Category Archives: Saving(s)
How Does a Spendthrift Trust Protect Heirs from Themselves?
This is not an unusual question for most estate planning lawyers—and in most cases, the children aren’t bad. They just lack self-control or have a history of making poor decisions. Fortunately, there are solutions, as described in a recent article titled “Estate Planning: What to do to protect trusts from a spendthrift” from NWI.com…. Read More »
How Much Money Is Needed for Long-Term Care?
You probably know that healthcare is a big expense for retirees. If you don’t, it is important to understand that the cost of long-term care is very high. Research shows that 70% of seniors 65 and over will require some type of long-term care in their lifetime. This could be as little as a… Read More »
Retirement and Estate Planning Work Better Together
So, you’ve been married for a while, and you’re both comfortable with which bank accounts, credit cards and investment accounts are shared and which other accounts are kept separate. However, where the big picture is concerned—like coordinating retirement plans, health coverage and tax planning—you both need to take an active role in planning and… Read More »
Are You Retiring in 2019? Here’s What You Need to Know
There are more than few steps you’ll need to complete, before packing up your desk, cubicle or locker and saying good bye to your work family. Even if your 401(k) and IRA is in order, there are things you need to during the last few months of working, says Next Avenue in the article… Read More »
Why We All Need to Have an Estate Plan
Putting off estate planning is never a good idea. Life happens, and before you know it, “someday” arrives. Having an estate plan is advisable for everyone, says the South Florida Reporter in the article “Why Estate Planning is so Important.” It doesn’t matter if you are rich or poor—you need an estate plan. People… Read More »
What is a Medicaid Annuity?
A common situation happens to many elderly people—needing long-term nursing home or assisted living care—without having the money to pay for it. These people may think about applying for Medicaid, the joint federal-state program that offers health coverage to eligible low-income seniors, but because they have a little too much money to qualify, they… Read More »
Will a Reverse Mortgage Help Me in Retirement?
It’s not uncommon for a homeowner to take out a home equity line of credit or borrow against an existing one. This can provide the funds to pay some bills and stay afloat. Another option if you’re at least 62 with a home that’s not heavily mortgaged, is to take out a reverse mortgage…. Read More »
Here’s How You Know You’re an Adult: 10 Documents
Fifty is a little on the late side to start taking care of these important life matters. However, it is better late than never. It’s easy to put these tasks off, since the busyness of our day-to-day lives gives us a good reason to procrastinate on the larger issues, like death and our own… Read More »
What Do I Need to Know About ABLE Accounts?
Millions of Americans with disabilities and their families depend on public benefits to help provide income, health care, food and housing assistance. Eligibility for assistance through Supplemental Security Income, SNAP and Medicaid is based upon a resource test, so disabled individuals seeking benefits are typically limited to no more than $2, 000 in savings… Read More »
Saving for Retirement: It’s Never Too Late
Maybe you haven’t looked at your 401(k) statement in a while, but if you have and it doesn’t seem like it will be enough for retirement, don’t panic, says Bloomberg in the article “Bigger 401(k) Contributions Are Easier for Empty Nesters.” How is that possible, when your car needs to be replaced soon and… Read More »