As you and your loved ones age, you might wonder what are the available options for housing for seniors, and what is the right fit? The good news is that there are several broad options for senior housing and within each option is a spectrum of smaller options to best meet your needs. We will break each housing option down…
Big Three from Episode #068: Be thoughtful about which type of plan you genuinely want to be a part of if you were to get sick in the future. Make sure you have a Medigap plan to help protect your retirement savings. Some decisions are irretrievable, so you must make sure you seek help, ask questions, and talk to someone…
Big Three from Episode #067: If you’re including any type of real estate in your estate plan, it’s vital to discuss with your attorney and understand how Prop 19 can impact you and your loved ones. Make sure your children are included in the discussion and planning process. Do not panic. There are workarounds and ways to protect your assets…
Big Three from Episode #059: Elder mediation can help families reach agreements about legal, financial, and care planning for their aging loved ones and their estate. Even if you think a conflicting party will not agree to mediation, it’s worth getting in touch with a mediator to find ways to engage the parties in communication. The ultimate goal is to…
Big Three from Episode #057: The current estate tax exemption is $11.7 million, but that doesn’t mean you shouldn’t file. Estate tax returns are not easy, but they are worth it. Margaret’s expert opinion: If you can take advantage, file it. An estate tax return is not an income tax return. It’s an inventory of your assets, your deductions. It’s…
When people write down their assets in conjunction with their estate planning, they often overlook their digital assets. Digital assets are considered to be any electronic record that you own or control. This can include Venmo, PayPal, Zelle, or other online accounts. It can also include cryptocurrency, such as Bitcoin, social media pages, online photos, email accounts, credit card rewards,…
Big Three from Episode #055: Prop 19 is a time-sensitive issue that may impact real estate inherited by your children after February 16th. The only way to maintain a low property tax payment under Prop 19 is if a child keeps an inherited primary residence as their own primary residence. Own a vacation home? Be prepared for higher property taxes.…
Big Three from Episode #054: Many laws and regulations are governing reverse mortgages that protect consumers and ensure transparency. Reverse mortgages are a useful tool to help solve a variety of financial problems like enabling seniors to remain in their homes, pay for in-home care, and more. Take the time to educate yourself on reverse mortgages. It is worth it…