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Thursday, January 23, 2020

Caregivers Are Getting Younger, Making Planning for Long-Term Care Even More Important


As baby boomers age, more and more millennials are becoming caregivers. Many are taking on this role while just getting started in their own lives, leading to difficult decisions about priorities. Proper planning can help them navigate this terrain. 

The term “sandwich generation” was coined to refer to baby boomers who were taking care of their parents while also having young children of their own. Now millennials are moving into the sandwich generation at a younger age than their parents did.


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Tuesday, January 21, 2020

When Should I Review My Estate Plan?


You took one of the most important steps you can take to protect yourself and your loved ones by creating a proper estate plan.   Proper estate planning not only puts you in charge of your finances, it can also spare your loved ones of the expenses, delays and frustration associated with managing your affairs when you pass away or become disabled.   The next step is knowing when to have your estate plan reviewed.

A great time to review your estate plan is if you have experienced any major changes in your family situation, health or finances.  The addition of new family members is a time to rejoice and celebrate, but is also a good time to review your estate plan to assure that the newest members are properly accounted for in your estate.
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Thursday, January 2, 2020

New Law Makes Big Changes to Retirement Plans


President Trump has signed a spending bill that makes major changes to retirement plans. The new law is designed to provide more incentives to save for retirement, but it may require workers to rethink some of their planning. 

The Setting Every Community Up for Retirement Enhancement (SECURE) Act changes the law surrounding retirement plans in several ways:

  • Stretch IRAS. The biggest change eliminates “stretch” IRAs. Under current law, if you name anyone other than a spouse as the beneficiary of your IRA, the beneficiary can choose to take distributions over his or her lifetime and to pass what is left onto future generations (called the "stretch" option).
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Wednesday, December 25, 2019

Happy holidays - take things as they come


My family's holiday season is not going as planned.  About two weeks ago, my dad had to go into the hospital, and what we hoped would be a quick stay dragged into a much longer one.  The weeks that my parents would typically spend putting up a Christmas tree, stringing lights on the evergreens in the front yard, and preparing for the holiday onslaught of visiting grandchildren were spent instead waiting for test results, consulting with doctors, and walking the hospital halls. 

Thankfully, the hospital released my dad the day before Christmas Eve, and our family has gathered as planned at my parents' home.  The tree was decorated by a committee of grandchildren who don't quite have my mom's eye for ornament placement.


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Wednesday, December 11, 2019

The Most Important Estate Planning Documents


Making sure you have the right estate planning documents is one of the simplest ways to have a positive impact on your family's future. Proper planning ensures that your wishes will be followed and that your family will have less to worry about after you are gone. 

Estate planning does not need to be difficult; a few documents can make a big difference. Here are the five legal documents, in order of priority, that everyone should have in place:

  • Durable Power of Attorney. This appoints one or more people to act for you on financial and legal matters in the event of your incapacity.

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Thursday, December 5, 2019

Five Tips for Starting Retirement Planning in your 50s


When it comes to retirement planning, many Americans find themselves underprepared. A majority of baby boomers (born between 1946 and 1964) and Generation X’ers (born between 1965 and 1978) often end up without retirement savings or don’t have realistic expectations about post-retirement costs. According to the Insured Retirement Institute, only 25 percent of boomers are confident of having sufficient savings in retirement.
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Wednesday, November 27, 2019

Medicare Premiums to Increase by Almost $10 a Month in 2020


After small or no increases the past couple of years, Medicare’s Part B premium will rise sharply in 2020. The basic monthly premium will increase $9.10, from $135.50 a month to $144.60.
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Wednesday, November 20, 2019

Five Estate Planning Myths


There are lots of misconceptions about estate planning, and any one of them can result in costly mistakes. Understanding who needs an estate plan and what it should cover is key to creating a plan that is right for you. 

A properly crafted estate plan allows you, while you are still living, to ensure that your property will go to the people you want, in the way you want, and when you want. It permits you to save as much as possible on taxes, court costs and attorneys' fees; and it affords the comfort that your loved ones can mourn your loss without being simultaneously burdened with unnecessary red tape and financial confusion.

The following are some common myths that people have about estate planning:


Wednesday, October 30, 2019

Halloween Activities For All Ages including Seniors!


Halloween Activities & Treats for Seniors & Their Families

Halloween isn’t just for kids. It’s a great excuse for seniors to dress up, do some spooky crafts, and, of course, eat goodies. Preparing easy-to-make Halloween goodies is a great way for families to spend time with loved ones of all ages, and provide activities for seniors during a holiday we usually think of as child’s play.  So forget the tricks and head straight for the treats and have a fun time with your loved ones this Halloween! 

Here are some activities your senior loved ones can enjoy:

1.         Movie night:  What’s Halloween without a spooky movie? Here are some of our favorites that are fun for all ages:


Wednesday, October 9, 2019

Estate Planning for Blended Families


Ideally, when a second marriage joins two families together, it should be a joyous occasion that creates one bigger family unit. Unfortunately, it too often also creates inheritance fights between stepparents and children. A good estate plan is necessary to help avoid these types of family squabbles.

Complications can arise when two people who both have children from previous relationships marry. Married people typically leave everything to their spouse, so children from the previous relationship may now see their inheritance go to their stepparent, who may in turn leave it to his or her own children.
Read more . . .


Wednesday, October 2, 2019

Caregiver, Take Care of Yourself


Caregiving is hard.  Whether you are helping your spouse through a long-term illness or a child coming to terms with the fact that your mom and dad are aging, you are probably dealing with the mental, emotional, and physical side effects of caring for another person.

Often when we meet with caregivers, we are focused on finances and care arrangements and all the practical tasks involved in qualifying for Medicaid or making a move to a nursing home.  While our end goal is to provide peace of mind for families dealing with difficult transitions, the process is often full of to-do lists and deadlines.  We remind our caregiving clients, though, that it’s important to take care of yourself.
Read more . . .


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