Warren Buffett Gives Us a Preview of His Will
By Karen Langley (WSJ) Warren Buffett has refined his plans for giving away one of the great fortunes of the modern era. In an interview with The Wall Street Journal, Buffett—the chairman and chief executive of Berkshire Hathaway BRK.B -0.42%decrease; red down pointing triangle—said that after his death nearly all of his remaining wealth will go to a new…
Read MoreA Qualified Terminable Interest Property Trust: A useful tool in your estate planning toolbox that you might not know about
A Qualified Terminable Interest Property (QTIP) trust is a specialized, irrevocable trust designed to provide for a surviving spouse while maintaining control over the ultimate distribution of assets. Commonly used in comprehensive estate planning, a QTIP trust allows an individual to ensure their spouse is financially supported while guaranteeing that the assets eventually pass to…
Read MoreNo Matter Who Becomes President, Start to Plan: Tips for how to start your estate planning process today – for your future
Many people postpone the planning of their estates because they assume that estate planning is only for the affluent. Others may think that estate planning is similar to tax planning, which can always be done “later.” In some cases, estate planning may be put on the back burner because it is a reminder of one’s…
Read MoreLong-Term Care Facilities: Types and Costs: Learn about the different types of long-term care facilities, how much they cost and how they can help your loved one.
By Lisa Esposito and Elaine K. Howley from US News Medically reviewed by Michael Tehrani, MD Most older adults end up needing some form of care later in life. Getty Images According to the Administration for Community Living, someone who’s turning 65 today has an almost 70% chance of needing long-term care during their remaining years. About 20% of those…
Read MoreHow to Pay for Long-Term Care: 8 Strategies
By Tammy Ward and Ed Friderici for Horsesmouth For most, it is difficult to think about the possibility of needing long-term care. But many will need it. Start the discussion and prepare yourself now so you do not face a financial challenge later. LONG-TERM CARE PLANNING—IF NOT NOW, WHEN? Two big questions loom as the…
Read MoreHome-Health-Care Factors for You to Consider: Tips for finding the best fit in caregivers to ensure quality care and comfort
Are you thinking about home health care as a solution to providing help with daily activities such as bathing, meal preparation, and housekeeping? Many older individuals benefit from receiving assistance in the comfort of their own homes, allowing them to maintain their independence longer. But, before you agree to at-home care, carefully consider all the…
Read MoreInherited IRA Rules & SECURE Act 2.0 Changes
Losing a loved one is always difficult. Understanding the rules of money passage during this time is especially important. One way wealth passes from generation to generation is through inherited IRAs. When it comes to these individual retirement accounts (IRAs), it’s important to understand the rules that have recently changed related to the Setting Every…
Read MoreJump Starting the LTC Conversation This Summer: When we turn 65, there will be a 70% chance of needing some type of LTC
Talking about long-term-care (LTC) can be challenging, and it can be especially difficult to know where to start. How you choose to broach the conversation may depend on your loved one’s personality, age, health status, cognitive function, and religious beliefs. If you don’t know how to break the ice, consider the following strategies to jump-start…
Read MoreAuto insurance rates are jumping the most since the 1970s, but there could be relief soon
Soaring auto insurance costs have been a principle driver behind inflation over the past year, but there could be relief on the way, according to Bank of America. The bank’s economists see several driving factors behind the run-up in costs to ease in the months ahead, possibly taking some of the heat off a category…
Read MoreHome Insurance Premiums Are Surging—and States Are Allowing It
By Jean Eaglesham from WSJ Home insurers are pushing for big rate increases and weakened consumer protections—and increasingly getting what they ask for. State regulators across the U.S. appear to be buckling to industry demands for fear that insurers will pack up and exit their regions, leaving residents with few coverage options. In the last 12…
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