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Amoruso & Amoruso
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Pew Research analysis reports 20% of population living in multigenerational homes. There are a record number of multigenerational homes in the U.S. and that trend is expected to keep rising, according to a Pew Research Center analysis reported in Financial Advisor Magazine in “How to Address Multigenerational Estate Planning Issues.”... Continue reading
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Second marriage? You’ve entered a brave, new world, when it comes to estate planning. A second marriage can sometimes create a problem, because the biggest reason that stepparents and stepchildren fight is over money, according to the AARP in “Don’t Split Heirs With Your Estate.” If you and your spouse... Continue reading
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Fees can drain your accounts, so watch them carefully. You have saved for many, many years and are now ready for retirement. You need to accomplish many tasks as you get ready to leave your job but one of the most important things to watch for as you go over... Continue reading
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Social Security rules and regulations are the key to the magic retirement age. For some reason, many American have come to believe the magic number for retirement is 61 and they are wrong, according to The Motley Fool’s article “Americans’ Ideal Retirement Age–and Why It’s Not Realistic.” The article is... Continue reading
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The concept still going strong after three decades. The economic answer for retirees living in expensive cities, such as Seattle, may be cohousing communities, according to the Seattle Times in “Battling rising cost of living? Seeking a community? A look at the cohousing lifestyle.” This past June, Charles Durrett, an... Continue reading
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The new law goes a long way in protecting the elderly from the increasing threat of scams. Elder financial abuse is very costly totaling billions of dollars annually, as well as taking a heavy emotional toll on the elderly as the scams become more sophisticated, according to Forbes in ““After... Continue reading
Posted Aug 13, 2018 at New York Estate Planning & Elder Law
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Expected lifespan should be taken into consideration in savings plan. Women face a challenge in the U.S. This is because they have a longer lifespan than men but statistically make less money to be used for saving, according to The Motley Fool in “Why Are Women Only Saving Half as... Continue reading
Posted Aug 10, 2018 at New York Estate Planning & Elder Law
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You may think your work is done when your estate plan is completed. However, a remaining step may be informing the kids about what they face. If you wish to pass your estate on to your children, it might be a good idea to spend some time educating them about... Continue reading
Posted Aug 9, 2018 at New York Estate Planning & Elder Law
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A family may find a business model for meetings is a helpful guide, if an elder member of the family requires care. An elder member of the family sometimes needs care. If it is a family project, it can be easier, according to aPlaceforMom.com in “Guide to Elder Care Planning... Continue reading
Posted Aug 8, 2018 at New York Estate Planning & Elder Law
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The fear of huge medical bills causes worry to many a retiree. However, there is hope of solving the situation. Retirees generally fear that a medical expense shock will decimate their savings. However, there are ways to make the shock less stressful, according to Reuters in “How to shockproof your... Continue reading
Posted Aug 7, 2018 at New York Estate Planning & Elder Law
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Knowing the difference between a will and a trust is crucial, as well as how they will work for you as estate planning tools. Estate planning is unique to the particular circumstances of the individual or family. However, the two different tools that often come to the forefront are wills... Continue reading
Posted Aug 6, 2018 at New York Estate Planning & Elder Law
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There are ways to give away money that help people and create some tax breaks. If you’ve reached a point in life where you feel you have enough and want to give your money away, it would be wise to consider what your family thinks about sharing your resources, according... Continue reading
Posted Aug 3, 2018 at New York Estate Planning & Elder Law
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Your child is getting ready to leave the nest and head off to college. Now would be a good time to make sure proper legal documents are ready before the student departs. There are several standard preparations required as your child gets ready to head off to college life. In... Continue reading
Posted Aug 2, 2018 at New York Estate Planning & Elder Law
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The estate includes assets as well as frequent flyer miles … and where they will go. There is considerable interest in the estate of celebrity Anthony Bourdain and it is getting even more interesting, according to Forbes in “How Anthony Bourdain’s Estate Plan Reflected the Two Most Important Parts of... Continue reading
Posted Aug 1, 2018 at New York Estate Planning & Elder Law
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There are many keys to your income after retirement, including travel plans? Or, what if your health care costs go up? If you are trying to decide between Roth IRAs and traditional retirement savings, the key is knowing if your retirement income is going to exceed your present income or... Continue reading
Posted Jul 31, 2018 at New York Estate Planning & Elder Law
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There are many reasons to look at your old estate plan. What should not be forgotten is that everyone needs a will. There are many reasons to revisit your estate plan that don’t include the new tax laws that doubled the individual estate gift and GST tax exemptions to about... Continue reading
Posted Jul 30, 2018 at New York Estate Planning & Elder Law
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Despite claims by his family, the second man to walk on the moon fights back. Buzz Aldrin, the 88-year-old astronaut, who was second to walk on the moon, has filed a lawsuit accusing two of his own children and his former manager of taking advantage of their roles in managing... Continue reading
Posted Jul 27, 2018 at New York Estate Planning & Elder Law
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There are many things to think about when estate planning. However, among the most crucial is to take potential family conflicts into consideration. A group of professionals including estate planning attorneys, trust officers, accountants, charitable giving professionals, insurance advisors, elder law attorneys and nonprofit advisors recently attended a conference on... Continue reading
Posted Jul 26, 2018 at New York Estate Planning & Elder Law
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There are new tax laws in the country. However, there is still time to make necessary adjustments. If you have not already reviewed your estate plan and taken the new tax laws into consideration, now is the time to do so, according to Reuter’s article “Your estate plan needs an... Continue reading
Posted Jul 25, 2018 at New York Estate Planning & Elder Law
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Companies offer retirement savings plans. However, the challenge can be in both saving and withdrawing. Most employers offer 401(k) plans to employees as a means of encouraging savings for retirement. Some are generous enough to offer matches, although there are fewer of those today than in the past. Even after... Continue reading
Posted Jul 24, 2018 at New York Estate Planning & Elder Law
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How do you get organized and create a plan that helps your family, when you pass away? A California woman has organized a program that brings people together in a social gathering to discuss and consider their own death at some point in the future, according to NPR Weekend Edition... Continue reading
Posted Jul 23, 2018 at New York Estate Planning & Elder Law
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Your estate plan can run into difficulties, if your assets are not handled correctly. Your will does not necessarily have the final say on all assets. It is important how particular assets are handled. This can make a difference because houses, cars, retirement accounts and bank accounts can all be... Continue reading
Posted Jul 20, 2018 at New York Estate Planning & Elder Law
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Assets may have been wasted in $100 million trust fund. When Elvis Presley passed away, his assets were left in trust for the benefit of his daughter, Lisa Marie Presley. She is claiming in a lawsuit that the trust fund is depleted and she blames her former money manager, according... Continue reading
Posted Jul 19, 2018 at New York Estate Planning & Elder Law
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Massachusetts moves to make home ownership easier for elderly. However, the program can create a problem. To avoid the problem of its elderly residents keeping up with tax payments, Massachusetts created a program that lets seniors defer property taxes until after they pass away. The taxes are then owed by... Continue reading
Posted Jul 18, 2018 at New York Estate Planning & Elder Law
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Don’t wait for retirement to launch your estate plan. People often put off estate planning until they get older. However, life events should trigger proper estate planning much sooner. This includes things like getting married or having children. Nevertheless, some people put estate planning off until they reach the age... Continue reading
Posted Jul 17, 2018 at New York Estate Planning & Elder Law