“In your 30s, finances get real”
Sarah Michaelson wrote over at Business Insider, “I remember putting money into a 401(k) in my 20s, and retirement was an abstraction: a far-away land that I would reach in another lifetime.” We see a lot of it among younger workers; the word retirement isn’t in the vocabulary, or if it is, it’s an abstract notion of […]
Why create a revocable or irrevocable trust?
If you’ve done any sort of research about estate planning, you’ve likely come across the term “revocable trust.” It’s a common tactic lawyers such as ourselves recommend to help avoid unnecessary taxes and keep processes simpler upon a person’s passing. But if you don’t understand what it is, it can be confusing. So here’s a […]
Around the Web: Medicaid’s struggle with nursing home expenses
As the discussion about Medicare and Medicaid continues to go on, TIME recently published an article analyzing a huge burden on the Medicaid system: Nursing home expenses. There can be astronomical figures associated with these needs, too: Experts estimate that about half of all people turning 65 today will need daily help as they age, either […]
Around the Web: Long-term insurance issues
Long-term insurance policies are focused on issues such as day-to-day living expenses and the assistance some people need to live life to the fullest. It’s not an uncommon policy to find in people’s portfolio, especially as a office devoted to elder car law and estate planning. However, the industry behind these policies is in trouble, and policyholders […]
Around the Web: Retirement age, but not retiring
Retirement is a hot topic for all ages. For those younger, it’s often a matter of saving for it or sometimes wondering if it’s a realistic possibility for them. But for those nearing retirement age, it’s a topic that speaks to an entire life change. The New York Times recently published an article entitled “Of […]
What if I’m single?
Typically, you’ll hear us talk about how much of an impact an estate plan can have for a family. And it’s true: Loved ones go through far less questions, decision-making, and inconvenience with a proper estate plan in place. The same is true for those who aren’t married – but there are different challenges. In fact, […]
Do military families have estate planning challenges?
Our men and women who serve our nation at home and abroad face different challenges than the everyday person. And when it comes to estate planning, those in uniform absolutely face challenges – and many of them. For instance, some soldiers are deployed into active-duty combat, which brings an entirely new set of circumstances for […]
Prince, Purple Rain, and a Failure in Estate Planning
Prince’s recent passing drew scores of remembrance across the international spectrum. But he clearly ignored his own advice in songs like “Purple Rain”: I never meant 2 cause you any sorrow I never meant 2 cause you any pain I only wanted 2 one time see you laughing I only wanted 2 see you laughing […]
Around the web: “Senior moments” explained by Georgia Tech
Recently, the Georgia Institute of Technology took a look at the concept of a “senior moment” and found a striking conclusion: Their minds have trouble sifting through much of what is absorbed, leading to trouble recalling information when needed. This ultimately leads to less confidence in one’s memory, which has adverse effects. Per their press […]
Wills, asset protection aren’t just for the wealthy
When many people hear the phrase “asset protection” they immediately tune out, because they think it relates to business owners or those who own property. However, it’s a much wider-ranging phrase than it may initially seem to be. Do you own a checking account? What about a savings account? Have a retirement plan? Any sort […]