Are you in the process of evaluating, or considering a move into a retirement community? We have found that when it comes to choosing a retirement community, those who are happiest and most confident with their choice are those who carefully consider both the financial and non-financial aspects when making their decision.
Read MoreAs people age, they may find that living in a retirement community or continuing care community can offer them the support, care, and amenities they need to live a fulfilling life. However, choosing the right community and planning for life in such a community can be a complex process.
Read MoreWhen it comes to financial planning, one of the easiest and most important things to accomplish is an overall review of your estate plan. We suggest that you review your estate plan every couple of years or when there are changes in your family that may impact your estate planning. Here is a checklist of estate planning items to review that may be helpful.
Read MoreThe SECURE Act 2.0 altered the onset of Required Minimum Distributions (RMDs) from age 72 to age 73. However, the law made no change to the Qualified Charitable Distribution (QCD) rules. So, while a RMD is not required until age 73, a taxpayer over age 70 ½ is allowed to distribute directly from their IRA to their favorite charity and avoid taxation.
Read MoreMemory loss and other types of cognitive impairments become increasingly common with age. Making important financial decisions can be a challenge. This
Read MoreLet’s face it, in today’s world, managing your personal financial affairs can be complex. There are many decisions that need to be made on a weekly or even daily basis. For a large and growing segment of the population, who are trying to help aging parents with their finances, this can be incredibly frustrating, stressful and burdensome.
Read MoreIf you are over age 70.5, you are eligible to make a qualified charitable distribution (QCD). By doing so, you can benefit your favorite charities, while excluding up to $100,000 annually from your gross income.
Read MoreThere is no doubt that pensions are an extremely important asset and making decisions regarding these plans can be daunting and stressful. This is especially true since pension decisions are irrevocable! This article addresses common questions that should be considered when making decisions about your pension.
Read MoreWhen a loved one passes away, there are many financial decisions that need to be addressed. Anyone who has gone through this process will tell you that it can be overwhelming and stressful. For those who have, or will be receiving an inheritance, it is important to understand the tax implications, so you can make decisions that are consistent with your personal circumstances.
Read MoreAn adequately planned and properly executed estate plan can ensure that your assets will pass directly to your intended heirs with the least amount of cost and hassle. Here are seven essential elements when establishing a sound estate plan:
Read MoreMany financial planning objectives can be accomplished through the utilization of trusts. Here are several of the most common types of trusts and a brief overview of their purpose…
Read MoreOn the surface, it would seem that the decision to begin collecting Social Security retirement benefits is a straight-forward one – take the money as soon as possible. However, for many people, taking their Social Security retirement benefit as soon as they become eligible may not be the best alternative.
Read MoreLet’s face it, seniors today are healthier, more active and are likely to have longer lives. So what are the financial implications for retirees who will likely live well into their 90s and possibly their 100s?
Read MoreMany people would prefer that their estates avoid the probate process. While the probate process is not overly costly in most states, it is generally considered a hassle to those who have experienced it. The following is a discussion on several alternatives for avoiding probate.
Read MoreScam artists are always looking for new ways to prey on consumers. Now they are using the same tactics to take advantage of consumers' heightened financial and health concerns over the coronavirus pandemic. Here are some of the more prevalent coronavirus scams that consumers need to watch out for.
Read MoreWhen a loved one passes away, the grief coupled with the burden of settling their estate can be overwhelming. Here are a few things you can do to make the estate settlement process easier for your heirs.
Read MoreLong term care costs are expensive and rising every year. For many, a two or three year stay in a skilled nursing facility could cost several hundred thousand dollars and potentially wipe out a retirement nest egg.
Read MoreWe examine the changes that the SECURE act made on beneficiaries of retirement accounts. Beginning in 2020, the “stretch IRA” is eliminated for most beneficiaries. Also, we look at how trusts will be affected by the new tax law.
Read MoreSocial Security was originally intended to provide older Americans with continuing income after retirement. As people approach retirement, they generally have questions about Social Security and the benefit it provides.
Read MoreDisorganization can generate months of hassle as well as unnecessary attorney or advisor fees. In addition to making sure that the distribution of your assets is in line with your objectives, taking a proactive approach when planning your estate can save your grieving family a significant amount of time and hassle.
Read More
