Planning your own funeral sounds morbid, but if you think of it as a gift that alleviates pressure and decision making for your loved ones during a very difficult time, it might make it easier to move forward. Usually the call comes to the estate planning attorney from a child…
This is easier in some families than others, but discussing your parent’s estate plan and assets while they can still have that conversation is important for millennials. Think of it this way: you can have an awkward conversation with your parents now and everyone can get more comfortable with the…
With legal actions and media attention surrounding resident evictions, skilled nursing facilities (SNF) are learning more about what they can and cannot do. Seniors and families also need this information. It’s hard to imagine an 83 year old being booted out of a nursing facility, but as seen in the…
Many things change when you retire, including tax strategies. Steps that you took when you were working, may now work against you. Knowing what has changed and what you need to do can help avoid unnecessary tax liabilities. Tax planning is different after retirement. You might think that a lower…
With few exceptions, most of us are living digital lives. That includes basics like sharing family news on social media and storing photos in the cloud, as well as financial information. Your digital life needs to be part of your estate plan, now more than ever before. Your executor and…
First, say thank you. Then, learn more about the rules about paying taxes on a financial gift. Couples whose families are generous enough to give them help towards buying their first home are often concerned with what, if any, tax liability may be created. Do they have to pay taxes…
Estate planning is not just for people who live in mansions. Quite the opposite! Everyone needs to have an estate plan to protect themselves while they are living and to protect loved ones when they pass. Having an estate plan can eliminate confusion, expensive delays and overall bad outcomes, according…
The cost of long-term care insurance may not be cheap, but the cost of long-term care is extremely expensive, and is only moving higher. Long-term care insurance is costly, but health care costs for seniors who need long-term care could easily undo decades of retirement planning. Here’s what you need…
With the number of late in life marriages among older Americans on the rise, it is best to address financial, legal and blended family issues before walking down the aisle. We Americans like to be married. So much so that, according to the U.S. Census Bureau, about a third of…
Parking a “granny pod” in the backyard may be the best way to have aging parents near, but not under, your own roof. Finding suitable and affordable housing for aging parents is a real challenge for many families. A senior lifestyle community may be too expensive, but living on their…