One thing that really hits home when you reach the latter stages of your life and recognize just how final your absence is going to be is the fact you are simply not going to be there when your family needs you. Most people develop a deeply ingrained sense of responsibility that is harder to let go of than anything else, and when you feel this it definitely sheds new light on the importance of intelligent estate planning and its potential for providing long-term financial support. When you … [Read more...] about Asset Protection Through Lifetime Trusts
45 Lessons Life Taught Me
We received this email written by a 90 year old. This is something we should all read at least once a week! Make sure you read to the end!Column was written by Regina Brett, 90 years old of Plain Dealer, Cleveland, Ohio. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ "To celebrate growing older, I once wrote the 45 lessons life taught me. It is the most requested column I've ever written. My odometer rolled over to 90 in August, so here is the column once more: 1. Life isn't … [Read more...] about 45 Lessons Life Taught Me
Estate Planning Is Essential For Gay Couples
Making sure you have at least a basic estate plan in place is one of the foundational responsibilities of adulthood. Even if you do not have considerable assets to pass along to your loved ones, you do need to consider the possibility of incapacity. Accidents happen every day, and serious illnesses can strike young people unexpectedly as we saw with the highly publicized case of Terri Schiavo that got a lot of attention some years ago. The time and effort spent executing an estate plan with an … [Read more...] about Estate Planning Is Essential For Gay Couples
Consider Adding Your Memoirs To Your Estate
Providing financial resources for your loved ones after you pass away is certainly going to be a priority when you are reaching your twilight years, and indeed this is a large part of what estate planning is all about. However, though most people are at peace with their own mortality when they reach an advanced one of the things that is very difficult to accept is the fact that you will no longer be there for your loved ones when they need you. Yes, you can provide financially, but the wisdom … [Read more...] about Consider Adding Your Memoirs To Your Estate
What Is A Spendthrift Trust?
One of the things about planning your estate that is profound on a personal level is the realization that a time will come when your loved ones will never again have a chance to come to you for assistance. So, your legacy is going to have to provide for them in times of need. Part of effective inheritance planning is to identify the needs and the proclivities of those will be receiving bequests from you so that you can transfer assets to your loved ones in an optimal manner. People that you … [Read more...] about What Is A Spendthrift Trust?
Beware Of Bad Inheritance Planning Advice
As you go through your day-to-day activities you will generally find that there is no shortage of people who are willing to give you advice. There are those who simply cannot resist the chance to take the floor, but many times these individuals have little to no useful information to share. This propensity multiplied a number of times leads to the circulation of a lot of bad information, and you really can't afford bad advice when you're planning your estate. In most cases it's not that people … [Read more...] about Beware Of Bad Inheritance Planning Advice
Inheritance Planning: Long Term Assistance
There are some of us who have the financial means to leave behind inheritances that will be more than sufficient to provide for the financial needs of our loved ones throughout their lives and perhaps do the same for succeeding generations. However, the reality is that most people are not in this situation though they do care a great deal about the long term success of their family members. And even if you are in a position to make succeeding generations wealthy it is very likely that you would … [Read more...] about Inheritance Planning: Long Term Assistance
What Is A Springing Durable Power Of Attorney?
Making plans for the distribution of your assets to your loved ones after you pass away is the issue that is at the core of estate planning. But to be frank people don't generally die all of a sudden without going through a period of decline and some sort of illness. More and more people are living into their late 80s and beyond, so the stark reality of the matter is that there may well come a time when you cannot make sound decisions for yourself. For this reason it is important to make sure … [Read more...] about What Is A Springing Durable Power Of Attorney?
Avoiding Probate With POD Accounts
There are a number of different approaches to estate planning, and though some proceed with a will that will have to pass through probate many people decide that they would like to construct their plan with probate avoidance in mind. Probate is the legal process of estate administration that takes place under the auspices of the probate or surrogate court. Probate proceedings are a matter of public record and if anyone wanted to challenge your wishes or bring claims against the estate they would … [Read more...] about Avoiding Probate With POD Accounts
Social Security, Medicare, Medicaid, & Budget Cuts
Retirement planning involves looking ahead and making projections based on the information that is available you in the present. Of course this is an ongoing process and as new information becomes available adjustments are inevitably going to be necessary. There are a lot of things that are out of our control, and the financial meltdown that took place in 2008 certainly demonstrated to all of us that changes can come down the pike in a hurry. But it would seem on the surface as though one thing … [Read more...] about Social Security, Medicare, Medicaid, & Budget Cuts
