It is becoming more common for people to be parents at an older age, partly because of changing cultural mores and advances in fertility treatment. Comedian and author Steve Martin had his first child at age 67. Singer Billy Joel, 70, welcomed his third daughter in 2017. Janet Jackson had a child at age 50. […]
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If you are preparing an estate plan, one of the figures that you are likely focused on is the value of your estate. Naturally, the higher the value, the more you are leaving behind to your heirs. If you are not happy with the current figures, there are many different ways to increase the value […]
Financial advising is commonly viewed as a service for the wealthy, but the reality is, anyone can benefit from the services of a financial advisor. In fact, if you do not consider yourself wealthy, that may be even more reason to hire one! Here are a few reasons to use a financial advisor. 1 – […]
Losing a spouse is one of the most difficult experiences in life. After you have addressed the immediate concerns of a funeral and burial, the next steps are often the toughest. If you’re not sure where to start, here are a few important things to do after the death of a spouse. Gather Legal Documents […]
Coping with the loss of a spouse can make it difficult to focus on matters such as life insurance proceeds and managing your finances. The unfortunate truth is, many who experience such a loss make common mistakes that negate the positive impact that the proceeds are intended to offer. If you or a family member […]
When you run a family-owned business, that business is directly tied to your family’s livelihood. Any delay in its operation upon your death could be detrimental to your business and your family. It is important to take measures to protect and secure that business in your estate plan. The following are a few tips on […]
There are several ways to transfer family-owned businesses upon your death. Below, we provide a brief overview of a few of these options. Understanding these options will help you select the best option for you and your family. 1 – Gift it to an Heir The first way to transfer family-owned businesses is to simply […]
Estate planning and retirement planning go hand-in-hand. By accounting for needs such as long-term care, you can ensure financial stability in your retirement years and preserve assets for your heirs. Massachusetts Estate Planning for assisted living and long-term care includes several different considerations. Include Assisted Living in Financial Plans Assisted living and long-term care expenses […]
It is never too late to implement an estate plan. In your elder years, estate planning takes on a different approach than in your younger years. Your children may be adults and are able to maintain their own support. Your goals may be more related to providing for your own needs while not leaving a […]
Life insurance policies allow you to designate specific beneficiaries. Names listed directly in these policies override what may otherwise be stated in your will. Most parents are inclined to list their children as beneficiaries, but this does not normally achieve the desired result. Here are a few reasons why. 1 – Delayed Receipt of Proceeds […]