January is an excellent time to review and update your estate plan – even if all you do is make a list of the things you mean to do in 2016. A recent article in The Business Investor's Daily, "5 Changes to Make to Your Financial Plan Now," provides a…
Keeping all the balls in the air can be a tough juggling act, according to "The Sandwich Generation Juggling Act," from the website Next Avenue. Jugglers know that adding that fourth airborne ball to their juggling routine can be a challenge for most. Today, we have a societal juggling act…
Financial planners who help families build and manage assets are often asked what documents are needed in an estate plan. The following documents create a foundation of an estate plan: an up-to-date will, a durable power of attorney for health care (sometimes called a health care proxy), and an advance…
The only way to make sure that your wishes are carried out after your death is to have the proper estate planning documents prepared in advance, according to a post from WMUR.com, "Money Matters: Common estate planning mistakes." Some people make the mistake of thinking that estate planning will be…
An entire $3 million estate of a Texas doctor was awarded to his ex-wife in a recent court ruling. Mrs. Denise Reichert took the oath of independent executrix of the will and estate of Dr. Oscar Reichert. The judge who presided over the hearing dismissed the contest of will filed…
It’s simple math. A plan to save more and spend less is a good plan for retirement. But a recent Forbes article, "The Most Potent 401(k) Booster," says that if you have the self-discipline and the ability to plan, you can shrink your debts and add to your emergency, college,…
Trusts offer many advantages in estate planning. Privacy, avoiding probate, more control over personal finances, the ability to more closely monitor investments and tax planning are a few of the reasons to incorporate trusts into your estate plan, according to a recent article in Wilmington Business, "Selecting the Right Trustee."…
It’s very important for individuals who are diagnosed with dementia to appoint a trusted family member or friend to make a commitment to help them make important financial and medical decisions when they no longer can do these tasks. According to an article in Money, "5 Essential Documents for Protecting a…
An interactive online tool has been released by the U.S. Consumer Financial Protection Bureau (CFPB) that walks consumers through a series of questions to help them better understand the optimal time to file for Social Security benefits. The "Planning for Retirement" site is an attempt to address a serious problem…
Naming a beneficiary for your IRA, 401(k) or any other retirement plan and then making sure that the name is right as you go through the many stages of life could be one of the most important financial decisions you make, according to The (Crystal Lake, IL) Northwest Herald in…