Beneficiary designations can be a simple way to pass assets at death. While beneficiary designations avoid probate, they may introduce other problems. This article shows how a revocable trust can provide a more flexible way to achieve a client’s goals. 6 Important Estate Planning Considerations – Part 4: Beneficiary Designations … [Read more...] about 6 Important Estate Planning Considerations – Part 4: Beneficiary Designations
Many factors go into retirement decisions. This article examines some of those factors. Being financially prepared is one aspect. Having your estate planning in order is another. But, being socially and psychologically ready for retirement are yet other aspects which people often don’t consider. Be ready for your next phase of life, this article will help you get there. Retirement: It’s not Just About the Money … [Read more...] about Retirement: It’s not Just About the Money
The "portability" clause in the new tax law (Dec 2010) may be more of a mirage than an oasis. Here's the basic concept. Spouse dies and doesn't utilize his or her (current) $5 million estate-tax exemption. In years/decades past, it was a "use it or lose it" exemption. For now, however, that isn't the case because the exemption is "portable" and can be used by the estate of the surviving spouse (if circumstances seem to cry out for its use). Here's how it works (and doesn't work). … [Read more...] about Estate-Tax “Portability” — Oasis or Mirage for Larger Estates?
What is the key to a long and happy life? There seems to be no single answer but evidence does support a number of lifestyle behaviors that can increase lifespan, healthspan and overall quality of life. Here is what Longevity expert Dan Buettner discovered when he traveled around the world in search of what makes people happy. Where you live. Where you decide to settle down is one of the most important determinants of how happy you will be. Individuals tend to be happiest in sunny areas and on … [Read more...] about Are Your Lifestyle Choices Affecting Your Happiness?
I'm reading "Happy to 102" by Kathy and James Johnson, and Lily Sarafan. They are senior-care industry advocates in Palo Alto, CA. The Johnsons hold PhDs and Kathy Johnson is a Certified Geriatric Care Manager. The Census Bureau notes that within 50 years there will be one million Americans age 102 or older. THAT’S US! No longer can we plan on living to 75, 80 or 85. Say the authors, we need "to plan" our current lifestyle so that we will enjoy health and happiness as we approach the … [Read more...] about “Happy to 102”
When people think of a pet Trust for their pet, they might imagine Leona Helmsley’s pet Maltese named Trouble drinking Perrier from a crystal bowl in a lavish Manhattan penthouse. However, you don’t have to be rich and eccentric to set up a Pet Trust. Pet Trusts are most commonly set up by caring individuals who just want to make sure that their non-human family member is taken care of in the event of their own death or disability. If that event does occur what will happen to man’s best … [Read more...] about Pet Trusts Gaining in Popularity
We may not be facing a hurricane any time soon, but the bizarre earthquake that hit the east coast two weeks ago should have Utahans thinking about preparedness. In fact, according to the U.S. Geological Survey (USGS) National Seismic Hazard Map, the entire state of Utah ranks above the 16th percentile of earthquake hazard levels. The map displays probability levels for earthquake ground motions across the United States that are applied in seismic provisions of building codes, insurance rate … [Read more...] about Is Utah Next for Devastating Natural Disaster?
I recently had the opportunity to write an article for Living Well magazine, a publication dedication to the health and wellness of individuals 60+. The article on financial abuse of the elderly is in the summer 2011 issue and can be seen by clicking here. Enjoy. … [Read more...] about Randy Holmgren Published in Living Well Magazine
In 2002, my father was old and feeble, and he lived alone. I was faced with the prospect of having him live in an assisted-living facility to help him with meals, laundry, personal hygiene, transportation -- and other needs. I DID NOT KNOW about "at-home" care providers. My father did not want to go to an assisted-living facility, but I told him that was his only choice -- and he did not like it. He passed away within weeks, and I've wondered if I hastened his death with my insistence that … [Read more...] about At-Home Care For Aging Americans
According to the following report, financial abuse of the elderly is on the rise in the U.S. The key findings of the report are extremely troubling and sad. However, this type of abuse is PREVENTABLE. Adjustments to a Living Trust can significantly minimize the risk of financial abuse of the elderly. If you know people (parents or adult children) who ought to be thinking about this, please let them know about this report. NCPEA, in partnership with the MetLife Mature Market Institute and the … [Read more...] about Study Examines Financial Abuse of the Elderly