In order for your parents to be properly prepared for the future, it is critical to discuss finances with them. To broach the topic, you might bring up current events like the coronavirus pandemic, its effect on economic conditions, and…
Just like you should visit your doctor for a yearly check-up, you should review your estate planning documents annually to make sure they are up-to-date. Children grow up, marriages dissolve, property gets sold, residences change. That’s why we recommend that…
For serious health conditions like ALS and Alzheimer’s, it is vital to have a strong power of attorney. Additionally, it is important to know that a good “basic” advance-directive document needs considerable supplementation when it comes to a dreadful illness…
Studies have found that over 64% of Americans don’t have an estate plan. Many Americans over the age of 65 believe they lack the knowledge necessary to adequately plan for retirement and are not knowledgeable about basic retirement tools, like…
In estate planning, a letter of instruction is an important component of the overall plan. It is an informal document that will give your loved ones important information about personal and financial matters after your death. Letters of instruction are…
Imagine a pair of aging parents that have been farmers and own their farm. Now, though, they’re getting on in years and they’re considering moving into a smaller place. One of the daughters and her husband help run the farm,…
When a family member has passed, the family sometimes ends up arguing over personal property. Arguments can take place over things like a coffee mug, a piece of jewelry or a painting. These types of arguments can be eliminated by…
Senate Democrats are proposing to lower the current estate tax exemption from $11.7 million to $3.5 million for individuals and $23.4 million to $7 million for couples. Whether this particular Congressional bill will pass into law is unknown; however, change…
The legally binding directive declaring who will receive your assets upon death is called a will, and a will is a significant element of a complete estate plan. If you die without one (intestate), the state will distribute your assets…
New troubling data regarding middle-income baby boomer retirement care preparedness is revealed by The Blackstone Group, an independent research firm, on behalf of Bankers Life Center for a Secure Retirement. According to the survey above, the bleak financial reality of…