A power of attorney is a document that lets you appoint a person or an organization to handle the financial and medical decisions on your behalf, when you are not able to because of sickness or death. The person or the organization is called the attorney-in-fact or the agent. POA is given to someone whom you can trust with your life.
The elimination of the Stretch IRA is a game changer, especially for parents who were considering bequeathing savings in IRAs to their children.
Long-term care providers could soon have access to a newly developed tool that can accurately predict the life expectancy of dementia patients.
While most of us had stockings and menorahs on our minds, President Trump on Dec. 20 signed the Secure Act that makes the most significant changes in retirement accounts we’ve seen in years.
Sometimes, despite best intentions and best efforts, an estate plan leaves unintended problems for heirs, trustees and others to solve. For example, a trust may have become outdated because of changes in tax laws, the birth or death of family members, or special circumstances like an heir’s disability.
Many people have tens of thousands–even hundreds of thousands–of dollars in their IRAs. If you have an asset that large, shouldn’t you devote more effort to planning for its ultimate disposition?
Social Security provides a guaranteed source of income in retirement, but what many don’t realize is that you’re not guaranteed to keep it all.
Federal law, under the Equal Credit Opportunity Act, forbids discrimination in the mortgage market on the basis of age. Nonetheless, loan officers say older borrowers often don’t realize they can get loans with terms that will expire on their 110th, 120th or nearly 130th birthdays.
Geckos are amazing and resilient creatures. They can climb up vertical surfaces. Some geckos can fly. If you cut off a gecko’s tail, they’ll grow it back. These five tips for making an estate or trust administration go smoothly create the acronym ‘GECKO’. So, keeping the amazing lizard in mind, read on for some helpful advice on how to ease the process of estate or trust administration. [Read More]
Even if your asset base doesn’t measure up to the Bill Gates standard, you may consider using trusts in estate planning. This is because they can help your heirs in many different ways.
