New tax law changes may have a significant impact on estate transfer strategies in the future. While it is too early to know what will become law, the House Ways & Means Committee tax plan draft indicates that change is…
It is important to consider who you would trust to manage your finances when you are no longer able to. A power of attorney (POA), otherwise known as an agent to your principal, has the legal authority to represent and…
Unfortunately, it is fairly common that seniors fall victim to financial scams. Sadly, the elderly are often taken advantage of by strangers — and sometimes even their own family members. That’s why it’s important that planning is in place to…
Protection of your children’s and grandchildren’s inheritance from creditors can be accomplished through estate planning. A simple way to achieve inheritance protection is through a trust. A trust can pass your wealth bypassing probate. This allows specific trust provisions to…
One of the most important rights of being a US citizen is the right to vote, but this right could be revoked if you became a ward in a guardianship. Having a strong power of attorney is essential to avoid…
In order to make the most of your estate and government benefits, several factors need to be addressed before turning 65 years old. Overall the most crucial thing to do before turning 65 is to invest your time wisely crafting…
A complete estate plan must include a will, which is a legal document that disperses your property upon death. If you die without one (intestate), the state will distribute your assets and property via state law and quite possibly at…
You would hope your living will was properly prepared and your resuscitation instructions or DNR (do not resuscitate) are in order. While your wishes in a living will may be appropriately documented, that does not guarantee the instructions will be…
As a married couple grows older, let’s use Ginny and George as an example, it is typical that they would like to leave their assets to their extended family when they pass. Unfortunately, Ginny was then diagnosed with cancer. She…
A rising number of retirees and aging Americans are using bankruptcy as an option to get out of debt. While medical advances are keeping seniors alive longer, the associated healthcare costs in the quest for longevity are being off-loaded onto…