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In the last post we discussed the first five of ten essential documents that should be considered when estate planning. Those included a basic will, beneficiary forms, a financial power of attorney, medical power of attorney, and a living will. Here are the last five documents that should be included…
Most people do not like to talk about estate planning. Some do not want to think about the idea of death, others do not want to discuss financial or personal matters, and more simply procrastinate. However, once you do make the decision to set up your estate plan the options…
The loss of a parent is a heartbreaking experience, and discovering that your parent had a large amount of debt can add even more stress to the situation. Usually, creditors have a certain period of time in which to make claims against your parent’s estate. In most cases, you are…
In a unanimous decision the Supreme Court has ruled that an IRA is not protected from creditors in bankruptcy proceedings when it is inherited in an estate. In the case of Clark v. Rameker, Heidi Heffron-Clark inherited an IRA from her mother in 2001. The account contained roughly $450,000 and…
According to some estimates, the Baby Boomer generation will leave over $30 billion to their children in their wills over the next thirty to forty years. When leaving an inheritance for minor or adult children sometimes personal, professional, or financial issues can flare up and complicate the process. If you…
The usual story regarding issues with prepaid funerals is similar to this – one person purchases a prepaid funeral plan and does not inform her family. Years later, she passes away and the documentation for the prepaid funeral plan is nowhere to be found nor does anyone know that it…
The World Health Organization estimates that by 2050, the number of people who live past their 80th birthday will be roughly 395 million, more than quadruple the current number. Additionally, the Alzheimer’s Society has found that over 80% of residents in nursing homes and assisted living care now have dementia…
In a ruling Monday, Judge Daniel S. Murphy ordered that renowned radio personality Casey Kasem must be fed, hydrated, and medicated at the discretion of his doctors. This order is the latest in a string of court battles between Kasem’s wife and children about his medical care. Casey Kasem suffers…
Finding happiness with someone else at any age is a wonderful thing that we all strive for. However, combining family and finances later in life can be more complicated than getting married in your 20s or 30s. In addition to separate finances a lot of people who marry later in…
Choosing to move into a continuing care retirement facility (CCRF) is one of the biggest decisions you can make in your later years. A lot of factors go into getting financial matters in place and ensuring that a particular facility is right for you. However, there are some resources and…