping lists written on scraps of paper, while the younger generation keeps their shopping lists on the phone, editing them in real time;… Read More »
Medicare Dental Benefits Leave Seniors in the Lurch
Medicare, the program that provides basic medical care services to American seniors free of charge, has existed since the early 1960s; the first people to receive Medicare benefits were former president Harry Truman and former first lady Bess Truman. A lot has changed since then. If you want to scare your grandchildren, or perhaps… Read More »
Is It Better If a Trust or an LLC Owns Your House?
Most people can only dream of owning a house, so you know that you are in a strong financial position if you own your home and are dreaming about ways to make it look like you do not own it. In 2023, a quarter of single-family home purchases were by investors; therefore, many of… Read More »
Spendthrift Trusts Are Your Best Defense Against the Florida Shuffle
If there were a simple cure for substance use disorder, your family would not be in this situation. As the parent of an adult who has struggled with drug addiction, your life is a roller coaster in which you cycle between empathy and emotional numbness, between hope and despair, and between blaming yourself, your… Read More »
Revocable Trusts and Your Taxes
Establishing a trust is a big commitment. Depending upon your age and what you hope to accomplish by the trust, a revocable trust may be the right choice for you. A revocable trust is just what you need if you are afraid of commitment. You can modify the trust instrument and change the trustees… Read More »
