You wouldn't play golf without a full set of clubs. Don't go into retirement without a fully equipped retirement toolbox. Retirement brings the freedom to explore a new stage of life. But for many, after years of working for others, it also means assuming responsibility for generating a paycheck for…
Lillian Palermo tried to prepare for the worst possibilities of aging. An insurance executive with a Ph.D. in psychology and a love of ballroom dancing, she arranged for her power of attorney and health care proxy to go to her husband, Dino, eight years her junior, if she became incapacitated.…
When asked about long-term care insurance, one senior said, "I've thought about it. I don't think it's worthwhile to buy at my age." She's 83. "I've thought about it but I really haven't looked into it," another woman said. Others simply don't want to talk about it. But a don't-ask-don't-tell…
One attorney calls it the "Get out of Dodge plan"—the best way to keep your assets intact before applying for Medicaid to cover nursing home costs. New Jersey is one of the most restrictive states when it comes to permitting residents to preserve assets for their benefit while Medicaid pays…
Consulting financial and tax advisers as part of planning the retirement process is essential to get the health-care piece covered. Enjoying truly golden retirement years means a lot of different things to different people, but it should include planning for long-term health care now so we obtain the end-of-life care…
Many business owners fear losing control. Before they’re willing to address exit or estate planning options, they must first be assured of complete dominion over their business. So let’s look at how to lock in ownership. Are you worried about losing control of your business? A recent Forbes article, “Control…
The New Year is a great time to regroup on your financial plans, reevaluate and/or create new financial goals. By sticking to your financial resolutions throughout the year, you can keep on track towards achieving your financial objectives in 2015 and beyond. Make the New Year a happy one by…
Couples planning to blend families often have to make financial arrangements that respect previous relationships with ex-spouses and their families. Issues range from childcare and eldercare to potentially complex matters involving businesses, investment assets and real estate. That’s why involving trained experts in stepfamily financial planning is a must. Blending…
Three estate planning questions to ask your parents right now. Caring for aging parents poses many questions, some of which you want to get out of the way early on. A recent article in The Oprah Magazine,titled“Sanity-Saving Secrets For Caring For Your Aging Parents,” suggests three questions to ask your…
We asked experts to let us in on a few resources most people overlook. Need more cash to help care for mom and dad? A recent Oprah Magazine article, titled “Sanity-Saving Secrets For Caring For Your Aging Parents,” has some ideas where to look for funds to support your…