There are certain misconceptions floating around with regard to estate planning that should be debunked. When you act, or fail to act, due to bad or inaccurate information you can often put yourself and your family in a bad situation. With this in mind let's take a look at a few of the myths that are out there. One of them regards the estate tax. Some people are under the impression that they don't have to worry about it because they're not rich and this is a tax that is … [Read more...] about Avoid Misconceptions Regarding Estate Planning
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Estate Planning: Explain Your Wishes To Your Family
There are those who like to keep their financial affairs close to their vests, and many of them have good reasons for doing so and of course this is a personal matter. However, when you are engaged in inheritance planning you may want to reconsider some long held convictions in this regard. There may come a time to open up a bit in an effort to make sure that your loved ones are on the same page after you pass away. The first consideration is going to be avoidance of challenges to your … [Read more...] about Estate Planning: Explain Your Wishes To Your Family
Davis Inheritance Plan For The Raiders
If you have been a fan of NFL football for a while you are well aware of the impact that Oakland Raiders owner Al Davis had on the sport. Davis became the owner of the team in 1970 and guided the franchise to four AFC Championships and a trio of Super Bowl triumphs. He worked with legendary coach John Madden and watched superstars such as Fred Biletnikoff, Daryle Lamonica, George Blanda, Jim Plunkett, Marcus Allen, Lester Hayes, and Art Shell carve out iconic careers. Al Davis … [Read more...] about Davis Inheritance Plan For The Raiders
A Legacy Of Wisdom
Depending on just how seriously you take your legacy, there can be a lot more to estate planning than just preparing your assets for eventual transfer to your heirs. When you sit back and ruminate with regard to your life's path you may find it to be relatively easy to come to terms with your own mortality. The thing that bothers a lot of people more than anything else is the fact that they will no longer be around to counsel their loved ones. Without question, financial resources … [Read more...] about A Legacy Of Wisdom
Social Security COLA On The Way For Seniors
When you analyze the reasons why such a high percentage of people have not made any retirement plans you have to assume that many of them have overly optimistic expectations regarding Social Security. This program is intended to be a safety net that can supplement your retirement income, but it is not an end-all in and of itself. A recently conducted poll of baby boomers who are nearing retirement age found that most of the respondents were going to be relying on Social Security to make … [Read more...] about Social Security COLA On The Way For Seniors
Cuts To Medicaid May Be In The Offing
Many people have no idea how much long-term care costs or how likely it is that they're going to need it. This is a matter that is swept under the carpet because for one thing many individuals simply don't want to go there mentally, and when you're elder years are a long way off the subject may not seem relevant. But in reality it is a matter that you may want to take into consideration as soon as possible, because the expenses are considerable, most people will need care, and … [Read more...] about Cuts To Medicaid May Be In The Offing
Pay On Death Accounts For Probate Avoidance
"Probate avoidance" is a term that you will hear often when you begin to do some research into the subject of estate planning. If you have no idea what probate is let alone why you would want to avoid it let's start by providing a brief explanation. Probate is a legal process that takes place under the auspices of the probate or surrogate court. The court is responsible for determining whether or not the last will that is presented is in fact valid. If it is, the probate … [Read more...] about Pay On Death Accounts For Probate Avoidance
Living Wills Are Important Too
When you ask the typical person on the street about estate planning he or she may well tell you that the exercise is all about drawing up a last will to direct distribution of your assets after you pass away. Everyone is aware of the last will, and it is indeed the most commonly utilized vehicle of asset transfer in the field of estate planning. But there are other ways to transfer assets to your loved ones, and the last will is not always the best choice. And beyond this, there … [Read more...] about Living Wills Are Important Too
Marital Agreements Can Provide Legacy Planning Solution
Regardless of the specifics of your family situation estate planning is something to take seriously and be proactive about. However, when you are a parent who is divorced and you intend to remarry you are probably going to want to engage in some rather advanced estate planning that requires additional expertise. We live during an era when divorce is quite common. Statistics on the subject vary, but somewhere in the vicinity of 40% to 50% of marriages are ending in divorce these … [Read more...] about Marital Agreements Can Provide Legacy Planning Solution
Incapacity Planning Is Key
Aging is a natural part of life, and to be frank there are some eventualities that go along with it that are not entirely pleasant. To mitigate the negative impact of the potential challenges that exist you need to plan carefully in advance. Doing this involves educating yourself and gaining an understanding of what may lie in wait so that you can take appropriate action to make sure that you are prepared. Incapacity strikes many people who reach an advanced age. Sometimes … [Read more...] about Incapacity Planning Is Key
