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...]
Investment Planning for Retirement
The Stock Market, in 2011, has been very volatile. Soon to be retired families are expressing concern as to what their appropriate investment strategy should be in retirement. Thirty-year Retirement If you're retiring in your 60's, it is important to plan for as long as thirty years of being retired (hopefully you have this type of longevity in … [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...]
Borrowing Against Retirement Accounts
When Americans face financial stress they turn to their retirement accounts for liquid assets. Pensions, 401K plans and 403B plans are where Americans are turning to for quick infusions of cash. In this past year borrowing from retirement accounts hit new highs. It is estimated that more than 15% of all individuals who have money in retirement … [Read more...]
Baby Boomers Afraid to Retire
Baby boomers are afraid to retire. There are 77 million baby boomers who were born between the years 1946 and 1964. This large group of Americans are getting ready to retire,but do they have the resources to retire. Twenty five percent of the baby boomers claim they will never retire! A large majority of the baby boomers look at social security as … [Read more...]
