Around the Web: How the SECURE Act Affects Your Estate Plan
It is important to review your estate plans regularly to adjust for any changes that occur, whether they are legal or personal. This year, that is especially true. The Setting Every Community Up for Retirement Act, or SECURE Act, has made substantial alterations to how certain retirement benefits and IRAs should be treated after death. […]
Common Second Marriage Inheritance Issues You May Not Know About
In the United States, 60% of couples in a second or subsequent marriage have at least one child from a prior relationship. In 2008 one-third of people divorcing were actually re-divorcing (divorcing again). In blended families, it is important to make sure the children from your first marriage are not unintentionally disinherited. To make sure your intentions […]
How To Talk With Your Parents About Long-Term Care
The number of senior citizens in the United States is expected to jump from 45 million in 2010 to 86 million in 2050 thanks to advances in medicine and technology. The growing number of elders means a growing number of uncomfortable conversations with parents and grandparents. One of the topics that should be discussed is aging and […]
New Year, Old Assets: Updating a Living Trust for the New Year
End of life estate planning can be a difficult thing to confront. But that doesn’t mean it’s not important. Most Americans understand how helpful having a living trust is. In fact, 76% of Americans think it’s important to have one. Unfortunately, only 40% of those people actually do have a living trust. And even fewer […]
Around the Web: Understanding the Taxation of Security Benefits
Social Security is a truly wonderful program that distributes nearly 64 million benefit checks to more than 15 million retired workers. These monthly payments also benefit the survivors of deceased workers and those on long-term disability. This is a lifeline many cannot afford to lose. However, many might not realize that your Social Security benefit […]
Around the Web: How to Choose the Right Executor for your Estate
Taking care of loved one’s assets and debts while also grieving their passing is not an easy task. When it is time for you to choose an executor for your estate, there are a few things that would be beneficial to take into consideration. This article by the Washington Post discusses factors that should be […]
The Do-Over: Your Guide to Estate Planning in a Second Marriage
Among people 35 and over, the majority of people who get divorced go on to remarry. The numbers are also growing: 57% of people aged 35 to 44 whose first marriages end go on to enter a second marriage, and 63% of those 45 to 54 do the same. Even half of all people 65 and older […]
Around the Web – Beneficiary Designations that Can Cause Issues
There are many different issues to take into account while making your estate plan, specifically when it comes to beneficiary designations. This article by Forbes highlights seven of the most common issues that can really impact your plan if your beneficiaries were not carefully chosen. While it may seem like a simple task, but there […]
A Legal Guide to Long-Term Care Planning
According to the Longtermcare.gov the average cost of a nursing home is $6,844 per month for a semi-private room $7,698 per month for a private room. Many elderly individuals are not thinking about how to pay for long-term care. However, the cost of long-term care requires proactive planning to ensure that you have the resources you need to […]
Around the Web: Dos and Don’ts of Estate Planning
Talking about you or your loved ones’ inevitable passing can be uncomfortable, but it is necessary in planning your estate. It is very important to discuss your assets and estate plan so that when you do pass, the people who are closest to you won’t have added difficulty on top of their grief. This article […]