When you start to plan your estate in earnest you would do well to consider the details that must be attended to after you pass away. Unless the situation is very simple there are going to be some considerable tasks that must be undertaken by the individual or individuals that you choose to administer the estate.
People sometimes make estate planning mistakes that result in truly devastating consequences. With this in mind you would do well to take pause before starting a joint bank account and relying on your co-account holder to distribute your resources to your various heirs after you pass away.
If you are in a position to simply go about your business with no financial constraints during retirement you are in a fantastic position, but it is in fact a minority position. Most people are going to have to plan ahead carefully to be able to have the resources necessary to finance a reasonably comfortable retirement.
The estate plan that you originally put into place is going to be based on a snapshot, but life itself is more akin to an ongoing motion picture. As a result you would do well to look at estate planning as an ongoing process that will involve revisions along the way.
Blended families have become quite typical during our current era, and estate planning for blended families requires certain steps if you want to make sure that everyone's interests are served.
The Veterans Aid & Attendance special pension is in place to help former service members cover their assisted living and home caregiver costs. Unlike the retirement pension the length of service requirement is minimal. One must have served for at least 90 days with a minimum of one of these days taking place while the United States was at war.
As the story of the tortoise and the hare demonstrates, if you are consistent over a long period of time as you aim toward reaching your desired destination you should have success. This is something to keep in mind when it comes to retirement planning.
Family members can come in all shapes and sizes and have different needs. As a result, when you are planning your estate there is more to it than simply looking at a pie and slicing it up into pieces of various sizes.
If you are in possession of wealth that will logically remain intact across multiple generations even as family members benefit from these resources you are going to have to seek avenues that provide tax efficiency.
Some people are under the impression that things just take care of themselves when you achieve senior citizen status. Social Security will surely be enough to satisfy all of your financial needs and Medicare will cover your health care expenses.