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
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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
Elder Financial Abuse In The Digital Age
You are probably aware of the fact that many people who reach an advanced age become somewhat isolated. It is also not uncommon for elders to experience reduced mental capacity. These two factors help to make seniors targets of those who would seek to take advantage of them for financial gain. A lot of elders need assistance of one type or another with their day-to-day living needs, so family members, friends, or neighbors often pitch in. This is usually fine, but there are … [Read more...] about Elder Financial Abuse In The Digital Age
Inheritance Planning In Action
Let's say that you have reached the point where you are sitting in your favorite chair looking out the window contemplating your legacy. You may have a general idea of what you have to give and who you are going to give it to without having worked out all the details. When you arrange for a consultation with an estate planning attorney to hash out these details, he or she is going to let you know whether or not your estate is exposed to the federal estate tax. If it is, you're … [Read more...] about Inheritance Planning In Action
Estate Planning: Probate Can Complicate Things
The overarching goal of estate planning is to arrange for the smooth and efficient distribution of your assets to your selected heirs after your death. A lot of people automatically assume that the best way to do this is to execute a last will. Obviously you can go this route if you want to, but if you do your estate is going to have to pass through probate, and there can be some complications that go along with this process. If you're like most people you would prefer that your … [Read more...] about Estate Planning: Probate Can Complicate Things
Long-Term Care Benefit For Veterans
Planning for retirement involves more than simply financing the active period that will immediately follow your working career. Many people are surprised when they hear that the segment of the population that is at least 85 years of age is growing faster than any other. And of course advances in medical science take place virtually every day, plus people are learning more about how lifestyle choices impact their longevity. It's great to live a long life, but you must be prepared … [Read more...] about Long-Term Care Benefit For Veterans
