Category: Estate Planning
If you are expecting an outright inheritance, you may need to think again. Expecting a sizeable inheritance? A recent Forbes article, titled “Why You May Not Get An Inheritance (And What To Do About It)“, provides some sound advice and thoughts to ponder. Good (and recent) financial decisions. Parents like to see a pattern of […]
To grasp the importance of planning for the distribution of your worldly goods, consider all the things that influence what happens to them. An Estate Plan is a form of defense for your estate. But you also need to defend that plan against future influences. A recent Kiplinger’s Personal Finance article, titled “Forces That Affect […]
Federally insured reverse mortgages, issued under the Home Equity Conversion Mortgage program, are a way for homeowners 62 and older to borrow money using their home equity as collateral. Reverse mortgages can be costly, but are (in some cases) the only option for older homeowners without cash and who have mounting health care expenses. A recent […]
There is no question that most of the burden falls on women for the physical and financial impacts of caregiving. As parents live longer, more women are feeling the crunch. Who do you think is depended upon more for taking care of elderly parents — men or women? A recent article in Forbes stated that […]
Warning: Don’t let your pets crack your nest egg. “The topic of pet expense is rarely discussed,” says Richard Rosso, a senior financial adviser with Clarity Financial LLC, a Houston-based financial-planning firm. “But it shouldn’t be ignored.” Retirement planning largely involves how to budget living expenses. Just make sure you have accounted for those furry […]
The math gets complicated fast, because there are so many variables. How much to save depends on things like your future wage growth, inflation, longevity, future spending needs, what year you hope to retire, and whether you have a defined pension in addition to Social Security. What does it really take to retire? How much […]
While a family member or friend may be willing to care for your cat or dog or cockatoo, that’s a commitment not to be taken lightly. Aside from the cost of maintaining a pet, there is daily care, and for any number of reasons you may not have someone you can depend on to take […]
Financial planners believe that one’s financial affairs should be organized in such a way that if today is the day that your life changes forever; you are as prepared as you can be. Planning for the unexpected is tricky. How do you know what you’ll really need in the future? It’s best to err on […]
Here are the four estate-planning documents everyone needs. Don’t think you really need a will? Think again! Creating a will with a qualified estate planning attorney is the best way to ensure your wishes will be honored and moved quickly through the legal process. As The Wall Street Journal warns in “Four Estate-Planning Documents Everyone […]
There are basic rules and guidelines that apply to every estate plan, whether it is taxable or not. Draft an effective plan by paying attention to these guidelines, regardless of what the tax law is or might become. You always can make adjustments if the tax law changes. What’s your excuse for not having an estate […]
