A multigenerational IRA is one that allows an individual’s retirement plan to be “stretched” to first-generation beneficiaries as well as subsequent heirs. This is why it has gotten a nickname as the “stretch IRA”. There are some situations when it makes good sense to offer these assets to your loved ones, especially if you don’t […]

For some reason, there’s a belief out there that Medicaid planning is against the law or in some way trying to circumvent the system. The reality is that this is not true at all. In fact, many attorneys and individuals invested in the Medicaid planning process have an expert level of knowledge about government regulations […]

Although you won’t be around to witness it, a will dispute can be extremely frustrating for your family members. To the extent that you can, it’s a wise idea to set yourself up for success by limiting the opportunities for a will contest to emerge.  Using a checklist is a good way to increase the […]

When it comes to options for planning your estate, the revocable trust tends to be more flexible than other tools. You can change it over the course of your life or even destroy it if you want, which appeals to people who are not sure whether they want their wishes to be permanent. If you […]

Think you don’t need estate planning because you’re not married or have no children? It’s a mistake to skip over this vital process, because every person should evaluate five possible tools that can help plan for the years ahead. These five documents are just the basics and it’s recommended that you meet with an estate […]

As I speak with clients about their wills and trusts, I find that many people are confused about what a safe deposit box should be used for. I’ve created a video that will answer the three most common questions regarding safe deposit boxes: Do I need a safe deposit box? What should I keep in […]

When you own a home, you open up the possibility for multiple heirs to argue over the property in the future. This could happen because one heir wants to keep the property to himself or herself. This could necessitate a new mortgage loan or a cash-out refinance.  A home is a significant asset and probably […]

Most people are familiar with the idea of using estate planning as a way of determining what happens after they pass away, but there are also benefits to planning ahead for possible incapacity. Thinking about this could be critical for setting aside instructions for personal care and determining who can help manage your assets in […]

With more than 47.5 million individuals affected by dementia worldwide and 7.7 million new cases annually, research is targeting ways to prevent or limit the impacts of the disease. Researchers in Finland believe they have identified four ways to stave off the mental decline that is becoming more common with older age.  The study involved […]

If you are concerned about an individual growing older, such as a parent, long term care insurance can provide a lot of benefits in addition to your peace of mind. Long term care insurance, when purchased at the right time, can safeguard against the skyrocketing costs of a long term care event. Long term care […]