What are the financial issues that come with remarrying later in life? I’ve been seeing a wonderful man for two years, and we’ve been talking about marriage, but I want to make sure we understand all the possible financial consequences before getting hitched.
That’s a great question. Getting remarried later in life can actually bring about a host of financial and legal issues that are much different and more complicated than they are for younger couples just starting out. Here are some common problem areas you need to think about, as well as some tips and resources that can help. Continue reading
Great review of basic considerations before finalizing your estate plan.
“Who should receive my property?” asked Helen to her attorney, Clara. “There are so many decisions to make. Since Morgan passed away, I need to make these decisions myself. Should I give property to the children outright or in trust? Is there a best age for them to receive the property? And what if one of them were to pass away before I do? The grandchildren are still too young to manage property. I also have made a loan to one of the children. Should I forgive that loan? And what about my dog Rover? Who will take care of Rover?” Continue reading
A successful business owner with a large estate passed away in 1976. He had grown up in Texas, moved to California and also lived for many years in Nevada. With a $2.5 billion estate, there were substantial federal and state taxes. While the estate proceedings were held in Nevada, both California and Texas sued to collect state estate tax. The Nevada Court eventually determined that the domicile or personal residence of the businessman was in Nevada. While this was an unusual case with a very large asset value, there are several reasons why you should understand the basic rules of domicile. Where you live can affect both the distribution of your estate assets and your estate taxes. Continue reading
Carol Bradley Bursack, with AgingCare.com, shares this
A frequent problem expressed among adult children is that their parents aren’t truthful with their doctors. While the parent may complain at home of pain, exhibit memory problems and accuse family of theft when he or she can’t locate a commonly used item, the moment the parent faces their doctor a change occurs. Like an actor on stage, the person sitting in front of the doctor becomes animated and charming. My mom was a supreme example. She fell in her apartment—often more than once a week. She had memory problems. She was taken advantage of by telemarketers. She had digestive issues. However, when I took her to her doctor, what I called her “hostess personality” took over. While she may have complained of pain in the car during our drive, the minute she had a chance to tell her doctor how terrible she felt she was perkiness personified. Continue reading
What is the best way to find a good in-home caregiver for my elderly mother?
Finding a good in-home caregiver that’s dependable, likeable, trustworthy and affordable can be challenging to say the least. Here are some tips and resources that can help. Continue reading