Job growth in the United States has been weak for a number of years. However, there is one group in the American population that has a higher level of employment than in previous decades. This group encompasses "older Americans." More than 7.2 million Americans over the age of 65 are now working. This is more than twice as many that were employed … [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...]
Guardian Allowed To Help His Ward Prepare A Will
Justice Alexander W. Hunter sitting in the Supreme Court, Bronx County recently had an unusual case presented to him. A daughter brought a proceeding in a guardianship. She requested the court take action to prevent a court appointed guardian from retaining an attorney to draft and execute a new Last Will and Testament for her father. She took … [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...]
Estate Planning Problems: Computer Codes
Computers codes are the new frontier concerning Estate Planning issues. Should a senior become disabled, uncommunicative or die, access to his or her online accounts are creating major estate planning problems. Without the password to an online account it is virtually impossible to get into the account. Yahoo and Google will only provide passwords … [Read more...]
Why You Need A Living Will
End of life issues are difficult to face. Everyone that lives will eventually die. If you want to make your own choices as to how you're cared for, should you become gravely ill, it is important that you have a Living Will. A Living Will is an advance directive that explains to your loved ones and your physicians what type of life prolonging … [Read more...]
Retirement Mistakes
Don't make mistakes regarding your retirement. Your senior years should be enjoyable, relaxed and stimulating. They should not be frustrating and worrisome times. Have Sufficient Assets and Cash Flow You should not retire unless you have enough savings, pension, funds or 401K funds to support your lifestyle. Social Security alone will not be … [Read more...]
Good Will Hunting
If you have assets, young children, and/or a house you should have a will. So you have a will. That's great! Have you updated your will within the last two decades? If your will is more than 10 years old, you should consider updating it. Changes In Your Life As you grow older, the reasons for writing a will may have changed. You initially … [Read more...]
Retirement: What if You Haven’t Saved any Money?
Retirement is supposed to be a time of relaxation and enjoyment for Americans. The current economic situation in the United States may require a re-thinking of retirement issues. A recent study has shown that one in four individuals approaching retirement have saved nothing for their retirement years! The Employee Benefit Research Institute … [Read more...]
Wills And Trusts Can Reduce Estate Taxes
Individuals with significant assets can reduce their tax liability upon their death by using sophisticated wills and trusts. In 2010, the wills, trust and estate area is facing a unique situation. For the 2010 calendar year there is no federal estate tax. After 2010, the federal estate tax exemption will go back to one million dollars. Well … [Read more...]
