You’re chugging along with your savings goals, but are you really doing everything right? See if you’re at risk for getting off track due to four all-too-common mistakes.
With all the media buzz about guardians stealing money from those whom they are meant to protect and overall financial abuse issues involving seniors, it’s a good moment to revisit how surrogate decision-making works.
A power of attorney names a person who can act on your behalf. This person is called your “agent” or “attorney-in-fact.” Before you create a power of attorney, you should know your options and which ones your home state allows.
Losing a loved one isn’t just an emotional burden — it also carries an administrative load. There are flower arrangements to pick, eulogies to write and a stream of paperwork to sort through.
“Don’t panic” has been a common refrain from government leaders, public health professionals, and across social media from well-meaning people trying to keep everyone calm during the coronavirus pandemic.
Failing to ensure that your asset titling and beneficiary designations are coordinated with your estate plan, can lead to unintended costs, taxes and outcomes.
Probate can be a long, arduous, and costly process—especially in states that aren’t considered probate-friendly. Enter a workaround that is being used by an increasing number of people: revocable living trusts.
Older drivers these days are keeping their licenses longer and logging more miles on their cars than in the past, according to the Insurance Institute for Highway Safety. Nevertheless, fatal crash rates do tend to increase considerably after age 70 and reach their peak among drivers 85 and older.
A suspicious email, a strange phone call from an unknown number, an overzealous financial adviser, a close family member: what’s the connection between all these people and things? It’s financial elder abuse.
Under the new law, not only must all of the tax on IRAs and plans benefits be paid much earlier than it was before, but the rate will likely be much higher too, since that income will be bundled into the recipients’ peak earning years.
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