Inheritance now what? Inheriting money puts a whole new spin on your outlook on money, says The Kansas City Star in its article “Coming into some money? Be wise with it.” Should you pay off your debts first, if you have any? Make a list of your debt balances and their interest rates. If the
If you’re a busy mom or dad; are committed to long hours at work or have a successful career, maybe a real estate developer or a physician, you’re too busy to think about retirement. However, just like you had to prepare for your current position, you need to prepare for your life after you stop
You probably already know that a lack of sleep can make it hard to concentrate and make you irritable, but did you know how much sleep is ideal? Finding that perfect sweet spot between not enough sleep and too much sleep is important for all ages, particularly as we age. Studies have shown a link
“[In politics] when A goes after B and there’s a C, and D and a Q all lined up there, you have no idea who’s going to be the beneficiary.” Mark Shields “Nobody’s going to do your life for you. You have to do it yourself, whether you’re rich or poor, out of money or
Estate Plan for Blended Family. There are several things that blended families need to consider when updating their estate plans, says The University Herald in the article “The Challenges and Complexities of Estate Planning for Blended Families.” Estate plans should be reviewed and updated, whenever there’s a major life event, like a divorce, marriage or
At its essence, estate planning is any decision you make concerning your property if you die, or if you become incapacitated. There are a number of things to keep in mind when creating an estate plan, says KTUU in the article “Estate planning dos and don’ts.” The first task is not what most people think.
Estate planning for blended families is like playing chess in three dimensions: even those who are very good at chess can struggle with so many moving parts in so many dimensions. Preparing an estate plan requires careful consideration of family dynamics, and those are multiplied in blended families. This is another reason why estate plans
“You have power over your mind—not outside events. Realize this, and you will find strength.”—Marcus Aurelius. “The mind of man is capable of anything.” —Joseph Conrad. For many decades, people assumed cognitive decline was inevitable with advanced age. Medical experts said people stopped making new brain cells as adults, so when we lose cells through
It’s not uncommon for an individual to inaccurately calculate their required minimum distribution (RMD) for their account. Maybe you forgot that your brokerage firm divided the account in two and they didn’t tell you. This mistake may result in a person failing to withdraw the mandatory amount from an IRA. What can a person do
“Tax planning is one element of estate planning, and in many estates is the least important factor. The larger issue is: Who will inherit and what will they inherit?” First National Trust Update April 2015. “A man of 70 need not be always feeling, much less talking, about his approaching death, but a wise man
