Unfortunately, as the cost of higher education rises, the number of individuals with student load debt is increasing exponentially. As these debts increase, many individuals are forced to factor them in to their estate plan. According to the Consumer Finance Protection Bureau, between 2012 and 2017, the number of individuals, over the age of 60, […]
Guides to Managing Someone Else’s Money
At various times during my life I have had the responsibility of helping an aging relative pay their bills and handle their investments. I have been authorized to perform this financial caregiving either as a trustee or as an agent acting under a power of attorney. I can testify from personal experience that helping another […]
New “Adult Day Services” Facility
Caring for a loved one who has Alzheimer’s, another form of dementia, or a similar diagnosis is a taxing experience. Often, relieving a caregiver for just a short amount of time can make a huge difference in their physical and mental well-being. A new facility in Muncy, Liberty Manor, is providing Adult Day Services for […]
A Family Meeting as Part of Effective Estate Planning
Effective estate planning takes time and evolves over the various seasons of life. Often, a family meeting is one of the final steps in the estate planning process. There seems to be a trend among baby boomers to want to make sure there is transparency and understanding regarding their decisions so that when they pass […]
ELIMINATION OF “CLAIM NOW, CLAIM MORE LATER” SOCIAL SECURITY BENEFIT OPTION
An individual’s Social Security benefits are generally calculated using “average indexed monthly earnings.” This averaged amount summarizes up to thirty-five years of an individual’s indexed earnings. A formula is then applied to this averaged figure to determine the primary insurance amount (PIA), which is the basis for the benefits paid to an individual. The formula […]
Estate Planning for Snowbirds
It’s that time of year when thoughts of living in a warm climate appeal to those of us stuck in the frigid northeast. Those who are blessed with the opportunity to spend part of their year in Florida or another warm climate, may be interested in some of the estate planning issues that arise when you […]
What is a Will?
A Will is commonly defined as a document which disposes of a person’s property after their death. But it can be much more than that, or sometimes less. A Will is also known as a “Last Will and Testament”. It is helpful to think of a Will as being a document that gives your instructions […]