Estate Planning

Reduce Your Health Care Costs: 6 Great Tips!

  Key Points   Medical costs typically go up as you age and can account for a large portion of your overall expenses in retirement. There are many health-care related expenses that are not covered by Medicare or Medicaid. Your health and wealth can be closely tied – especially when it comes to planning for retirement. The actions you take...Read More

9 Common Misconceptions about IRAs

IRAs are complicated retirement vehicles, so it’s not surprising that people get tripped up by them. Blame IRS rules for all the confusion. Some misconceptions are innocuous, while others can lead to serious tax blunders. Don’t feel bad; even financial advisers get tripped up by the intricate rules of IRAs. Figuring out how the accounts...Read More

IRA Beneficiary Errors That Can Hurt Your Loved Ones

Leaving IRA to “estate” will cost your heirs “George” — name changed to protect the guilty — was in a big hurry when he filled out his IRA beneficiary form, so he wrote ‘estate’ instead of his children’s names and Social Security numbers,” recalls David Born, chartered financial analyst an...Read More

Bowie: Life Well Lived – Death Well Planned

This has been a tough time for baby boomers and rock ‘n’ roll fans, punctuated by the deaths of David Bowie, Eagles’ co-founder Glenn Frey, Dan Haggerty of Grizzly Adams fame, Mott the Hoople’s drummer Dale Griffin, and singer Celine Dion’s husband and brother. Dr. Mark Taubert, a palliative care physician in Cardiff, United...Read More

2 Critical Questions to Ask Senior Parents

You may think that sticky conversations and awkward questions between you and your parents are a thing of the past. Get ready for a little role reversal. As your parents age, you’re more likely to be the one asking uncomfortable questions. Although some parents are transparent with their adult children and provide them with a complete plan fo...Read More

The Unexpected Caregiver

We’d always thought that my dad would be the first to go. Like many dads of the era, his diet was far from healthy, fitness wasn’t a priority, and alcohol and cigarettes played too big a role in his life. I loved the man dearly but he was a high-speed freight train headed toward a brick wall. By the time he was in his early 60’s, he had heart disea...Read More

5 Critical Questions Before Leaving An Inheritance

What to ask before leaving an inheritance Although leaving your wealth to the next generation sounds like a worthy goal, many Americans struggle with how much to leave and how to do it. In a recent survey of high net worth parents, 91% of respondents said they plan to leave most of their wealth to family members, while 46% are concerned about givin...Read More

Reverse Mortgage and Your Adult Children

You’re thinking about getting a reverse mortgage. Should you discuss your plan with your adult children? Maybe. Every senior homeowner’s situation is unique. “I wish I could give you one best practice that’s optimal for every family, but it’s more complex than that,” says Joseph Goetz, an associate professor for ...Read More

Talking About Unpleasant Things

My husband does not like to talk about unpleasant things.  In particular he shies away from talking about things like the future and end-of-life issues.  Of course, the last eight years of his life have been sort of one long conversation about life-ending issues for us.  He is now going into his ninth year as a kidney transplant survivor.  The kidn...Read More

Alzheimer’s Diagnosis and Financial Plannning

PLANNING AFTER DEMENTIA DIAGNOSIS   Alzheimer’s and other forms of dementia are degenerative and fatal diseases that steal a lifetime of memories and experiences. When a loved one receives an Alzheimer’s diagnosis, financial planning may not be top of mind — but it should be. As the disease progresses, financial acumen is generall...Read More

When Aging Parents Lack Health Insurance

A hospital waiting room is a lousy place to discover that Mom and Dad are broke. Unfortunately, a parent's health crisis often provides the first warning sign that the folks have made a major financial blunder by dropping or downgrading their Medicare supplement health insurance to save money. “In a lot of cases, this comes up ...Read More

9 Key Estate-Planning Tools

You're ready to tackle estate planning, but you're not sure what “equipment” you need. Flounder no more. Here are nine essential estate-planning tools, along with details about what they do and why you need them.   1. Will A will is a written document in which you identify what you'd like done with your assets upon y...Read More

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