Imagine you get married and within a year or two, your new spouse passes away. Now, imagine that your grief is compounded with financial stress.
Nobody likes to think about dying. However, it happens whether we prepare for it or not. If you don’t do some advance planning, it can cause even more longer lasting pain and grief, not to mention money and strained relations for your loved ones.
If you’ve heard of trust funds but don’t know what they are or how they work, you’re not alone. Many people know just one key fact about trust funds: they’re set up by the ultra-wealthy as a way to protect passing on significant sums of money to family, friends or entities (charities, for example) after they pass away.
Americans everywhere are concerned about the coronavirus. However, COVID-19 has demonstrated that it’s particularly serious for older adults whose immune systems naturally weaken as they age — and especially for those with chronic medical conditions, according to Dr. Samir K. Sinha, a member of the American Red Cross Scientific Advisory Council.
When it comes to your estate, paying for the professional services of a qualified estate planning attorney now, can help avoid issues in the future.
Estate attorneys are seeing a flurry of inquiries to update or draft trusts and take other estate-planning measures amid the coronavirus crisis.
Did you know that 70% of adults over the age of 65 are predicted to need some type of long-term care for an average length of three years? While thinking about your future, you’ve likely already planned financially, but have you considered your long-term care options?
Estate planning offers tools to establish and maintain effective control over cash, investments and real estate assets during a person’s lifetime and upon death. While wills and beneficiary designations work well to ensure that an estate plan meets the unique needs of the individual establishing the plan, each has its limits.
The $2 trillion stimulus plan includes a temporary waiver of required minimum distribution rules for certain defined contribution plans and IRAs for calendar year 2020.
When a loved one is experiencing cognitive decline, emotional and medical considerations often overshadow the financial planning that needs to happen. This is a potentially costly mistake.
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