Lucy clung to her coffee mug, gripping it so hard she was afraid it might shatter. “I’m telling you, Lucy, Mom and Dad made me promise that we would not put them into a nursing home,” her sister, Samantha said. “They need a caregiver. And since you’re a stay-at-home mom, we think you’d be perfect for the job.” Lucy glared…
The Golden Years May Have a New Name: The Bankrupt Years In the past month or so, a number of articles in the news have come out showing that seniors are declaring bankruptcy at an increasing and alarming rate. The debt burden on seniors is going up due to student loans, credit cards, and lack of retirement savings. Often, the…
IRAs, 401(k)s and other tax-deferred retirement accounts allow your savings to grow tax-free until you retire. The year after you become age 70 ½, you must begin taking required minimum distributions from your retirement accounts, and you will pay ordinary income taxes on all distributions. The rest of the money that stays in your account continues to grow tax-free until…
In this episode of Absolute Trust Talk, Kirsten welcomes attorney Bob Gonser to the show. Bob’s practice focuses on matters involving disputes between investors and their financial advisors. Bob typically works on a contingent fee basis and has successfully handled hundreds of cases for his clients whose investement accounts have been mismanaged resulting in the loss of irreplaceable assets. Kirsten…
This is another installment in our very occasional series on estate planning lessons learned from celebrities. The actress Nichelle Nichols, 85, who is most famous for portraying Lieutenant Uhura on the original “Star Trek,” is currently the subject of a conservatorship battle pending in Los Angeles Superior Court. Ms. Nichols’ son, Kyle Johnson, filed the petition for conservatorship in May…
Continuing care retirement communities (CCRCs) often require new residents to pay an entry fee in exchange for lifetime housing and priority access to healthcare, in addition to a monthly fee. These entry fees can be in the hundreds of thousands of dollars. In many cases, a sizable portion of the entry fee may be refundable to the resident if they move…
