The stock market has been in a free fall, and Americans are experiencing a type of fear that hasn’t been seen since the polio epidemic in the 1940s and 1950s. During those decades, polio outbreaks in the U.S. crippled more than 35,000 people yearly, on average. Parents were afraid to…
Articles Posted in Estate Planning
Pet Power of Attorney: More People are Planning Around Their Pet, Expert Says
It was recently National Love Your Pet Day, and although you might think of your pet as family, under the law, pets are regarded as property – so although you can’t leave them money in your will, there are other ways you can make sure they are protected in the…
“None of Your Business” Is No Longer An Appropriate Response
Let’s say a married couple indicates in their estate plan that on the first of their deaths, the predeceasing spouse’s assets will be held in a trust. During the surviving spouse’s lifetime, they are the beneficiary and trustee of the trust, and once the surviving spouse passes away, the remaining…
3 Stretch IRA Alternatives for Estate Planning
The elimination of the Stretch IRA as part of the Setting Every Community Up for Retirement Enhancement (Secure) Act is going to create big changes for wealth advisors, estate planners, and parents planning to leave behind savings in individual retirement accounts for their kids. “For a lot of people, the bulk of…
SECURE Act makes big changes to retirement savings, estate planning options
An important new federal law went into effect January 1, 2020 called the SECURE Act (Setting Every Community Up For Retirement Enhancement). This law will change retirement savings and estate planning options for many people. Here are a few of the changes this act puts into place that may have…
Here’s What Happens to Your Partner if You’re Not Married and You Die
Maggie Kirchhoff, a certified financial planner with Business & Personal Finance in Denver, has been with her partner, Matt, for 13 years. The two do not plan to ever get married, and they know this means they won’t get the same automatic rights and protections that those who are legally…
Two-Thirds Of All Americans Are Missing This Estate Planning Document
For most Americans, estate planning can be complex and daunting. It might seem overwhelming and expensive, and it isn’t easy to confront one’s mortality and make the necessary decisions for it. Nevertheless, it is essential that every American have one important estate planning document: A Health Care Directive. A health…
Prevent Elder Financial Abuse
The financial abuse of elderly people in the United States is unfortunately a very serious problem, with more than $36 billion being stolen from elders each year according to The True Link Report on Elder Finance Abuse 2015. The True Link study showed that seniors from all walks of life…
Stop procrastinating and get an estate plan—here’s how to get started
You know you need to create a will, but you keep putting it off – it’s difficult to think about dying and about who will take care of your family after you have passed away. But if you’ve only scribbled some notes or considered which lawyer to hire, you risk…
Where There’s a Will Isn’t Always the Way!
Oftentimes, federal workers and retirees don’t bother with estate planning and think that getting a will off the internet and getting it notarized is all they need to do. However, this isn’t necessarily enough. If you are or were a career civil servant, own a house, have money in your…