When you are a single parent, you must take action to put an estate plan in place. There is absolutely no way that you can responsibly go through life without making provisions for the well-being of your children if you were to pass away. This is true regardless of your age. Of course, we all expect to watch our children become adults in their own right, but there are no guarantees. Individuals pass away in accidents and due to sudden catastrophic health conditions each and every day. As sad … [Read more...] about Estate Planning for Single Parents
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When Should You Accept Retirement Benefits?
The Social Security program is extremely important to a significant percentage of American senior citizens. However, you should certainly recognize the limitations, because benefits are often quite modest. At the same time, the income will help. You may hear that you could start to collect a monthly Social Security benefit when you are 62 years of age. This is true, assuming you paid into the program sufficiently during your working career. The FICA or self-employment taxes that you pay go … [Read more...] about When Should You Accept Retirement Benefits?
What Are Advance Directives for Health?
A lot of people think of estate planning as a process that is exclusively focused on financial matters. Without question, it is important to state your final wishes regarding the way you want your remaining resources to be distributed among your loved ones. At the same time, a well-constructed estate plan will address circumstances that you may encounter toward the end of your life. With this in mind, we will look at advance directives for health care in this post. Life Support … [Read more...] about What Are Advance Directives for Health?
A Look at Three Forms of Asset Protection
As estate planning and elder law attorneys, asset protection planning is something that we engage in on a daily basis. The term is usually used as it applies to litigation, but there are other looming threats out there as well. In this post, we will look at three different types of asset protection. Business Formation If you are starting your own business or professional practice, you should definitely keep asset protection planning in mind from the outset. There are different business … [Read more...] about A Look at Three Forms of Asset Protection
Best Places to Retire: State Taxation
You owe federal income tax wherever you live. But your overall tax burden can vary dramatically depending on where you live. Read on to learn more. Best Places to Retire: State Taxation … [Read more...] about Best Places to Retire: State Taxation
