Far too many people put off estate planning because they assume that it only affects those who have a significant amount of assets or confusing issues that must be dealt with in the estate planning process. Plenty of different news stories have articulated the challenges that celebrities face in the estate planning process, but… Read More »
Posts By Author: Tiffany O'ConnellPage 31
Should My Life Insurance Proceeds Be Payable to An Estate?
One of the most important things to be mindful of in planning for your estate is how you list beneficiaries on assets that will pass outside of a traditional will. One such example is from your life insurance policy. You likely purchase your life insurance policy as a way to protect your loved ones if… Read More »
Women Must Plan for Their Own Retirement and Possibility of Widowhood
You might not assume that there is a future without your current spouse, but this is a major retirement and estate planning mistake and one that could put you in a very difficult situation, years into the future. When you fail to plan for the possibility of becoming a widow or widower, difficult financial and… Read More »
Understanding Powers of Attorney and Wills for Estate Planning Purposes
Most people fall into the camp of experiencing many different misconceptions about powers of attorney and wills. Many people think that will planning or estate planning is something that only the elderly should do and might not necessarily be for a younger couple or a single individual. However, anyone who has loved ones or who… Read More »
What Happens to Debts After Death?
Are you concerned about what will happen to any debts you have in your name when you pass away? Settling the affairs of someone who recently passed away can be very difficult because important financial decisions must be made sooner rather than later. These decisions often have to do with whether or not to repay… Read More »
Don’t Neglect Long Term Care Planning
A recent study of widows and widowers indicated that less than one out of five felt that their financial planner is providing them with appropriate information about long term care planning. Long term care planning is crucial for outlining your prospective risks and ensuring that you have a plan in place to address them if… Read More »
Caregivers Must Remember To Care For Themselves
According to a report issued by the National Alliance for Caregivers and AARP, approximately 40 million Americans provide unpaid care to another adult. What is more, providing adequate care to a spouse or partner requires, on average, over 44 hours per week. Sadly, caregivers often devote so much time and energy to caring for a… Read More »
Does My Will Executor Get Paid?
Part of your estate planning goes farther than selecting the documents and tools you’ll use to protect your own interests. In fact, your estate planning cannot be done until you’ve thought about the people who will serve in the most important roles in your life or when something happens to you. An executor is one… Read More »
Key Special Needs Planning Tips for Families
As parents, you have taken on an important responsibility to care for a child with special needs. Financial and estate planning for families that have children with special needs is extremely important because the details matter and can have life lasting repercussions for your loved one. The average cost of raising a child from birth… Read More »
Medicare, MassHealth, And Planning For Long-Term Care
Many people are confused about the difference between Medicare and MassHealth as it pertains to the challenge of paying for expensive long-term care. This is not surprising. The two programs sound similar and both provide for medical care. Let’s start with a brief definition of each program. Medicare is an entitlement program. Everyone who reaches… Read More »