Aging is the sign of a successful life. After all, when you think about the alternative to aging your perspective about getting older shifts. You should start seeking self-sufficiency for your retirement years well before the age of sixty-five. But, even if you have not done so, don’t shun the planning stages. You need to […]
When it comes to establishing wills and estate plans, older Americans outpace their younger counterparts. Still, a significant number — 19 percent of those over age 72 and 42 percent of those between 53 and 71, according to survey data — lack any type of estate plan. Although managing these details can seem daunting, and
Whether your child is graduating high school or college, it’s important to help them plan for their financial future. You want to set a strong foundation for long-term financial stability by broadening their scope of financial literacy. Sharing the following tips can help prepare them. Budgeting Expectations and Boundaries Nearly one-third of young adults don’t
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Creating a living will ensures your future health care decisions and plans are respected. A living will, also known as an advance directive, is a legal document outlining medical treatment preferences and end-of-life care if you can’t communicate or make decisions for yourself. Everyone should have an advance directive, as end-of-life situations can happen at
These two forms of taxation relate to transferring wealth from generation to generation but are entirely different. The federal government levies a tax on all estates when the value meets a certain financial threshold. Twelve states and the District of Columbia levy additional estate taxes with separate thresholds. These residents must pay both federal and