From figures released by the U.S. Census Bureau, the workforce is becoming an increasingly grey place. As more Americans reach the age of 65, more of them are also choosing to stay employed and are significantly altering the demographics of the modern labor force. About one out of every eight Americans is a senior citizen, but by 2040 that number is expected to rise to more than one out of five, or greater than 20%. As the recent recession has also taken a toll on birth rates, that percentage … [Read more...] about More Elderly Workers in Workforce
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Baby Boomer Health a Growing Problem
As baby boomers continue to get older and reach retirement age at a rate of thousands every day, health industry experts are becoming increasingly concerned with the prospect of facing an aging population that has more and more health problems. According to a recent study, baby boomers are far more likely to live longer than previous generations, while at the same time having chronic diseases that lower their quality of life significantly. The study, published in the Journal of the American … [Read more...] about Baby Boomer Health a Growing Problem
Incorporating a CRT Into Your Estate Plan
Some people who develop an estate plan early find that as the years go by their desires change and they want to adjust their plans to reflect their new goals. Many people, for example, place a much higher emphasis on charitable giving later in lives than they do when they first develop an estate plan after they have children. For many of these people, especially those with a considerable amount of wealth, incorporating a charitable remainder trust, or CRT, is often a good choice. Here’s … [Read more...] about Incorporating a CRT Into Your Estate Plan
How to Determine if Your Parents Need Elder Care
The beginning of the year often marks a time when many adult children with elderly parents start looking for assistance to assist their parents in their day-to-day lives. This phenomenon often occurs because adult children have recently spent time with their families during the holidays and because New Year’s resolutions often make helping their parents find elder care a priority. For some people, however, it’s harder to determine if an elderly parent requires assistance. It’s also hard to … [Read more...] about How to Determine if Your Parents Need Elder Care
Frequently Asked Questions about Intentionally Defective Grantor Trusts
What is an intentionally defective grantor trust? The intentionally defective grantor trust (IDGT) is a type of trust that allows one to transfer property into a trust so that the value of that property will not be included in calculating his or her estate and, therefore, will be omitted from estate tax liability. At the same time, the value of the property transferred into the IDGT is still used in computing the grantor’s federal income tax liability. How is the IDGT defective? The IDGT is … [Read more...] about Frequently Asked Questions about Intentionally Defective Grantor Trusts
