Kenneth W. Kossoff's Profile

Understanding Long-Term Care Finances and Planning

Most of us will need some kind of long-term care during our lives. Accepting this as a possibility and planning for the expense, is a wise way to protect your retirement. Continue reading

Posted Sep 28, 2018 at Ken Kossoff - Estate Planning Blog

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You Switch Healthcare to Medicare—But Your Doctor Doesn’t Accept It. What Now?

This situation is occurring more and more often, and it can be a little startling. However, there are a few ways to approach this problem. Continue reading

Posted Sep 27, 2018 at Ken Kossoff - Estate Planning Blog

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Find Out First: Early Withdrawal Penalties May Not Apply

The phrase is heard so often, that we can repeat it without much prompting: “early withdrawal penalties may apply.” But sometimes, the penalties are worth it, and other times, penalties don’t actually apply. Continue reading

Posted Sep 19, 2018 at Ken Kossoff - Estate Planning Blog

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Top Ten Ways to Lose Your Retirement Savings

It doesn’t matter if you’re just starting to save, or already enjoying being retired, there are common mistakes that people make that put their retirement nest eggs at risk. Continue reading

Posted Sep 18, 2018 at Ken Kossoff - Estate Planning Blog

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What Should Never, Ever Be in Your Wallet

We’ve all done it—reached into our handbag or into a pocket for a wallet that isn’t there. Was it stolen, did we leave it on a checkout counter or in a taxi? Did a pickpocket get it? Continue reading

Posted Sep 14, 2018 at Ken Kossoff - Estate Planning Blog

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What You Need to Know About Employee Stock Purchase Plans

An Employee Stock Purchase Plan, or ESPP, allows employees to purchase stock in their company for a discounted price. Just don’t put all of your eggs in one basket. Continue reading

Posted Sep 13, 2018 at Ken Kossoff - Estate Planning Blog

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How Will Aging Parent’s Needs Impact Your Family?

We like to think money doesn’t matter when it comes to the ones we love, but if an elderly parent should need skilled nursing care and has no resources, the family will need to know what’s coming next. Continue reading

Posted Sep 12, 2018 at Ken Kossoff - Estate Planning Blog

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Get These Documents in Order for Your College Student

By now, the dorms are filled, and a new fall semester is underway. However, you can still take care of these often-overlooked details for your college student. Continue reading

Posted Sep 11, 2018 at Ken Kossoff - Estate Planning Blog

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Social Security Primer for Widows or Divorced People Who Remarry Late in Life

If you marry again in your 50s or 60s, you need to be aware of how your new marital status will impact your Social Security benefits. If your benefits are based on your late spouse’s considerably higher earnings, you might see a drop in your benefits, if you remarry. Continue reading

Posted Sep 10, 2018 at Ken Kossoff - Estate Planning Blog

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Wealthy Kids Unappreciative? You’re Not Alone

While this isn’t true in all wealthy families, the hard work that it took to achieve financial success is not always appreciated or valued by children or grandchildren. Can that be changed? Continue reading

Posted Sep 7, 2018 at Ken Kossoff - Estate Planning Blog

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Can a Non-Citizen Spouse Have an Estate Plan?

In today’s global world, it’s not unusual to have a spouse who is a citizen of another country. If that is your situation, there are some estate planning rules that are different. Continue reading

Posted Sep 6, 2018 at Ken Kossoff - Estate Planning Blog

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Advance Planning for Diminished Capacity

We all know someone who was smart and capable and then, maybe as a result of dementia or an accident, became incapacitated. It’s a frightening thing to consider, but advance planning can help you and your loved ones. Continue reading

Posted Sep 5, 2018 at Ken Kossoff - Estate Planning Blog

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How Medical Expenses Impact Retirement

When planning retirement expenses, couples need to take an honest look at their expected health expenses during their later years. Even if one person is healthy and the other has chronic illnesses, the costs will impact both. Just because one is well and healthy at age 65 does not necessarily mean that their good fortune will last. Illness and injury can strike at any time. Continue reading

Posted Sep 4, 2018 at Ken Kossoff - Estate Planning Blog

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New Scams for Seniors: Be Warned!

People think they are doing the right thing by planning for the future, and they are—but you have to be careful who you let handle assets. Many new scams are focused on estate planning for seniors. Continue reading

Posted Sep 3, 2018 at Ken Kossoff - Estate Planning Blog

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Just in Case Happily Ever After Isn’t, You Need a Prenup

Most people go into marriages thinking they will be forever. However, the hard truth is, about half of American marriages end in divorce. With those odds, your best bet is to have a pre-nuptial agreement. Continue reading

Posted Aug 27, 2018 at Ken Kossoff - Estate Planning Blog

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Siblings Say Celebrity Chef DiSpirito’s Draining their Grandmother’s Estate

He might be great in the kitchen, but Rocco DeSpirito’s own brother and sister say he’s draining their grandmother’s estate and pocketing the cash. Continue reading

Posted Aug 23, 2018 at Ken Kossoff - Estate Planning Blog

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Timing Inheritance for Their Own Good

Having an estate plan forces you to ask many important questions, and one of them is when the right time is for your children to have access to their inheritance. The answer is different for every family. Continue reading

Posted Aug 22, 2018 at Ken Kossoff - Estate Planning Blog

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Understanding the Difference Between Alzheimer’s and Dementia

While Alzheimer’s is the most common form of dementia, accounting for an estimated 60-70% of all cases, there are other types of dementia. High blood pressure causes the second most common form, vascular dementia. Continue reading

Posted Aug 21, 2018 at Ken Kossoff - Estate Planning Blog

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Married Women Can (and Should) Prepare for Being on Their Own

It’s easy to become complacent about household finances, if your spouse handles everything. That’s why it’s so important for both partners to be involved with bills, investments and estate planning. Continue reading

Posted Aug 20, 2018 at Ken Kossoff - Estate Planning Blog

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Robin Williams’ Artwork, Memorabilia and More Set for October Auction

A portion of the proceeds from auction of Williams and his former wife’s collection will benefit a number of causes that were important to them. Continue reading

Posted Aug 16, 2018 at Ken Kossoff - Estate Planning Blog

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After College and Before Their First Apartment: A Time to Enjoy Your Almost-Grown Kids

You sent them off to kindergarten, then to college. Now they’re back home, but before long they will start their first job and start looking for their own place. Use this time wisely. Continue reading

Posted Aug 15, 2018 at Ken Kossoff - Estate Planning Blog

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Would a Joint Bank Account Work for You and Your Parents?

After a few months of buying Mom and Dad’s groceries and transferring money between accounts, it seems like it would be easier just to create a joint checking account. Not so fast! Continue reading

Posted Aug 14, 2018 at Ken Kossoff - Estate Planning Blog

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What Should You Do When the Diagnosis is Just Plain Bad?

There’s no way to be prepared for a bad diagnosis, but when it happens, you still need to take care of the financial and legal aspects of your life -- and take care of yourself as well. Continue reading

Posted Aug 13, 2018 at Ken Kossoff - Estate Planning Blog

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Why Estate Planning is So Important

You don’t need to be wealthy to create a financial disaster for your family. Not having a will or other estate planning documents, could wreak havoc on their budgets and make their lives stressful. Continue reading

Posted Aug 10, 2018 at Ken Kossoff - Estate Planning Blog

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Here’s Big Five Medicare Mistakes to Avoid

People coming close to retirement age often dread the whole idea of applying for Medicare, and it’s understandable. Medicare seems complicated, and any mistakes could be expensive. Continue reading

Posted Aug 9, 2018 at Ken Kossoff - Estate Planning Blog

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