Archive for December 2017
Retirement Finances for Those Who Have No Intention of Retiring
If you love your work and don’t want to give it up, your retirement plan is different than the person who is counting the days until they can stop going to work. The number of people who chose to keep working is expected to rise, as reported in a recent article from MarketWatch, “How to…
Read MoreA Relatively New Task for Executors: Digital Footprint
It is hard enough to deal with a home filled with a lifetime of possessions! Now add to that the executor’s newest responsibility: their loved one’s digital footprint. Executors today are facing a relatively new task: managing online accounts, photos, posts and more that comprise an individual’s digital footprint. According to an article in The…
Read MoreWhat You Need to Know to Make Required Minimum Distributions Less Taxing
Those pesky RMDs can wreak havoc if you haven’t done proper tax planning. With the deadline just around the corner, it’s time to finalize your RMD decisions. If you’re 70½ and required to take your annual RMD or face the 50% IRS penalty, you don’t have much time left to act. With the stock market…
Read MoreHoliday Season Brings Increase in Phone Scams Targeting Seniors
When the holiday decorations go up, so do the number of phone calls to the elderly. This is when scammers work to gain access to their bank accounts, credit cards and other financial assets. According to a survey from the financial educational organization Investor Protection Trust, one in five Americans age 65 and older has…
Read MorePlanning on Working Part Time During Retirement?
There are pros and cons to working during retirement, even if you are just working part time. You’ll need to know how the additional income impacts your Social Security and retirement account distributions. Not everyone’s idea of a blissful retirement includes a life of full-time hobbies. For those who want or need to keep working,…
Read MoreTips on Naming a Trustee
Selecting a trustee should be a thoughtful decision, taking into consideration the person’s ability to manage money and make decisions. Unfortunately, that’s not usually what happens. A snap decision made so that documents can be prepared on a timely basis is not the way to pick a trustee. This person or persons will be making…
Read MoreWhen Roles are Reversed: Helping Aging Parents
As parents age, their adult children shift into the role of caretakers, making sure their housing, medical, financial and legal needs are being properly handled. It’s never a happy scenario when an independent parent becomes unable to live on their own and needs their adult children to become involved with their day-to-day life. There are…
Read MoreWhen Should You Start on Your Estate Plan? How About Right Now?
No matter how old (or young!) you are, no matter the size of your estate, or how far away retirement is, you need an estate plan. Life happens, often unexpectedly, and an estate plan protects you and your family. One of the reasons for an estate plan is to provide detailed instructions to your spouse…
Read MoreLas Vegas Gunman Had No Will and a Sizeable Estate
With no children and family members who want to see his assets go to victims, figuring out how to handle the estate of the man who murdered and maimed concert goers will take some time to figure out. Stephen Paddock died with no will and an estate worth an estimated $5 million. Newsweek’s recent story,…
Read MoreAn Unusual Response to a Billion Dollar Award: It’s Too Much!
A jury ordered JP Morgan Chase to pay $8 billion to the offspring of an American Airlines executive for mismanaging their inheritance, but the kids think it’s excessive. The bank expects the entire matter to be overturned by the Dallas, Texas court system. The man who created the seat reservation system for American Airlines, Max…
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