My Comments: Our lives inevitably come to an end at some point. The question for all of us is what happens to the stuff we owned before the end arrived. It makes sense to help make sure those we leave behind aren’t further aggravated by spending time and money getting the stuff organized and properly …
Continue reading Estate Planning Checklist: A 7-Step Guide to Getting Your Affairs in Order
My Comments: I’ve been talking with folks about living trusts for years and am unhappy to tell you I’ve never put one in place for myself and my family. Shame on me, but I’m currently talking with an attorney friend. Unless you’re a homeless street person with no assets, this is an important issue for …
Continue reading 3 Benefits of Using a Living Trust to Pass an Inheritance to Your Family
My Comments: Not all of these are absolutely necessary, but to the extent you’ve not yet considered any of them, much less all of them, now is a good time to get your ducks in a row. Chances are if you’re reading this, you’re well on your way through life and no one has a …
My Comments: Last week I attended a luncheon where the formal program was a panel of professionals discussing trusts. The focus was on trustee responsibilities, the fact we’re living longer, trustees and/or beneficiaries are increasingly likely to become mentally challenged, children are having to wait longer and longer to receive their beneficial interest, and other …
Continue reading How to Choose Your Trustee or Executor of Your Will
My Comments: The older you get, the more you accept that the end happens to all of us. I encourage you to make a serious effort to make sure whatever you leave behind flows freely downstream to the right place or people. This summary will help you avoid serious mistakes made by others that result …
Continue reading 12 Assets To Avoid Leaving to Your Heirs When You Die
My Comments: First, 35 mistakes is more than anyone is likely to make. Second, despite by having been a professional financial planner for almost 50 years, I can tell you that despite my presumed skills, I made some serious mistakes along the way. Third, there’s a lot here to absorb, but I hope you make …
Continue reading 35 Retirement Planning Mistakes You’re Wasting Money On
My Comments: This post is for those of you trying to deal with matters that sooner or later will happen in your life that need thinking about. As a professional in financial services for many years, I can tell you tales about people who paid money to establish a living trust and then ignored the …
Continue reading Is a Living Trust Really the Best Way to Pass an Inheritance to Your Family?
My Comments: I’ve dealt with inherited IRA accounts many times over the years. However, every time I encounter another example, the rules have changed for the worse. Yes, the IRS is under pressure to generate more revenue for the country, and this is one way to make it happen. Right now, I have a family …
My Comments: This article is directed toward younger folks who have elderly family members. It's very relevant for those whose life span is getting shorter. If you have someone like that in your life, you can help them and yourself if you read this carefully. To me it’s difficult to appreciate that a majority of …
My Comments: This topic is very relevant for me. Statistically my wife will survive me by ten years. If life plays out that way, she may need help from Medicaid. If our home is in a family trust and I’m gone from the scene, it will be easier for our children as trustees to look …
Continue reading Does Putting Your Home in a Trust Protect It From Medicaid?
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