Elder Financial Abuse on the Rise during Pandemic
The pandemic is isolating many elderly Americans—as family members distance themselves, in an effort to keep everyone safe.
What Is an Ethical Will?
My colleague’s father recently got infected with the coronavirus and had to be rushed to the hospital. The move was abrupt and hectic, and left no time for any deep conversation with his wife and family as he was being taken out to the ambulance.
What Do I Need to Do to Calculate and Correct an Excess IRA Contribution?
IRAs are a great way to save for retirement, but what happens if you contribute to a Roth IRA and your income is too high? Or you contribute more than you're allowed to a Roth or traditional IRA?
What are the Biggest Mistakes Women make with Social Security?
Women face unique challenges when planning for retirement and making these mistakes can result in a skimpier retirement.
What Should I Know about a Living Trust?
A living trust is an estate planning legal document that contains your instructions and authorization for what you want to happen to your assets, when you become disabled or pass away.
Do Seniors with Dementia Show Signs of Financial ‘Symptoms’ Years before a Diagnosis?
A new study led by researchers at the Johns Hopkins Bloomberg School of Public Health and the Federal Reserve Board of Governors found that Medicare beneficiaries who go on to be diagnosed with dementia are more likely to miss payments on bills, as early as six years before a clinical diagnosis.
Is Probate Required If There Is a Surviving Spouse?
A common misconception is that you do not have to probate a will when your spouse dies.
What Happens If You Fail to Submit a Change of Beneficiary Form?
The financial institution is obligated to distribute the CD to the person or entities that otherwise would be entitled to receive it.
Do You Know Your Job as Executor, Agent or Trustee?
Has a family member or close friend asked you to serve as their executor, trustee or power of attorney? If you accepted the responsibility, do you know what this entails? Have you been given a copy of the documents you were named under? Do you know when you would begin serving in these roles? These are all important questions to ask or consider.
Should a Husband and Wife have Separate Trusts?
In situations where both spouses want the surviving spouse to inherit all the assets, which is often the case, a joint trust can be far less complicated to set up and maintain than separate trusts, with less headaches for the surviving spouse.