Advisor One shared a useful story this week that touches on an item commonly forgotten in wealth transfers, including those using trusts or other legal tools. It is critical to remember how insurance coverage might be affected by the transfer. That way, changes can be made immediately to guarantee that…
There is no getting around the fact that certain costs will be incurred near the end of life. Even if you are in great health, live at home until the very end, and require no extra caregiving of any kind, your passing will come with certain financial challenges for your…
There are no shortage of articles discussing the need to get serious about planning for your retirement. Money is seemingly always tight, and taking a significant portion of assets and putting it away for another day is rarely an easy step. That is particularly true for middle class families who…
A recent Financial Advisor article shared examples of real-life cases where seniors were financially abused. These situations are quite common, and the complexity of many of the schemes underscore the difficulty in combating the problem. For example, in one case an advisor noticed suspicious transactions when reviewing the senior’s records.…
The fiscal cliff crisis dominated the last month of 2012. Even though an agreement was reached on New Years Day, the compromise is far from the end of partisan political battles and confusion. Observers are already making predictions about the possible implications of the looming “debt ceiling” fight between the…
The Daily Jeffersonian published a story recently on the bizarre details of a case involving a lottery winner’s apparent murder and the subsequent estate battle. Like the plot of a Hollywood crime drama, the tale includes a mysterious death, a series of hidden family feuds, and considerable money on the…
Like the monster from a horror movie that will not stay still no matter what is thrown at it, there are already suggestions that the apparent “final” decisions related to the estate tax may not actually be all that final. As we previously explained, as part of the fiscal cliff…
Timing is of critical importance with estate planning matters. Obviously, a plan must be in place early enough to be of use before one falls ill or suffers from mental issues. For example, creating a will or trust may be impossible after one suffers a stroke or succumbs to serious…
Concerns about public budgets seems to be a perennial problem. There is never a time when worries about how much public coffers are taking in and spending are not making headlines and spurring debate. Of course now is no exception, as policymakers at the local, state, and federal level are…
Virtually everyone agrees that it is important to invest for retirement, take care of inheritance details, prepare for long-term care, and otherwise plan for the future. But there is a big difference between understanding the value of these tasks and actually taking the time to do it. Considering the financial…