Reasons to Review Your Estate Plan

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Even if the recent tax law changes do not change the impact of the estate tax on your estate, there are other reasons to review your estate plan now.

Much of the estate planning talk about the recent large tax law changes has focused on the implications of the changes to the estate tax and the possibility of their rollback in a few years. Families that might be affected by those changes, are being advised to revisit their estate plans.

Unfortunately, the focus on that single issue might make people not affected by the estate tax think they have no...

Cryptocurrency Estate Planning Difficulties

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Despite high volatility and cautions from financial advisors, cryptocurrencies continue to grow in popularity. That can make estate planning difficult.

Most financial advisors surveyed on the subject, say they would advise their clients not to invest in cryptocurrencies, such as Bitcoin and Ethereum. The markets for these and other digital currencies are extremely volatile and subject investors to substantial risk.

For many people, the volatility is attractive because there is a chance for a great reward. Therefore, cryptocurrencies are increasingly popular but they are choosing to deal with an issue discussed by the Financial Standard in “Crypto assets...

Why You Cannot Wait to Plan Your Estate

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People often think they can wait until they retire to make plans for their estates. However, it is very likely that people will need plans before then.

Americans generally like to drag their feet, when it comes to estate planning. They always think they can wait until they get a little bit older. Many try to put it off, as long as possible.

These Americans do not prepare estate plans, until they are about to retire or even until after they retire. That means they do not have wills. They do not have trusts. They do not have any advanced...

Retirees Not Spending All Their Assets

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A new study suggests that retired Americans are not running out of money.

The conventional wisdom is that when people retire, they will slowly spend down the money they saved for retirement. If they live long enough, they will eventually run out of retirement savings. This happens in many cases. However, a new study suggests that the opposite is actually happening.

The study found that two decades after retiring, 80% of retired Americans retained all of their pre-retirement assets and, in some cases, had more assets than when they retired. The Wills, Trusts & Estates Prof Blog discussed this study...

Bad States for Caregivers

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It can be very expensive for families to provide the care needed for elderly parents. Sometimes living in the wrong state can make things worse.

In recent years, the costs of providing care for the elderly has skyrocketed. The rising costs have put extreme pressure on the finances of many American families who provide care for their older parents. The elderly parents often discover that they did not save enough for retirement to cover the rising costs for themselves.

However, not all states are equal. Caring for elderly parents is cheaper in some states than others.

Financial Advisor recently reported...