Irrevocable trusts are an invaluable estate planning resource. However, due to tax changes (fiscal cliff) and other issues, irrevocable trusts with an estate plan in mind, need to be changed related to subsequent modifications of estate tax laws. Can irrevocable trusts be amended? The answer to that is yes, in certain circumstances. New York … [Read more...]
Estate Planning
Who needs estate planning? Probably you do! Estate planning does not relate to an individual’s net worth. The purpose of an estate plan is to see to it that your financial goals and the financial goals of your family can be met even after you die. There are several elements of an estate plan. A will, a power or attorney, a living will and a … [Read more...]
Dispelling Retirement Myths
Retiring in comfort is getting more and more difficult. The costs of retirement are spiraling while the income of the average American has flattened out or is declining. There are many retirement myths that are simply untrue. Following is the discussion of some retirement issues that all potential retirees should be aware of. How much will be … [Read more...]
Baby Boomers Will Have Trouble Retiring
Baby Boomers are going to have difficulty retiring. Recent studies indicate that baby boomers will work four years more than earlier generations due to the economic problems they have faced in recent years. The years following retirement are referred to as the "golden years". There may not be much gold left for the baby boomers! Baby boomers are … [Read more...]
