Most grandparents act as caregivers for their grandchildren to one degree or another. For some, it may be watching the little ones while mom and dad enjoy a much-needed evening out, while for others caring for grandchildren may be a long-term arrangement. According to data collected in the 2010 census, 4.9 million children under age eighteen live in grandparent-headed households. Most of these children live in multi-generational homes, including their grandparents plus at least one parent. … [Read more...] about Parenting Your Grandchildren? You Need a Solid Estate Plan
What to Expect When You’re Inheriting
At some point in our lives, we all dream of receiving an inheritance. We envision buying a new car, finally being able to afford private schools for the kids, or maybe even taking a trip around the world. But the reality of inheriting money or property often differs from our dreams. For one thing, an inheritance often comes with mixed emotions. After all, the money you’ve received comes as a result of someone’s death. Often, the person who has passed away is someone who was very close to you. … [Read more...] about What to Expect When You’re Inheriting
Helping Your Parents Through Their Twilight Years
Your parents were watching over you, smiling and encouraging, as you took your first tentative steps. As a teenager, they handed you the keys as you took the car out on your own for the first time. They were there with guidance and advice, sometimes requested and sometimes not, as you left childhood and navigated young adulthood. Now that your parents are entering their twilight years, they are the ones taking the unsteady steps, and you wonder if it might be time to suggest gently that they … [Read more...] about Helping Your Parents Through Their Twilight Years
One Big Happy Family: How to Avoid an Estate Dispute
Picture this: at the end of your long, fulfilling life, surrounded by your extended, loving family, you say goodbye and peacefully leave this world. And then... your family declares war on each other. Suddenly, family members are unhappy with the contents of your estate plan, and old rifts between loved ones reopen, possibly never to heal. Where do the disagreements end? In litigation, where your estate is dissipated and everyone walks away unhappy. Unfortunately, this scenario is not as … [Read more...] about One Big Happy Family: How to Avoid an Estate Dispute
10 Essential Estate Planning Facts
"You may delay, but time will not," Benjamin Franklin. Everyone knows that they need an estate plan, but few of us do anything about it. In fact, according to a 2007 study, more than 55% of Americans don't even have a simple Will. And yet, the clock is ticking for all of us. So why don't more of us actually put together an estate plan? For some, it's a morbid fear that by thinking about death, we'll hasten it. For some, it's simple procrastination. For many people, though, the problem is that … [Read more...] about 10 Essential Estate Planning Facts
Why are Roth's Such a Big Deal?
A Roth IRA has some important distinctions from a traditional IRA, and, depending on your tax bracket, your retirement needs, and your estate planning goals, a Roth could be a much better option for you. So, what's the difference between the two types of IRAs? The Traditional IRA A traditional IRA is a "tax-deferred" retirement account. This means that contributions are generally tax deductible for the year in which you make them, but when you retire and begin to withdraw money from your … [Read more...] about Why are Roth's Such a Big Deal?
