Author Archives: Site Administrator
What You Need to Know About Individual Retirement Accounts and Estate Planning
Individual retirement accounts, most commonly referred to as IRAs, can cause problems in estate planning if you do not manage them correctly. Most married people will put the spouse as their primary beneficiary on their IRA; however, they might not worry about the IRAs in the process of the estate planning since they already… Read More »
Study of Baby Boomer Generation Shows Lack of Interest in Passing on Money to Heirs
Trillions of dollars will be passed on to future generations as baby boomers age in the next couple of decades. A recent study conducted by PNC Financial Services Group shows that if you’re anticipating a major inheritance from your grandparents, you might want to think again because only three out of ten people between… Read More »
Don’t Give Too Much Too Soon in Your Estate Plan
It makes sense that you want to pass on as much as possible to your loved ones. What’s even more important, however, is how you choose to do this. The timing of when you make a gift to a loved one can make a big difference in how your family member is able to… Read More »
The Four Critical Components of Living Trusts
A trust is a legal way of managing, distributing, and holding property. The selection of a living trust is very popular, but you should always understand what is needed to ensure that this trust is valid. In order for a trust to be effective and valid, it needs to have four different elements. First… Read More »
Can A Transfer on Death Deed Be Revoked or Changed Later?
A transfer on death deed can be updated at a later date. However, a ToD deed is not irrevocable. This is because the person establishing it has not transferred any real estates into it or given up any rights. This means they can change it at any time. A transfer on death deed performs… Read More »
Getting A Handle on Planning After the Birth of a New Baby
Congratulations on your newest addition. There are many different things to think about in the wake of becoming a new parent but one of the most important is putting an emergency fund. The U.S. Department of Agriculture shares that the cost of raising a child up to age 18 is more than $230,000 for… Read More »
Tax Planning Tips to Remember as You Approach the End of the Year
An uncertain legislative and tax environment should be prompting you to analyze all tax opportunities as you look forward to 2018. There are several different things you can incorporate into your planning considerations for 2017 as an individual. These include: Deferring income and accelerating deductions if you can. Using itemized deductions before they disappear…. Read More »
Long Term Care Prices Are on The Rise
Americans keep assuming, incorrectly, that the government will cover the vast majority of their long-term care expenses, but that is not true, and research shows that long term care expenses are only increasing. The Genworth 2017 Cost of Care Survey was recently released and the President and CEO of Genworth’s U.S. Life Division indicated… Read More »
Tips for Saving on Long Term Care Insurance
If you are looking ahead to the future to protect your own assets and to cover the very expensive cost of nursing home or other necessary care when you are older, long term care insurance is an important opportunity to protect your future. The majority of Americans over age 65 will need some type… Read More »
Are You Ignoring These Digital Assets?
There are plenty of different studies and toolkits that recommend incorporating digital estate planning but it is only as good as the value of your comprehensive planning. Overlooking common digital accounts could lead to major mistakes if you were to suddenly pass away. Research found that many participants have digital media assets in the… Read More »