Archives for Estate Planning

Top 5 Things Baby Boomers Should Know

The Social Security COLA (cost of living adjustment) in 2019 will be 2.8%. This is the largest COLA increase from the Social Security Administration since 2012.1 Social Security benefits are often taxed. If you work and are at full retirement age or older, you can earn as much as you want and your benefits will not be reduced; however, you may have to pay taxes on them. If your annual combined income is from $32-$44,000 filing jointly, you may have to pay taxes on 50% of your benefits. If your income is more than $44,000 filing jointly, then you may
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Categories: Estate Planning, Medicare, Retirement, Social Security, and Tax Planning.

Estate Planning Basics

October is “Estate Planning Awareness Month.” Here are some basics about estate planning that everyone should know. Everyone should have a plan Even if you think “you’re not rich enough” to have an “estate,” unless you’re homeless or destitute you should have an estate plan in place. Estate plans provide for the people you leave behind when you pass away, and help ensure that your final wishes get carried out. The last thing you want is your family members fighting over dishes or fishing poles when you’re gone, or having to sell the family home or take other drastic measures
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Categories: Estate Planning and Financial Literacy.

Who do you love? leaving a legacy.

When you see technicolor Peeps lining the grocery store shelves, you know that Spring is near and families will soon be gathering to celebrate the season. Whether you are gathered around an Easter feast or beaming with pride at a grandchild’s graduation, you may start thinking about the long-term legacy you are leaving for your loved ones. Legacy gifts can take many forms. Mementos, albums and scrapbooks, for instance. Or researching and sharing your genealogy. Or a custom cookbook that includes all the favorite family recipes. Just as important are considering the financial realities your loved ones will face without
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Categories: Estate Planning and Uncategorized.