Five Factors to Consider When Purchasing Long-Term Care Insurance
The United States Department of Health and Human Services estimates that approximately 70 percent of Americans over the age of 65 will need some type of long-term care. Contrary to what many people believe,...
Think Twice Before Deciding to Serve as Trustee
If you have been asked to serve as a trustee, chances are you were initially flattered by the request. After all, it is quite an honor—a parent or other loved one thinks highly enough of you to entrust...
The Benefits—and Risks—of Giving Children Their Inheritances While You Are Alive and Well
According to a Merrill Lynch retirement study, 60 percent of people over the age of 50 would rather give inheritances sooner rather than later. Why? Many say they simply want to be there to enjoy helping...
Planning Tips for Singles
The 2013 United States Census indicated that 54 percent of women over the age of 65 were not married. The figure for men over 65 was 27 percent. There are many reasons for this, of course, including divorce,...
Is It Better to Buy or Rent a Home in Retirement?
Maybe you're looking to relocate to a state you've always dreamed about living in. Or perhaps you just want to downsize to a more manageable property. Whatever the reason, the decision whether to buy or...
The Benefits of an Irrevocable Living Trust
An Irrevocable Living Trust generally cannot be modified or terminated except under certain limited circumstances. It requires the grantor to transfer assets into the trust and give up his or her rights...
Make Sure Your Revocable Living Trust Is Properly Funded
You've taken the time to plan for the financial well-being of your loved ones and yourself. You've created a customized estate plan to address your goals and concerns. Your plan includes one of the most...
Family Feuds—When Heirs Fight Over Assets With Sentimental Value
When we think about heirs fighting over assets, it is the big ticket items that typically come to mind, such as the family home, investments, bank accounts and the like. However, it is often items of sentimental...
Do You Need a Prenuptial Agreement?
Okay, so you popped the big question, and he or she said yes! Whew, what a relief! Now there's so much to do, so many plans to make: the guest list, the invitations, the reception, the band, the cake,...
Planning Options for Parents of Troubled Adult Children
For parents of adult children who suffer from mental illness or addiction to drugs or alcohol, the planning challenges combined with the strong emotions involved can seem overwhelming. The last thing you...