Talk about going big–New York’s Governor Cuomo is expanding services for seniors at risk of elder abuse with an $8.4 million package, combining state and federal funding. Governor Cuomo announced that services for vulnerable adults at risk of abuse, neglect or financial exploitation will be improved through a new initiative…
Don’t assume that the new tax law means that you don’t need an estate plan. If anything, you need to review your estate plan to make sure you’re not missing out any new opportunities. When was the last time you reviewed your estate plan? If it’s been more than a…
The burden of saving for retirement shifted from employers to employees. It is now unusual for companies to offer pensions. If you’re lucky enough to have one, make your decisions wisely. It’s hard to imagine today, but years ago, it wasn’t unusual to stay with one company for a lifetime,…
529 plans are a great way to help parents with taxes and college costs. Grandparents, aunts and uncles and anyone who wants to pitch in, can also benefit. Starting to put aside money in a 529 college plan when children are very young, is a wonderful way to push yourself…
When the family vacation home is passed from one generation to the next, there are certain tax issues to be aware of, particularly the step-up in basis. However, there may also be state taxes. The first part of understanding the tax responsibility when you plan on giving it to your…
Selecting the individuals who will make important decisions on your behalf, when you are incapacitated or have passed away, is not to be done lightly. Is there a bomb ticking quietly in your estate plan? The chances are good that there is, says Forbes in “Defusing The Time Bombs In…
Even when planning for competency issues is in place, there can still be problems. When a highly-intelligent public figure makes decisions his kids thinks are wrong, who is right? The case of Buzz Aldrin, who is taking his son and daughter to court on charges of fraud, conspiracy and exploitation…
If taxes and cost of living are important factors for you, here’s a look at states where you should only retire with a good reason, like family ties. You’ve read plenty of surveys about the best places to retire, but have you ever looked at the worst ones? Think Advisor…
Neglecting to plan for family dynamics can destroy the best estate plans. Make sure to address both difficult personalities and tax liabilities. They can be equally problematic. Saving loved ones from a large tax bill and maximizing the transfer of wealth across generations is great, but your estate plan needs…
Most young adults are not thinking about retirement when they get their first jobs, but starting early, even if on a very small scale, can make a big difference. When you are working to pay off student loans and trying to save enough to get a place of your own,…