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Charitable contributions and gifts make up a large aspect of many estates. As with everything, there is a right way to give and a wrong way to give. Planning can help ensure that your gift is properly funded and distributed according to your wishes. This planning may include using qualified…
Trusts are common estate planning tools in which a person can transfer ownership of assets to the trust. While this person is alive, they retain control over the assets in their life. Upon their death, the assets are distributed to the beneficiaries named in the trust. While the Person is…
A study released in late November in the JAMA Internal Medicine journal reported that dementia rates for individuals over the age of 65 years old is down almost 24% from rates found in 2000. There are a variety of reasons why this decline may have happened, including elders with higher…
Newly married couples are embarking on a whole new life together. This new life comes with a number of changes. It is important to consider your estate planning as you begin your life together. Creating an estate plan that works for both you and your new spouse can ensure that…
When choosing the people you trust the most to serve as a part of your estate plan in any capacity, whether they be a family member, close friend or trusted individual in the community, it is important to understand the role that you are asking them to play. Serving as…
Putting your assets in an irrevocable trust has a number of benefits, including: allowing the settlor, also known as the maker of the trust, to establish how his or her assets will be kept and eventually distributed, it allows the settlor to have access to the income produced by the…
There comes a time in many people’s lives when their adult children begin to help out with daily tasks. For some people this includes writing checks and paying bills. Many people begin to wonder if they should take steps to make being taken care of easier for their caregivers. In…
Nearly seventy percent of Americans who reach age 65 will require some form of long-term care support. Many of these seniors will need care for a number of years. On average, women require 3.7 years of care while men require only 2.2 years. Decisions regarding this care should not be…
The New Rule When consulting a financial advisor, we all assume that they would have our best interest in mind when determining where our portfolio should be invested and what investments best suit our interests, however, this has not always been the case. This year, the Labor Department issued new…
It may sound like common sense, but the older you are the longer you’re going to live. According to the Social Security Administration, men who reach age 65 can expect to live until age 84 and women who reach age 65 can expect to live until nearly 87. People are…