| Read Time: 2 minutes | Elder Law

How Do I Establish A Conservatorship?

When 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...

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| Read Time: 2 minutes | Asset Protection

How To Budget For Retirement

After spending years working, bringing in income and saving for the future, you now must spend and manage that money. It’s a big change, and requires a thoughtful approach. US News & World Report’s recent article, “7 Myths About Finances in Retirement,” says that moving into this new phase of life, can create changes in your finances and lifestyle. For most of...

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| Read Time: 2 minutes | Estate Planning

How To Take Control Of A Trust

WTOP’s article, “7 questions to ask when taking control of a trust,” says that while having more wealth at your disposal may give you an increased sense of security, it’s also natural to have some fears about making a poor decision with new wealth. However, asking a few questions may give you the information that you need to be more confident. What...

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| Read Time: 2 minutes | Elder Law

Barbara Bush A Shining Example Of End-Of-Life Planning

For 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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| Read Time: 2 minutes | Estate Planning

Times Change And So Should Your Estate And Financial Plans

Your financial and estate plans can easily become out-of-date. Your situation may have changed, since the analysis and recommendations in your plan were made. It may be that some facts have changed, your health has deteriorated, or your vision for the future has changed. The Smyrna-Clayton Sun-Times reports in its article,“Change plan as plans change,” that most financial plans begin as a...

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| Read Time: 2 minutes | Estate Planning

Check Those Beneficiary Designations

Beneficiary designations have precedence over wills. Therefore, if you have accounts with assets to pass on to heirs, be sure to update them regularly. CNBC’s recent article, “Out-of-date beneficiary designations are a common and costly mistake,” says that naming beneficiaries can come with unexpected costs, like deeding money to an irresponsible minor. Many people still have ex-spouses or deceased relatives named as...

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| Read Time: 2 minutes | Financial Planning

If I Turn 70 In 2018, When Do I Need To Take An RMD From My IRA?

Kiplinger’s article, “When to Take Your First Required Minimum Distribution From an IRA,” explains that when you must take your Required Minimum Distribution (RMD), depends on whether your birthday falls before or after July 1. It also depends on whether you want to use your option to delay taking your first withdrawal. Generally, you must begin taking your RMD from a traditional...

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| Read Time: 2 minutes | Guardianship

Do Guardians For The Elderly Get Paid?

Did you know that a person who serves as a court-appointed guardian of both person and property, is eligible to be paid for their efforts? nj.com published an article recently that asks “Can a court-appointed guardian get paid?” The answer: yes. If you serve as a court-appointed guardian of the person and/or the property of an incapacitated person (also known as a...

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| Read Time: 2 minutes | Estate Planning

Financial Planning Crucial In “Gray Divorce”

Bloomberg’s recent article, “Rise of ‘Gray’ Divorce Forces Financial Reckoning After 50,” found that a majority of married women (56%) still leave major investing and financial planning decisions to their spouse, according to a report titled “Own Your Worth” by UBS Global Wealth Management. The study shows that it’s not just older women moving into the more traditional gender roles of their...

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| Read Time: 2 minutes | Asset Protection

New Tax Law Has Big Changes For 529 Accounts And ABLE Plans

Think Advisor’s recent article, “Investing in 529, ABLE Plans? Better Check Tax Law Changes,” says that the tax reform passed at the end of 2017 made important changes to educational 529 and 529 ABLE plans. The 2017 Tax Act expanded Section 529 plans, to include the use of up to $10,000 per year for elementary or secondary school expenses. The new law...

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