Inheritances and Baby Boomers

Baby Boomers have not been getting as much money from inheritances than they expected.  Additionally, because of the rising cost of retirement, Boomers often find themselves helping out their parents financially instead.  All this amounts to a financial strain, which is something to be aware of as our parents approach retirement and end of life.  A very interesting article by Stephen Webster can be found here: http://www.wsj.com/articles/SB10001424052702303990604577370001234970954

Pros and Cons of Long Term Care Insurance

Deciding whether you need long term care insurance can be difficult.  As with most big decisions, the best approach is to hear arguments for both sides of the issue.  That's why I enjoyed Mark Meiners and Prescott Cole's arguments in this Wall Street Journal article.  And of course, I'll be happy to help you figure out whether long term care insurance is a good fit for you. Here's the full article: http://www.wsj.com/articles/SB10001424052702303425504577352031401783756

Thinking Honestly About Retirement

Planning for retirement can be tricky, and sometimes scary.  It's easy to trick ourselves into thinking that we don't need to worry about some things.  But, in the end, honestly evaluating what your needs will be, and making plans to satisfy those needs will make retirement much more enjoyable.  Advising my clients on this is a major part of my practice, and you can also read up on some of the common ways people deceive themselves about their retirement in Glenn Ruffenach's article here: http://www.wsj.com/articles/SB116544325824442699

Protecting your Trust

Many people use incentive trusts to ensure that their heirs use their inheritance responsibly. However, this restriction can make the beneficiaries frustrated. In these cases, appointing someone as a trust protector can help smooth over any contention between the beneficiary and the trustee.  To learn more about this approach, I recommend Greg Young's article in the Wall Street Journal: http://www.wsj.com/articles/voices-greg-young-on-using-a-trust-protector-1406732294

Life Insurance and Chronic Illness

If you have a chronic illness, your life insurance may allow you to receive accelerated benefits, which will change the structure of your overall insurance plan.  This can be very helpful for some people, but you want to make sure you're navigating the process correctly.  I help my clients evaluate all their options, including accelerated benefits, in my practice.  You can read Anne Tergesen's full article on the subject in the Wall Street Journal here: http://www.wsj.com/articles/for-the-chronically-ill-a-lump-sum-option-1401583452

How To Talk About Family Matters During Holiday Gatherings

Good estate planning is all about talking to your family.  Holidays are a great opportunity to do so, with multiple generations present to make their voices heard. But how do we talk about important and serious issues, like end-of-life planning, without ruining the holiday spirit?  Tom Lauricella has some great tips in his Wall Street Journal article: http://www.wsj.com/articles/the-holiday-opening-for-family-discussions-1416704964?mod=ST1

The ACA and You

The Wall Street Journal has a very helpful article about what you need to know about navigating the Affordable Care Act.  The section about Medicaid particularly caught my attention.  Figuring out Medicaid can be confusing in the best situations, and that's why I make it a part of my practice to help my clients make sure they're getting the best coverage they can.  If you have any questions about how the Affordable Care Act might influence your Medicaid, please feel free to contact me.  You can read Avery Johnson's full article about what you need to know here: http://www.wsj.com/articles/SB10001424052702304213904579093371338509610

Never Too Early To Start

Every young adult knows the importance of taking on responsible debt and saving for big investments, like a house or a car. But, not many of them realize the importance of estate planning.  Even if you don't need a full will yet, it is important to start thinking about people who would be able to act on your behalf in the event of an emergency.  And, of course, once you're ready to write your first will, I'll be happy to help you. Anne Tergesen has an excellent article on the subject in the Wall Street Journal, which you can read here: http://www.wsj.com/articles/SB10001424127887323981304579079473312130490