Tips 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…
Read MoreHalloween’s Long Gone—Make Sure You Don’t Have Any Skeletons in Your Financial Closet
While the headline is all in fun, hidden “skeletons” in your financial closet could seriously impact your financial well being, including threatening your retirement. No matter what your income level is, anyone can be knocked out of their fiscal security, reports a recent article in The Kansas City Star, “Financial skeletons to clean out of…
Read MoreSmall Hometown is Big Beneficiary of Quiet Community Member
The memory of John Criss, who loved his hometown, serves as a shining example of how a legacy is created through a properly executed will and the spirit of philanthropy. John Criss lived with his parents, owned a small business and spent his entire life in the small Iowa town of Sac City. When he…
Read MoreSocial Security Payments Will Increase in 2018, But So Will Medicare Premiums
It’s not great news for retirees who depend upon Social Security, even if it is the biggest increase since 2012. If you want a high-quality lifestyle during retirement, don’t count on Social Security or Medicare. First, the good news from AARP’s article, “Social Security Payments to Increase 2 Percent Next Year:” Social Security benefits will…
Read MoreIncreasing Bitcoin Prices Driving Digital Currency Holders to Estate Planning
Traditionally, clients start on their estate plan before the birth of a child or a new marriage. Rising prices in cryptocurrencies, like Bitcoin, are introducing a new generation to estate planning. As even small holdings have grown in value, it is increasingly important for digital currency owners to have an estate plan. There are complexities…
Read MoreIs an Annuity Right For You?
Annuities are a mixed bag. For some, they are a useful tool, but they aren’t for everyone. Be certain that your advisor is making recommendations based on your specific needs, and not a product line. The differences between annuities are very broad, and you’ll want one that is correct for you. Annuity sales are on…
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