Author Archives: Site Administrator
Why You Need to Have a Plan in Place for Long Term Care
Since the U.S. Department of Health and Human Services shared that nearly 70% of Americans who are turning 65 will need long term care at some point, there is a good opportunity for planning ahead for your own future. The costs associated with long term care are not limited to medical care alone, as… Read More »
High Net Worth Families More Comfortable Revealing Information About Their Money
A recent study conducted by Wilmington Trust identified that individuals with high net worth who are older today are more comfortable sharing the intentions of their estate with the beneficiaries. The study included nearly 60 families with at least $20 million in assets but nearly three quarters of the study participants had at least… Read More »
Tips for Choosing an Executor
An executor is the individual who has the legal responsibility to ensure that your wishes for your estate plan are carried out as well as any taxes, debts and bills are paid. You need to identify someone who is competent as well as trustworthy and someone who can recognize that they might not have… Read More »
Why Even Millennials Should Be Considering Saving for Retirement
It’s far too easy to push off the prospect of saving for retirement when you are young and relatively healthy. It’s actually probably at the bottom of your priority list for any 20-something who is worried about paying student loans, paying the rent and trying to manage additional funds for travel and entertainment. However,… Read More »
Tips for Choosing an Executor
When approaching the estate planning process, your executor is the individual who has the legal responsibility to ensure that all of your estate planning intentions and plans are carried out to pay out any debts, bills and taxes, and to ensure that your assets are transferred properly. When identifying the right person to choose… Read More »
Planning for Your Future Healthcare Decision-making: What Are Superagers?
Some elders will retain a significantly sharper memory and cognitive ability than their peers. In a recent study, it was identified that these people all carry a very unique trait. The natural process of brain decline regarding memory begins in the late 20s and early 30s, however the average ager, according to a recent… Read More »
The Connection Between Your Estate Plan and Your Real Estate in Virginia
Most people don’t like to think about the prospect of estate planning, but it is also a necessity that needs to be dealt with. What will happen to your home when you pass away?The final wishes for a loved can become extremely messy and even controversial with your loved ones if you have not… Read More »
More Americans Are Passing Away with Debt Than Ever
A recent study of 220 million consumers in Experian’s File One database, indicated that up to 73% of consumers are passing away with debt in high numbers. For those individuals who do not have a home loan, the average debt was $12,875. However, consumers with a mortgage carried approximately $61,554 in debt. You may… Read More »
Wealth Planning and Long-Term Care Planning for Aging Parents
If you have the responsibility of taking care of your aging loved ones, this is an extremely common situation that is facing more people in the sandwich generation. The sandwich generation often has children of their own, while they are also helping with the health care management or the costs associated with the loved… Read More »
Why You May Want to Choose Trusts Over Wills
Last Will Concept After you have consulted with an experienced estate planning attorney to determine whether or not the estate tax will influence your assets after you pass away, it is then important to move on to the process of planning for your beneficiaries after you pass away. There are several different avenues for… Read More »