Conversations with family, friends, and colleagues can sometimes wander into the topic of lawsuits, divorces, bankruptcies, and other threats that put one’s property at risk of loss to a creditor. Such conversations often leave people shaking their heads, asking what the world is coming to, and feeling vulnerable and frustrated. However, an important tool has… Read More »
Posts Categorized: Financial Planning
The COVID-19 pandemic has led to volatile markets, and your retirement account may have a much smaller balance than only a few short months ago. In response to the economic fallout stemming from the pandemic, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which was signed into law on March 27,… Read More »
As baby boomers age, they are spending more and more of their assets on their children. How will this affect their estate plans?
Wealth building is so simple it can be explained in one sentence — Spend less than you earn and invest the difference wisely.
Could you be legally liable for paying for your parents’ care?
Millions of Americans are managing money or property for a loved one who is unable to pay bills or make financial decisions. This can be overwhelming. But it’s also a great opportunity to help someone you care about, and protect them from scams and fraud.
Seniors and disabled individuals enrolled in Medicare Part A–which covers hospitalization and limited nursing home care and is free for most beneficiaries–do not need to buy a marketplace plan, because they are already meeting the insurance requirements.
The Uniform Gifts to Minors Act (UGMA) and the Uniform Transfers to Minors Act (UTMA) are sometimes called the “granddaddies” of college savings accounts. Both allow parents to establish custodial accounts for a minor child, and a grandparent can then make gifts to the account.
According to the Alzheimer’s Association, more than 5 million Americans today have Alzheimer’s disease, the most common form of dementia. Thus, it’s likely that you or someone you know has a loved one living with dementia.
Here is a way to test drive your estate plan while you can still tweak it.