U.S. Senator Amy Klobuchar (D-MN) reintroduced the Americans Giving Care to Elders (AGE) Act to provide financial relief to caregivers, by creating a tax credit for the costs of caring for an aging relative.
People tend to avoid estate planning like it’s the plague. However, no financial plan can be complete without one. Sure, thinking about your own demise doesn’t rate high on the ‘fun scale,’ but not everything in life does.
Rickety social safety nets, inadequate retirement savings plans and sky-high health-care costs are all conspiring to make the concept of leaving the workforce something to be more feared than desired.
John Singleton’s made a crucial error in his estate planning that could cause some major drama within his family in the days following his passing.
Scientists think there might be some measurable changes in the body well in advance of noticeable cognitive signs of Alzheimer’s disease.
You should have proper estate planning documents in place to protect yourself and your assets in the event of your incapacity, and so that you can control what happens to your assets after you die.
For some people with complicated personal and financial lives, today’s complexities may not be fully addressed with a do-it-yourself service for wills and trusts.
Professional athletes have much shorter careers than average workers, so they need to learn their money lessons fast. They also face the challenge of earning large sums of money at a young age. This is just one of many factors contributing to the staggering statistic, that 78% of NFL players either go bankrupt or are under financial stress within two years of retirement.
So many questions come up at a time like this, questions that you usually don’t have answers to: Who holds the mortgage? Is there a car payment due? Is there a will? And where?
No matter what line of work you are in, estate planning has facets that apply to everyone, and it comes down to documenting wishes and avoiding probate and unnecessary taxes. Too many people put it off, but, in general, the sooner you do it, the better.
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