You've heard that advice to get up and walk around on the airplane? It's probably time to start heeding it. Your risk of deep vein thrombosis (DVT) — a dangerous condition in which blood clots form when they're not needed — increases exponentially with age. Deep vein thrombosis (DVT) clots freque...
Should the Royal family be an exception to the normal laws governing probate? There's a royal battle brewing over Prince Philip's will, but it's not what you might expect. The lawsuit isn't being brought by a creditor or even a potential beneficiary of the estate, A major United Kingdom newspaper...
Here are the top five mistakes people make that upend their planning. Forbes' recent article entitled “5 Ways People Mess Up Their Estate Plan” describes the most common mistakes people make that wreak havoc with their estate plans. Giving money to an individual during life, but not changing thei...
Uncle Sam is not the only one looking for a piece of your retirement income. Is your state on this list? Money Talks News' recent article entitled “These 13 States Tax Social Security Income” says the federal government can tax plenty of types of retirement income — including Social Security bene...
You created your revocable living trust to hold your assets. You did so because of the probate avoidance and other benefits. You may have included sophisticated tax-planning provisions in your trust. When a revocable living trust is created, the grantor (person who creates the trust) names a succ...
Estate planning is a key piece of a comprehensive retirement plan. The coronavirus has taken a toll on our finances, as well as our physical and mental health. As a result, it's important to plan appropriately for your health care and financial needs in an estate plan to provide much-needed peace...
Losing your spouse is a painful, confusing time, but add to that repeated calls from an aggressive debt collector and a bad situation suddenly can get even worse. After the loss of a spouse, before doing anything, take a sec to catch your breath and make sure you understand your rights and respon...
For some, retirement means ‘where will we play today's round of golf?' For others, it could mean, ‘do I pay for my meds or my rent?' In either case, a few concerns touch every retiree. The topic of long-term care is one of them, at least subconsciously. The question that causes more than a few sl...
If you're a caregiver for a loved one, you have a lot on your plate. However, one of the most difficult tasks — especially if they have any health conditions — may be figuring out how best to communicate with their medical team. Livestrong's recent article entitled “5 Tips for Handling a Loved On...
Trusts can provide certain benefits for estate planning, including asset protection. But can you sue a trust? If you have a trust, plan to create one or are the beneficiary of one, you'll want to understand whether or not it can be sued. It's not a simple yes/no, according to a recent article tit...
What if parents have wills and their contingent beneficiaries are their two adult children. If one of the adult children dies before the parents, who gets that contingent beneficiary's share? It's not that uncommon that a child dies before a parent. The question then arises about who gets that sh...
The new numbers mean that wealthy taxpayers can transfer more to their heirs tax free during life—or at death. A lot more. In 2022, the estate and gift tax exemption increases from $11.7 million in 2021 to $12.06 million per individual, according to new inflation-adjusted numbers from the IRS. Th...
A 2019 survey by Global Atlantic Financial Group, which sells annuities, asked more than 4,000 Americans, pre-retirees and retirees, about their retirement savings. Of those surveyed, 55% said they had regrets. The top three were that they: Did not save enough. Relied too much on Social Security....
What Is a Living Trust? Yahoo Finance's recent article entitled “What Is a Living Trust in Real Estate?” says that a living trust is a legal document that makes it easier for you to pass assets to your loved ones after you die. It allows property to be transferred directly to your designated bene...
If you have a parent over the age of, say, 65, thoughts about their future may have started to creep into your mind. However, because end-of-life planning can be emotional and overwhelming, it's tempting to put these conversations off—and even more pleasing to avoid them altogether. One of the le...
A durable power will remain in force if a court finds that you have become incompetent. An individual (the “principal”) can execute a power of attorney authorizing another person (known as an “agent”) to act on his or her behalf to handle finances, sign contracts on their behalf, buy and sell inv...
Since you began working, Social Security has recorded your reported earnings under your name and Social Security number. Social Security updates your record each time your employer (or you, if you're self-employed) report your earnings. Your earnings determine your benefit amount. It's not necess...
Even those who have saved and invested well may not be sharing their financial information with a spouse or loved one. It's time to do that now. A woman's brother is in a coma. No one in the family, even the man's wife, knows anything about his savings, investments, debts, or any financial matter...
As a legal adult after attaining the age of 18, your child should have in place several legal documents that will allow you to provide support and obtain information, if something unexpected happens to your child. The topic of estate planning is frequently overlooked in the craze to get kids to c...
If you're merely dipping your toe in cryptocurrency, it can be hard to imagine your crypto as something worth talking to an estate attorney about. But that $100 in fun money could grow to a significant percentage of your total investments, sometimes overnight. Cryptocurrency accounts are not like...
An online form or a DIY will kit may be a more cost-effective option. However, hiring a lawyer could save you money in the future. Only a third of Americans have estate planning documents, according to a 2021 study. However, the pandemic has caused many to start taking estate planning more seriou...
Doctors should no longer routinely start most people who are at high risk of heart disease on a daily regimen of low-dose aspirin, according to new draft guidelines by a U.S. panel of experts. The proposed recommendation concerning low-dose aspirin is based on evidence that the risk of serious si...
One of the biggest conundrums of estate planning is considering how, or even if, you can give money or property to your heirs in a manner that will help them. Research shows that getting a lot of money can have harmful consequences. According to MarketWatch, a study found that a third of people w...
The new, buzzy Netflix documentary on the late, beloved, iconic public broadcasting TV host, painter Bob Ross—“Bob Ross: Happy Accidents, Betrayal and Greed”—documents how the artist's son, Steve, now 55, was allegedly robbed of his late father's inheritance by the artist's business partners. New...
Power of attorney is one of the most important legal forms for estate and elder care planning. Along with wills and trust documents, it is a critical document for arranging one's affairs. A power of attorney can't change a properly written will. But note that an agent can make many changes to the...