Many people think that estate plans are for someone else, not them. They may rationalize that they are too young or don’t have enough money to reap the tax benefits of a plan. But as the following list makes clear, estate planning is for everyone, regardless of age or net worth. Loss of capacity. What if you become incompetent and unable to …
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Aging
I am so blessed to have my high school buddies still my closest friends (golf buddies) over 40 years later. We have gone from young athletes to college students to husbands to fathers and now grandfathers. Our hair has gotten shorter and our stomachs larger. Despite aging, we all achieve and embrace aging rather than deny it. I have noticed …
Do You Put On Your Happy Face?
We’ve all had it happen. It’s been a bad day, the kids are screaming, the dog gets out and terrorizes the neighborhood, the washing machine overflows, all heck is breaking loose and the phone rings…And it’s your friend on the other end, asking “How’s it going?” You put on your happy face, smile and say… “Just fine” Alzheimer’s caregivers are …
The Caregiver & Stress
As baby boomers age, more of them are providing care for their elderly loved ones. This can range anywhere from simply checking in on a loved one to make sure they are OK; to planning meals and managing their medications; to assisting them with daily activities, such as bathing and dressing. The people who provide this care do so out of love, …
Gifting – Gift Tax Law vs. Medicaid Law
Are you being told by a friend, accountant, or financial planner that you can give away $17,000 per year to your children and do not have to worry if you need nursing home care? Depending upon your age and health, this could be very dangerous. Financial planning doesn’t always take into consideration long-term care planning. Many …
