It used to be that the final days of a person’s financial life, were when they reached their 60s or 70s. However, today, that’s just the start. A generation ago, it would have been unthinkable to have a 90-year-old person still making decisions and still managing the family’s wealth. Baron’s recent article, “Planning Ahead for Longer Lifespans,” says that people are just...
Continue ReadingAccording to a 2016 study by Oregon State University and Portland State University, the average age of farmers and ranchers is now 60. An estimated 10 million acres of farmland will change ownership over the next 20 years, making farm succession and estate planning that much more critical. The Salem, Oregon Capital Press asks in its article, “Mental competence a key factor...
Continue ReadingPoor estate documents can result in people unintentionally cutting loved ones out of inheritances, paying monstrous tax bills, and unnecessarily burdening loved ones with expensive, confusing legal battles. With the help of an experienced Texas estate planning attorney, estate planning mistakes are completely avoidable. Kiplinger’s “10 Surprisingly Common Estate Planning Mistakes” gives us some no-no’s. Some you can probably...
Continue ReadingAccording to AARP, 65.5% of Georgia’s citizens will be part of the state’s aging population by 2030. As a result, people are looking at ways to improve long-term care and to prevent elder abuse. Georgia Governor Nathan Deal signed two bills in May to help protect senior citizens from abuse, neglect, and exploitation. The Albany Herald’s recent article, “Legislation should help...
Continue ReadingThere’s no magic formula for a prosperous retirement. However, following a few simple rules might help: save what you can, don’t spend more than your income, steer clear of debt, invest well and if you are lucky enough, have a job with a guaranteed pension or an employer match to your retirement accounts. Some people would rather retire later...
Continue ReadingKerri Kasem, the daughter of late Top 40 DJ Casey Kasem, recently visited the Waynesboro, VA area to speak on elder abuse. She spoke at the Seventh Annual Training of the Greater Augusta Coalition Against Adult Abuse. The News Virginian reported in its story, “Kasem speaks against elder abuse,” that Kasem presented: “Isolated: How Casey Kasem’s Family fought, changed the law, and...
Continue ReadingFinancial Advisor’s recent article, “Annuities Can Help or Harm Medicaid Eligibility,” explains that Medicaid rules include both asset limitations and income limitations. Annuities can be exceptionally beneficial for a retirement income plan, such as for an older individual facing long-term care costs. However, the annuity will be viewed as a resource available for payment, which will make the applicant ineligible for Medicaid....
Continue ReadingJust 40% of Americans 60 years old and older have documents in place to plan for their finances and health care, if something were to happen to them. CNBC’s recent article, “These costly estate planning mistakes can be fixed,” says that, when it comes to planning for your estate, the odds are you haven’t made all the provisions you should. A new...
Continue ReadingWhen someone can no longer care for himself, or their estate is in disarray, a conservatorship is granted by a court to a caregiver or to a guardian. This is a pretty drastic action, but it’s usually necessary when nothing was arranged in advance, such as a trust, powers of attorney, or healthcare directives. The San Diego Union-Tribune’s recent article...
Continue ReadingFor many of us, losing Mrs. Bush was like losing a family member–regardless of our political party, says Forbes in its recent article, “Barbara Bush And Betty Ford – How Two First Ladies Mastered Unique Aspects Of End Of Life Planning.” The grace with which she handled the final days of her life, is something to consider in estate planning. She dictated...
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