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Deciding how to best care for elderly parents is never easy, particularly when they face difficulties in performing daily living activities for themselves. In an effort to resolve your responsibilities as well as meet your parents’ needs, you can unexpectedly end up facing various challenges, particularly if your loved one…
A study conducted by researchers at Cornell and the University of Toronto recently found that over 1 in 10 older adults in the state of New York is at risk of becoming the victims of elder abuse over the next decades. Poor health has been determined to be a major…
A variety of myths linger about estate planning. One of the most enduring of these myths is that estate planning is only for the wealthy. In reality, however, estate plans perform countless functions and all adults need them. Estate planning is not simply something that a person needs when they…
In May 2021, the Biden Administration announced its “Green Books” which includes a summary of the administration’s tax proposal. Even though this is just a proposal and not actual legislation, it’s critical to understand that the administration is focused on taxing high net worth individuals at a higher rate than…
If you’re planning on making the most of estate planning, you should focus on what your goals are as well as how you can best achieve them. Life insurance plays a critical role in the estate plans of many people. To make the most of life insurance, however, it’s a…
Much attention has been paid the last year to the conservatorship of Britney Spears. A judge this year recently denied a request to remove Spears’ father as her conservator. Consequently, some people expect that Brittney Spears will soon seek for the court to end her conservatorship entirely. Due to this…
TD Wealth recently released a survey of estate planning experts who report that health care costs are now the biggest threat to estate planning. While only 7% of estate planning experts reported this information in 2019, 22% of estate planning professionals cited health care costs as at the forefront of…
Estate planning is a fundamental aspect of any thought-out financial plan, but when it’s your loved ones who need to create a plan, it can be challenging to discuss this issue. One reason it’s difficult to discuss estate planning with a loved one is that this often involves confronting sensitive…
Many times when a widow remarries, unseen financial challenges in addition to a new marriage occur. Unfortunately, this means that many times what widows see as great matches quickly evaporate into economic despair. Fortunately, financial advisors and estate planning attorneys can help to avoid such undesirable results. Remarriage leaves…
Transfer on death accounts pass on assets to an appointed beneficiary when the account holder passes away. When you establish a “transfer on death” account, assets pass directly to beneficiaries at the time of the account owner’s death. While assignments of this kind can help to avoid probate, account titling…