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 client 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 […]
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 […]
RECENT CHANGES TO ABLE ACCOUNTS FOR THE DISABLED
By: Margaret M. Stockdale, Attorney at Law In 2014, the Federal Government enacted a law authorizing states to create “Achieving a Better Life Experience” [ABLE] tax free savings account programs. ABLE accounts give individuals with qualified disabilities (Eligible Individuals), and their families and friends, an opportunity to accumulate tax free savings without losing their eligibility […]
Being Mortal
One major benefit of being semi-retired is that I have more time to “read” audio books each day while I walk and exercise. This is given me the opportunity to catch up on books I have long wanted to read (e.g. Steinbeck’s East of Eden) as well as more current titles. I recently read a […]
What to do When Dad should no longer be driving
Do you remember when you first got a driver’s license? For me it was over 50 years ago, but I remember it vividly. It was both scary and exhilarating: the adulthood it implied, the freedom it offered, the awesome responsibility. Wow, that was a memorable moment of my life. Now that I am at the […]