We’ve been so inundated with the idea of tax-free investment accounts that the taxable investment account’s role in retirement planning is underutilized and overlooked. If you’re like most Americans, you’ve got at least one and maybe a few retirement accounts. You like the tax benefits that come from having IRA's,…
Planning for life with Alzheimer’s includes selecting trusted family members or friends who can assist with legal and financial matters. It was at least three years after his diagnosis that comedic actor Gene Wilder revealed he was suffering from Alzheimer’s disease. This is not unusual, according to experts discussing his…
Certain organizations are known for providing amazing customer service. Social Security is not usually one of them. However, there are some services that Social Security does offer that are not well known and that could make life easier for many. Good news is hard to find when it comes to…
If you are the beneficiary of someone’s life insurance policy, you should know that there are options as to how the policy funds, known as death benefits, can be distributed. In most situations, the beneficiary of a life insurance policy does not have to pay income taxes on death benefits,…
If you are working after 70 ½, there are still ways to save money tax-free. Wage earners are not permitted to put money into a traditional IRA in the year they turn 70 ½ according to the Kiplinger article, “Tax-Smart Ways to Save When You're Too Old for a Traditional…
A cautionary tale ends with a will being declared invalid, firings at the local police station and a lesson in elder abuse. A wealthy 92 year old woman suffering from dementia left a $2 million estate to a local police sergeant but after three years of legal wrangling, her will…
It's best to know the difference between different types of Powers of Attorney before you need one, or more, of these important documents. It may be more fun to chat about exotic vacation getaways, but you will be better prepared for eventual situations if you have a basic understanding of…
Forget to make these changes and your heirs may never forgive you. Forget to align these documents, and your estate planning attorney will never forget you. Once the process of legally ending your marriage begins, you will need to make sure that your own interests are protected and that includes…
Having an emergency fund in place will help you deal with the unexpected. Surprising survey results point to this as a very weak link in many Americans’ financial plans. Seniors who have finally reached retirement age after decades of work and smart planning may think they are all set once…
You know you need life insurance to protect your loved ones. But do you know that having a will is equally important to protect against risks? Without a will, your family faces a number of potential financial disasters. If you think you don’t need a will because you aren’t wealthy…