Pew Research analysis reports 20% of population living in multigenerational homes. There are a record number of multigenerational homes in the U.S. and that trend is expected to keep rising, according to a Pew Research Center analysis reported in Financial Advisor Magazine...
Second marriage? You've entered a brave, new world, when it comes to estate planning. A second marriage can sometimes create a problem, because the biggest reason that stepparents and stepchildren fight is over money, according to the AARP in “Don't Split Heirs With Your Estate.”
Fees can drain your accounts, so watch them carefully. You have saved for many, many years and are now ready for retirement. You need to accomplish many tasks as you get ready to leave your job but one of the most important things to watch for as you go over your accounts is hidden fees, ac...
Social Security rules and regulations are the key to the magic retirement age. For some reason, many American have come to believe the magic number for retirement is 61 and they are wrong, according to The Motley Fool's article “Americans' Ideal Retirement Age–and Why It's Not Realistic.”
The concept still going strong after three decades. The economic answer for retirees living in expensive cities, such as Seattle, may be cohousing communities, according to the Seattle Times in “Battling rising cost of living? Seeking a community? A look at the cohousing lifestyle.”
The new law goes a long way in protecting the elderly from the increasing threat of scams. Elder financial abuse is very costly, at billions of dollars annually, as well as the emotional toll on the elderly, as the scams become more sophisticated, according to Forbes...
Expected lifespan should be taken into consideration in savings plan. Woman face a challenge in the U.S. This is because they have a longer lifespan than men but statistically make less money to be used for saving, according to The Motley Fool...
You may think your work is done when your estate plan is completed. However, a remaining step may be informing the kids about what they face. If you wish to pass your estate on to your children, it might be a good idea to spend some time educating them about the challenges and responsibilities...
A family may find a business model for meetings is a helpful guide if an elder member of the family requires caregiving. An elder member of the family sometimes needs caregiving. If it is a family project, it can be easier, according to aPlaceforMom.com...
The fear of huge medical bills causes worry to many a retiree. However, there is hope of solving the situation. Retirees generally fear that a medical expense shock will decimate their savings. However, there are ways to make the shock less stressful, according to Reuters...
Knowing the difference between a will and a trust is crucial, as well as how they will work for you as estate planning tools. Estate planning is unique to the particular circumstances of the individual or family. However, the two different tools that often come to the forefront are wills an...
There are ways to give away money that help people and create some tax breaks. If you've reached a point in life where you feel you have enough and want to give your money away, it would be wise to consider what your family thinks about sharing your resources, according to the AARP...
Your child is getting ready to leave the nest and head off to college. Now would be a good time to make sure proper legal documents are ready, before the student departs. There are several standard preparations required as your child gets ready to head off to college life.
The estate includes assets as well as frequent flyer miles … and where they will go. There is considerable interest in the estate of celebrity Anthony Bourdain and it is getting even more interesting, according to Forbes...
There are many keys to your income after retirement, including do you plan to travel? Or, what if your health care costs go up? If you are trying to decide between Roth IRAs and traditional retirement savings, the key is knowing if your retirement income is going to exceed your present incom...
There are many reasons to look at your old estate plan. What should not be forgotten is that everyone needs a will. There are many reasons to revisit your estate plan that don't include the new tax laws that doubled the individual estate gift and GST tax exemptions to about $11.2 million per...
Despite claims by his family, the second man to walk on the moon fights back. Buzz Aldrin, the 88-year-old astronaut, who was second to walk on the moon, has filed a lawsuit accusing two of his own children and his former manager of taking advantage of their roles in managing his assets...
There are many things to think about, when estate planning. However, among the most crucial is to take potential family conflicts into consideration. A group of professionals including estate planning attorneys, trust officers, accountants, charitable giving professionals, insurance advisor...
New study on expectations of wealthy young people is disturbing. A large percentage of affluent 18-22 year-olds are expecting that their retirements will be funded by the inheritances they expect to receive, according to a recent survey. This could mean they are spending all their own money ...
Companies offer retirement savings plans. However, the challenge can be in both saving and withdrawing. Most employers offer 401(k) plans to employees, as a means of encouraging savings for retirement. Some are generous enough to offer matches, although there are fewer of those today than i...
How do you get organized and create a plan that helps your family, when you pass away? A California woman has organized a program that brings people together in a social gathering to discuss and consider their own death at some point in the future, according to NPR Weekend Edition...
Your estate plan can run into difficulties if your assets are not handled correctly. Your will does not necessarily have the final say on all assets. It is important how particular assets are handled. This can make a difference because houses, cars, retirement accounts and bank accounts can ...
Assets may have been wasted in $100 million trust fund. When Elvis Presley passed away, his assets were left in trust for the benefit of his daughter, Lisa Marie Presley. She is claiming in a lawsuit that the trust fund is depleted and she blames her former money manager, according to the Daily Mail...
Massachusetts moves to make home ownership easier for elderly. However, the program can create a problem. To avoid the problem of its elderly residents keeping up with tax payments, Massachusetts created a program that lets seniors defer property taxes, until after they pass away. The taxes ...
An estate plan can protect a long-term partner. There are rarely provisions to protect people who are not married but are in long-term relationships. Many couples prefer to not get married. However, there still is a way to protect partners through an estate plan, according to the San Franci...
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