Choosing to remain in your home instead of living in a nursing home, can save you loads of money in the long-run. A host of in-home health care and companionship services are available to seniors who prefer to stay in their own home, rather than live in an assisted living or nursing home, surrounded by strangers. Staying in your house means you are surrounded by all your own possessions and feel a greater connection to the memories you and your family have made in your home. Many times it is … [Read more...] about Home Sweet Home
Deciding when you should collect Social Security isn’t always as clear cut as you might think. Quite the contrary, there are several factors that should come into play. For starters, you’ll need to have enough work credits to receive benefits and of course, be of a certain age to even apply. The “work credits” are earned throughout your life and represent the Social Security premiums you paid in while you were working. If you were born during or after 1929, you’ll need at least forty credits … [Read more...] about When is the Right Time to Collect Social Security?
Retirement planning is a necessary component of our lives and one that you focus on as early as possible. The sooner you start investing in a retirement plan, the more money you can accumulate before you reach retirement age. Here is a basic rundown of two common retirement plans, the 401(k) and the IRA. 401(k) 401(k) plans are typically started by a business for their employees. Employees who buy into the 401(k) plan enjoy several benefits. These plans allow for tax deferred growth as well as … [Read more...] about Retirement Planning for Your Future
While everyone knows the important of having a Will, about 70% of Americans still haven’t created one. But before you start drafting, you should know that different Wills do different things. A Simple Will for example, covers your basic necessities, such as provisions for your children and distribution of assets. There are templates available on the internet but because estate planning can get complex very quickly, it’s best to have a qualified estate planning attorney draft your Will for you. … [Read more...] about Understanding the Different Types of Wills
A Power of Attorney is a legal document that enables you to give someone you trust the authority to act on your behalf. This is most commonly seen in real estate negotiations, where one or both parties assign authority to their attorneys to negotiate on their behalf. But a Power of Attorney can also be a handy thing to have on a personal level too. A general Power of Attorney would allow your spouse to pay your bills for example, access your checking account and even discuss payment options … [Read more...] about What is a Durable Power of Attorney?
In the world of estate planning, there are a variety of documents you can use to protect your assets, provide for your loved ones and plan for unforeseen events. One of the most common of these documents is the Will, but not every type of Will is the same. For example, a Last Will and Testament is the traditional “Simple Will” that outlines how your assets should be distributed after you’re gone. This document can also be used to set up a trust after your death and it can designate who should … [Read more...] about What’s the Difference Between a Living Will and a Last Will and Testament?
No one wants to think about the possibility of becoming disabled. However, like death, disability can occur without warning at any time. You might want to consider having a plan in place in the event of an unexpected disability. A good estate planning attorney can help you create a plan that meets your needs, using a variety of incapacity planning documents. Create a Living Will A Living Will is designed to describe what sort of medical treatment you want prior to death. It is not used to … [Read more...] about Preparing Yourself for the Possibility of Disability
A lot of you may have heard of a "Power of Attorney", also known as "attorney-in-fact", but perhaps not all of you really know what it is exactly. There are two broad categories of powers of attorney: 1) Property Power of Attorney; and 2) Health Care Power of Attorney. We'll address the health care power of attorney in a future blog, one that deals with a few separate documents that deal with health care matters. What I want to talk about here is the property power of attorney. By … [Read more...] about What is a Power of Attorney?
New blog posts coming soon! … [Read more...] about Welcome to the Blog of Purcell & Amen, L.L.C.