Those marrying at older ages should at least consider a prenuptial agreement, since both spouses may come into a marriage with significant assets, children, or both.
Usually when asked to be the executor of a family member’s estate, the person feels honored and trusted. It’s a big responsibility, since the executor will be carrying out a person’s final wishes.
As the baby boom generation gets older, families are trying to figure out how to keep their parents out of nursing homes — which became even less attractive when Covid-19 ravaged assisted living facilities — while dealing with their growing and expensive needs. They’re also about to become the center of a political fight in Washington.
A credit shelter trust is used to help married couples with significant assets pass their estates after their deaths to children or other beneficiaries without incurring estate taxes.
If you’ve had an IRA and a 401(k) for many years, you may occasionally ask yourself some questions: ‘Am I contributing enough?’ ‘Am I still funding these accounts with the right mix of investments for my goals and risk tolerance?
There is a general understanding that every adult should have a last will and testament. However, for most people, exactly how that will is used remains a mystery.
These red flags signal that your financial data or other personal information may have been breached.
Taking a dietary supplement or two (or five) every day isn’t exactly uncommon. About 70 percent of adults age 60 and older reported taking at least one supplement in the last month — be it a multivitamin or a chocolate-flavored calcium chew. About 30 percent took at least four, research shows.
Should we take Medicare or keep an employer health plan?
Sometimes people attempt to make an estate plan online without consulting legal and financial professionals to avoid the higher cost. However, everyone’s situation is unique, and using a boilerplate estate plan can lead to mistakes.
