Common Myths about Your Estate When You Die
March 3, 2020
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Regardless of whether the law makes sense to us, we are all required to abide by it.
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Planning Retirement with a Cognitive Decline
February 28, 2020
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When a loved one is experiencing cognitive decline, emotional and medical considerations often overshadow the financial planning that needs to happen. This is a potentially costly mistake.
Alternatives to Stretch IRA Strategies
February 27, 2020
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The elimination of the Stretch IRA is a game changer, especially for parents who were considering bequeathing savings in IRAs to their children.
Financial Infidelity that Appears after One Spouse Dies
February 26, 2020
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The expression recognizes the blindness that many of us have in relationships to the spending habits of partners and the effect it has on our own finances.
Should I Buy Mortgage Protection Life Insurance?
February 25, 2020
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After closing on a mortgage, many individuals immediately begin receiving daily solicitations in the mail, urging them to purchase mortgage protection life insurance (MPI). Simply put, MPI is a type of life insurance sold by banks affiliated with lenders, and by independent insurance companies, who obtain information about a person’s mortgage through public records.
Avoiding Probate with a Trust
February 24, 2020
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In other words, family members who are not named to inherit anything in the will may still see the list of all of the assets. If you don’t want that result, you can avoid it by establishing a trust.
Should I Purchase Long-Term Care Insurance?
February 22, 2020
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If you’re fortunate, you’ll live independently and in good health throughout your retirement years. However, if you ever needed some type of long-term care, such as a stay in a nursing home, would you be financially prepared?
Estate Planning for Unmarried Couples
February 21, 2020
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The number of unmarried couples who live together reached 18 million in 2016, a 29% jump from 14 million in 2007. Among adults age 50 and older, the increase was 75%: About four million were cohabiting in 2016, up from 2.3 million in 2007.
What Should I Know about Beneficiary Designations?
February 20, 2020
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Many people have tens of thousands–even hundreds of thousands–of dollars in their IRAs. If you have an asset that large, shouldn’t you devote more effort to planning for its ultimate disposition?
Will Caregivers Honor a Dementia Patient’s Advanced Directive?
February 19, 2020
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When she worked on the trading floor of the Chicago Board Options Exchange, long before cellphone calculators, Susan Saran could perform complex math problems in her head. Years later, as one of its top regulators, she was in charge of investigating insider trading deals. Today, she struggles to remember multiplication tables.
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