There are a lot of variables when you reach retirement: Social Security checks may or may not be taxed, depending on your income. You’ll pay federal income taxes on most retirement plan withdrawals, but there may also be state taxes based on where you live. The tax rates on investments can also vary. The San Francisco Chronicle’s recent article, “Beware of hidden...
Continue ReadingA temporary restraining order has been issued against Stan Lee’s caregiver, because of allegations of elder abuse, as Sky News reports in the article, “Stan Lee’s caregiver handed restraining order over ‘elder abuse’.” A lawyer for Stan Lee, the creator of many of the most successful Marvel Comics, says his caregiver Keya Morgan “inserted himself into Mr. Lee’s life” following the death...
Continue ReadingWhat is a Living Will? How do You Create a Living Will? Drafting a living will now is a prudent move that gives you a say in how you want to be treated at the end of your life. The (St. George UT) Spectrum’s recent article, “How to Make a Living Will,” explains that to adequately detail your wishes concerning your end-of-life...
Continue ReadingThe sudden deaths of fashion designer Kate Spade and chef and storyteller Anthony Bourdain are sparking discussions about mental health. They’re also a stark reminder that a sudden death can affect any family. CNBC’s article, “Sudden deaths like those of Kate Spade and Anthony Bourdain can devastate family finances,”explains that a number of the leading causes of death in the US...
Continue ReadingIt 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 ReadingWhen a person dies, and after his or her family members have dealt with their initial emotions, the real work begins, according to Kiplinger in the article “5 Things to Do the Moment a Loved One Passes Away.” If you know you are named as executor of the will, take these steps to be sure that the named beneficiaries receive as much...
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 ReadingWhen you and your partner are at a certain point in your relationship, you need to get serious about your financial future. It’s best to work as a team. This is a great way to get on track more quickly and efficiently. Couples really benefit from a team mindset because it’s likely that when it comes to retirement, each...
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