Archive for April 2017
You Don’t Live in a Mansion? You Still Need an Estate Plan
Thinking about how you’d like your assets to be distributed after your passing is a start, but putting those thoughts into an estate plan ensures that your thoughts will translate into reality. Even if you aren’t wealthy or even near retirement age, you still need an estate plan. If you own anything, including a home,…
Read MoreWas this Billionaire Penniless? Mysterious Death Leaves No Clues
As part of a settlement of a lawsuit that charged Oklahoma Billionaire Aubrey McClendon with theft of trade secrets when he left the company, Chesapeake Energy Corp. has withdrawn its claim for more than $455 million against his estate. An Oklahoma City probate judge recently approved a settlement between Chesapeake Energy and the estate of…
Read MoreIs Someone You Love Without a Support System?
Elder orphans, a term used to describe seniors who don’t have children or a family support system, are growing in number. To protect themselves, they need to plan more than other seniors. With a health care system already straining at the seams from aging baby boomers, a new concern is rising: the care of elder…
Read MoreWhy Start College Savings a Generation in Advance?
Mighty oaks grow from little acorns, and a 529 you start for your someday-grandchild will also grow mighty with the benefit of decades. It sounds a little extreme, but when you think about the power of compounding returns, starting a college fund for a grandchild while your own children are still young makes a lot…
Read MoreHas Richard Simmons Become the Victim of Elder Abuse?
Mystery surrounding the disappearance of the fitness guru from the headlines sparked by podcast, but raises awareness of elder abuse. Richard Simmons was one of the more colorful workout characters of the 1980s. With a head of puffy curls and big brown eyes, he was known for wearing over-the-top workout clothes, including extremely short gym…
Read MoreHow Costs of Long-Term Health Care Hurt Farm Families
Failing to plan for the costs of long-term health care is a major issue for farm families hoping to pass their family business and land to the next generation. No one ever thinks they will need long-term health care. What most folks do is ignore the problem, or purchase the least expensive policy possible. For…
Read MoreGifting with Warm Hands While Trimming Estate Tax Costs
There are many ways to reduce estate taxes for those rarefied few who would otherwise have to pay them, a number of these strategies work best while you are still alive to see their results. If the prospect of paying more than 40% of the value of your assets in estate taxes disturbs you, remember…
Read MoreHow IRAs Fit into Overall Retirement Planning
IRAs can help make tax savings a part of your overall retirement planning strategy. There are great tax savings to be had with IRAs. They should be a part of everyone’s retirement savings plan. While you can go with a traditional IRA for immediate tax deductibility or a Roth IRA that provides for tax-free, long-term…
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