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Michael E. Lehr
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Knowing that healthcare costs are on the rise is one thing. But seeing the numbers in black and white can be a shocker. A recent report from Fidelity Investments reports on the costs, and what some companies are doing to help employees before they retire. An annual study by Fidelity... Continue reading
It used to sound like a lot of money, but a new report says even with $1 million in retirement savings, where you live could make the difference between a comfortable retirement and running out of money. Depending on what state you live in and how long you live, having... Continue reading
With a five-year prison term for the chief of Samsung, the global electronic powerhouse now has to determine how to go forward. The conviction and sentencing, which led to the president of the country being ousted, are likely to have a far-reaching impact. A recent article in USA Today, “Samsung... Continue reading
Credit card debt is a serious challenge for a large group of Americans over age 50 that has a ripple effect on the quality of their retirement. The new MagnifyMoney analysis of data from a study conducted by the University of Michigan Retirement Research Center Health and Retirement, indicates that... Continue reading
Millennials are more open to the concept and the value of having a prenup in place. Practical millennials wait much longer than prior generations to get married. As a result, by the time they do say “I do,” many have well-established careers, own property and sometimes, businesses. They don’t see... Continue reading
It’s one of the topics people really steer clear of: their own death, and what they really want to happen after they die to their remains. It may be an awkward conversation, but it is truly worthwhile. We hear occasionally about the individual who decides to make all of the... Continue reading
The younger you are, the more time you have to make all the right moves when it comes to your 401(k) retirement savings accounts. There’s good news and bad news when it comes to statistics about retirement and American’s use of 401(k) accounts, as reported in Kiplinger’s article, “The 7... Continue reading
Two years ago, a victory for the elderly occurred when advocates succeeded in having more rights and protections put into place for the surviving spouse of a senior with a reverse mortgage. Protections put into place two years ago, could now be at risk as a direct result of a... Continue reading
The number of instances of elder financial abuse is growing dramatically, in every state. If it becomes federal law, a piece of bipartisan legislation passed by the Senate is expected to dramatically reduce the number of financial crimes against senior citizens. The Elder Abuse Prevention and Protection Act of 2017... Continue reading
Here are some basics on the use of a “life estate” that will be helpful to start a discussion about whether or not this planning tool might be a good fit for your family. When an adult son or daughter has a life estate on a parent’s home and is... Continue reading
We love our pets as much as any member of our family, but if you want to protect your companion animal after you die, you’ll need to put special protection into place. Animal shelters see it all the time: a family brings in a dog or cat whose owner has... Continue reading
Parents often find it difficult to find the fairest treatment of their children in estate planning. Dividing an estate equally among children may not necessarily be the fairest way in every case, according to the Wills, Trusts & Estates Prof Blog in "Be Fair to Your Heirs: Treating Children Fairly... Continue reading
Setting up a trust to protect your estate and beneficiaries from probate? Excellent! Here’s the next tough hurdle to finalizing your estate plan: selecting a trustee that you can count on. Naming a trustee is a big sticking point for many, as they go about putting their estate plan in... Continue reading
One of Hollywood’s leading ladies is suffering from the devastating disease, as the family appears to be enmeshed in the early stages of what may become a bitter estate battle. Known for their devotion to each other over decades, Joanne Woodward and Paul Newman were an iconic Hollywood couple. However,... Continue reading
“Can a charitable contribution be used to satisfy your required minimum distribution and lower taxes?” Contributing directly to a charity is a great idea. If you are thinking of giving your required minimum distribution (RMD) from an IRA to one or more charities, make sure that you understand the steps... Continue reading
If you live in a state that still has an inheritance tax, there are some steps you can take to avoid the tax. However, they must be done carefully, so that you don’t create any other issues. Here’s what people often don’t know about inheritance taxes: in states like New... Continue reading
It’s never too early to help a family member build their own retirement nest egg. Summer usually finds teens and college students working at summer jobs, and for many, proudly pocketing their first earnings. But an interesting perspective comes from Kiplinger Retirement Report, as explained in “Seed a Roth IRA... Continue reading
We like to think that we will never need this type of care, but the truth is, at some point, most of us will. Denial is how many Americans deal with planning for long-term care, according to an article in HomeCare, “5 Ways to Sort Through Long-term Care Planning.” Unfortunately,... Continue reading
Elder abuse is a global problem, and the World Health Organization is working to combat it through education and raised awareness. A definition of elder abuse from the World Health Organization (WHO) was recently described in The Carroll County Times of Westminster MD, in “Know the signs of elder abuse... Continue reading
Singles, especially those without children, might think that they don't need to have an estate plan. However, it is important to remember that estate planning is for when you are incapacitated, as well as asset distribution. While some tasks for estate and retirement planning for singles are the same as... Continue reading
“Despite facing a $400 million budget hole, Delaware is the latest state to repeal its estate tax—as of Jan. 1, 2018.” Delaware’s Governor John Carney Jr. recently signed an estate tax repeal bill, two days after signing the 2018 state budget, which includes tax hikes on real estate transfers, tobacco,... Continue reading
New regulations from the Department of Labor may come into play for Americans deciding which type of account is best for their retirement savings. There are significant differences between 401(k)s and IRAs, and as reported in a recent post on, “Advantages and disadvantages to a 401k and an IRA,”... Continue reading
The sad truth is, foreign lottery scams are still around because they are successful for the scammers. Millions of Americans are targeted every year. The first reaction from someone receiving a letter about a large award is often a wave of relief, especially if they are facing financial problems. For... Continue reading
A combination of additional training for law enforcement personnel and stricter criminal penalties are being put into place in Georgia, but some are concerned that the one-two punch might not be enough. Creating tougher protocols to track offenses, may be the missing piece in combating elder abuse among seniors in... Continue reading
Here’s another reason to meet with your estate planning attorney face-to-face. An overseas-based scam is targeting the elderly with a website that uses photos and content stolen from real law firm websites. A website purporting to be an estate planning law firm is the subject of a lawsuit from the... Continue reading