Many of our small business owner clients enjoy having their children or other family members work with them in the business, and their “exit plan” relies heavily on transferring responsibility for running the business to those family members. Frequently, however, these plans are made with the best of intentions but not properly documented and memorialized, […]
Adult children with elderly parents often report to our firm that their concerns about their parents significantly increased following an accident at home. After a trip to the emergency room and sometimes also a short-term rehabilitation center, children observe a decline in their loved one that requires changes going forward. Taking a closer look at […]
Time is running out to use a potentially very lucrative Social Security benefits-claiming strategy. Spouses will no longer be able to use the “file and suspend” strategy after April 29, 2016. Beware, however, that the new rules are causing confusion at some Social Security offices. The federal budget agreement that was signed in fall 2015 […]
April 15th is approaching and it is time to begin crossing T’s and dotting I’s in preparation for paying taxes. As tax time draws near, you want to make sure you file all the proper forms and take all deductions you’re entitled to. Following are some things to keep in mind as you prepare your […]
Planning for retirement and deciding whether to buy long-term care insurance would be a lot easier if you knew your odds of needing long-term care, as well as at what age and for how long. Unfortunately, there’s no definite answer. On the other hand, some statistics do provide a bit of guidance. The Numbers In […]
Because of the difference in the legal obligations and duties between being a conservator and a health An important aspect of the estate planning work we do for clients is to take steps to manage potential health-related issues. We do that in part by making sure that our clients’ plans include the right type of […]
For those who travel often, airline frequent flyer programs can be quite valuable. Accumulated miles from time spent in the air can be prudently utilized by consumers for deeply discounted or free flights. That can be quite beneficial. But have you ever considered what happens to those accumulated frequent flyer miles if the consumer dies […]
Millions of Americans rely on Social Security for some or all of their retirement income, and millions more are paying into the system in the expectation that it will be there for them when they retire. What changes should be made to the current Social Security system, if any, to keep it solvent and ensure […]
Medicare beneficiaries may now discuss options for care at the end of life with their health care providers. Beneficiaries of course were already free to talk about advance care planning with their doctors or other qualified health professionals, but the practitioners could be reimbursed for such discussions only during a patient’s “Welcome to Medicare” visit, […]
As long-term care insurance premiums keep rising and fewer companies are offering policies, seniors are looking for other ways to help pay for long-term care. Annuity “nursing home doublers” have emerged as a new long-term care option. These doublers can be beneficial, but as with any annuity product, customers should use caution before purchasing. An […]