Going straight from a busy work life to ‘retired’ can be difficult, if you haven’t mapped out your path. Preparing yourself effectively involves both financial and lifestyle choices.
It is very common for parents in later years to consider gifting their home or other real estate to their children during their lifetime
In a divorce, both beneficiaries and policy ownership should be modified to account for the change in marital status and its implications.
Becoming a parent means taking on a whole new level of responsibility. After all, you’ve now got a new life in your hands and your child is dependent on you for everything.
If you are lucky enough to inherit a 401(k) or an IRA, when you don’t know what you are doing, you could put your inheritance at risk. The tax rules need to be followed to the T. These IRS inherited IRA rules will vary, depending on who has passed away, and who is inheriting the retirement accounts.
When financial advisors tell people the standard rules of thumb, like they need to have at least ten times their final salary saved by the time they retire, people throw up their hands and walk away.
Unlike personal property, real property—such as real estate or automobiles—is titled to convey ownership. This title must transfer when the asset is sold and must be cleared—or free of liens or encumbrances—for transfer to take place.
Can a nursing home make a person who is in the home liquidate money in an IRA and spend it down to pay for care, before they can apply for Medicaid?
The vast majority of the “fountain of youth” products that make bold claims about warding off dementia, are at best placebos and rip-offs.
An attorney can take a look at the will and tell you what your rights are.
