Believe it or not, a significant portion of the people in America seem to think that retirement is an entitlement that just drops into your lap. To gain a proper understanding of the matter it is useful to look at the concept of retirement in a very basic, stripped-down manner. The word "retirement" describes the act of ending your working career. It doesn't imply any automatic influx of income that allows you to do so in financial comfort. If you plan on retiring when … [Read more...] about Do You Have A 401(k) Account?
Blog
Being Prepared Requires Comprehensive Planning
Planning for the future requires more than simply filling out a last will document or otherwise preparing for the eventual transfer of your assets to your loved ones. There are a lot of things to consider with regard to the eventualities of aging, and if you want to be comprehensively prepared you have to cover all of your bases and develop a holistic plan. Everything is connected, and this is a good thing to keep in mind as you go about the process of long-term planning. When you … [Read more...] about Being Prepared Requires Comprehensive Planning
Reverse Mortgages Can Help With Long-Term Care Costs
Planning for your retirement can be a lot of fun as you anticipate an extended period of time that will be yours and yours alone. Most of us have many things on our "to do" list and it is exciting to have the opportunity to do some traveling and otherwise do things that we never had the time to do while we were engaged in our careers. However, when you're making plans for the future, it is important to remember the time that will follow your active retirement years. Many people are not … [Read more...] about Reverse Mortgages Can Help With Long-Term Care Costs
Retirement Planning Is Often Overlooked
There is a certain percentage of population that goes through life under the impression that "things will just take care of themselves." This may or may not be the case in certain instances, but when it comes to retirement planning thinking like this can get you into a great deal of difficulty. The fact is that a lot of people who are nearing retirement age and many who are already there are totally unprepared. A recent Harris poll indicates that 25% of baby boomers have no … [Read more...] about Retirement Planning Is Often Overlooked
Straightforward Approach To Estate Planning
Because of tax laws and certain specific safeguards you may want to include in your estate plan somewhat complicated financial instruments are sometimes utilized. But even when this is necessary you can also add some other components to your estate plan that are simple and straightforward. There is no reason to make things more difficult than they have to be, and this is one of the reasons why it is a good idea to consult with an estate planning attorney when you're serious about … [Read more...] about Straightforward Approach To Estate Planning
The Information Age & Your Estate Plan
The technological advances that we make as a society impact every industry and estate planning is no exception. We live in the information age, and these days we can do meaningful research quickly and efficiently with the simple click of a mouse. This is for the most part a very positive thing, but you have to be aware of websites claiming that estate planning is as simple as filling in the blanks on a generic template. The fact is that there can be multiple documents involved, … [Read more...] about The Information Age & Your Estate Plan
Avoiding Multiple Estate Tax Levies
The impact of the estate tax is a matter of great concern when you are planning your estate, and the first thing you have to determine is whether or not your estate is subject to it. The current exclusion amount is $5 million so if your estate is worth less than this it is not exposed to the estate tax. If it is worth more, the portion that exceeds the exempt amount is subject to a 35% federal levy. Does this mean that you do not have to concern yourself with the estate tax if … [Read more...] about Avoiding Multiple Estate Tax Levies
Elder Law Considerations
When you are in the process of planning your estate you are very likely to see a bigger picture. Retirement planning, making preparations for your twilight years, and estate planning all walk hand-in-hand. This is why it is a good idea to identify an estate planning attorney that has a wide focus early on to help you chart a course for the future that addresses all of the eventualities of aging. If you set goals and work toward them over a number of years you will be able to enjoy … [Read more...] about Elder Law Considerations
A Revocable Living Trust Can Enable Probate Avoidance
When you come to the conclusion that it is time to take action and put an estate plan in place one of the things that you are going to have to decide on will be the vehicle or vehicles of asset transfer. To many people this equates to the creation of a last will, but a last will is not your only option. In fact, a lot of people would say that it is not the best choice because your estate has to pass through probate when you use a last will as your primary asset transfer … [Read more...] about A Revocable Living Trust Can Enable Probate Avoidance
Ongoing Legislative Changes & Your Estate Plan
One of the things about estate planning that you would do well to recognize early on is the fact that it is an ongoing process. Things within your own life do not stand still, and significant life changes are going to make certain aspects of your existing estate plan obsolete. For example, if you were to get divorced you would probably want to change things around considerably. Then if you were to remarry, your family dynamic would change again and you would inevitably want to … [Read more...] about Ongoing Legislative Changes & Your Estate Plan
