Federal law mandates that you take a required minimum distribution (RMD) from your IRAs by April 1st of 2020 if you turned 70-1/2 in 2019, or by April 1st of the year after you turn 72 (after 2019), thanks to the new SECURE Act passed in December of 2019. Each year after that age you must take your RMD by…
Jean opened the envelope that contained her aunt’s will and began to laugh. “Oh, Aunt Sarah. You and your post-it notes.” She shook her head. Jean pulled out the document. The entire front page was covered in small yellow squares of paper. “Guess she changed her mind, a few times.” Her sister, Joan, frowned. “What a mess. How are we…
Who needs to think about long-term care? That’s something for down the road. Or maybe you’re healthy, you have your wits about you, and you just don’t think that is something you will ever need. Well, believe it or not, 70% of people over the age of 65 will need long-term care at some point while aging. Unfortunately, health insurance…
“What a mess,” Leona muttered as she picked through the contents of her deceased father’s garage. “How does one person collect all of this stuff?” She pulled a trunk out from under a pile of rags. “This looks interesting.” She jiggled the padlock that held it closed and it came off in her hand. “Geesh, so much for safeguarding the…
We all think that we can help our parents as they get older and even as they begin to lose capacity. This may be true, but if a parent with dementia can no longer be safe at home, is combative, or can no longer manage their finances or basic needs, what do you do? Many people rely on estate planning…
Elder abuse is a common topic and we hear frequent warnings about scams by caregivers, email and telephone scams, and even being taken advantage of by children or grandchildren. While marrying for money is not a new concept, it is quickly spreading into the area of elder abuse. Caregivers, or people wanting to get close to an elderly person with…
Divorce, remarriage, and blending families are treacherous enough waters to navigate, let alone wondering if all sides of your family will get along when you die. Those are all critical junctures to update your estate plan, whether it be a trust, a will, power of attorney, health care directive, or just beneficiary designations. If all aspects of your estate plan…