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If reform does not occur by the 2030s, benefits will most likely not be stopped, but will be reduced. Washington has known for a long time now that Social Security needs to be reformed, but it is not expected soon, according to Forbes in “When Can You Expect Social Security Reform?“. The problem is that […]
If you do not fund a trust during your lifetime, then probate gets involved. A living trust can get confusing and mistakes can be made, if you don’t pay close attention, according to the Times Herald-Record in “Importance of funding a trust.” A key to the living trust is that you need to transfer your […]
If you like your home and want to stay there in retirement years, it might be wise to take a look at it now from the point of view of the elderly. Stairs, small bathrooms, and too-high cabinets and countertops are examples of homes built in the U.S. that you may own and could cause […]
It might be a good idea to prepare for the disease that can come along before reaching retirement. It is not understood why, however, some people begin to suffer from early-onset Alzheimer’s long before reaching retirement age, according to the Massillon Independent in “Alzheimer’s not limited to elderly.” Because it is possible for you to […]
The estate tax gets a lot of attention. However, it only affects 1% of American families. There is a lot of political talk that goes on about the estate tax. However, the overwhelming majority of estates do not have enough assets to even begin to worry about having to pay it. For those who have enough […]
Many important subjects need to be discussed before your first baby comes along. However, don’t forget to consider key issues, such as health insurance, finances and guardianship. In the frenzy of making plans for your first baby including the route to the hospital, names and nurseries, it is important not to forget financial arrangements, according to […]
Clients might not know they are being defrauded. Estate planning attorneys must act with integrity at all times but, unfortunately, that does not always happen, according to the Federal Bureau of Investigation in “Lengthy Prison Term for Estate Planner Who Betrayed Clients.” Estate planning attorneys are often employed to handle large sums of money on […]
Entertainment industry reinforces the myth that estate planning is only for the wealthy. The entertainment industry feeds a myth that only wealthy people need to do estate planning, with a constant flow of scenes where the wealthy are the only ones planning. But that is not the truth, according to the Financial Advisor in “Estate […]
A common strategy to reduce estate taxes is to give away some assets before you pass away. Gifting to younger family members can be used as a strategy to reduce estate taxes. However, it also comes with the potential for the recipients to become wasteful or lose their incentive to preserve assets. However, there are […]
Life expectancy has been going up for decades. However, now it is going down. Life expectancy has been rising for decades for Americans but it has now gone into reverse, according to the Financial Advisor in “Americans Are Dying Younger, Saving Corporations Billions.” It is not certain yet whether this is a statistical aberration or […]
