The 2014 Farm Bill Expired, Now What? The Farm bill covers the country’s agricultural funding, conservation efforts, and food aid. Congress passes a new farm bill every five years. The five-year timeline is triggered by sunset provisions (expiration dates) for specific programs contained in the previous bill. On September 30, 2018, the 2014 Farm Bill…
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Long-Term Care: Planning and Paying for Your Eventual Needs America’s population is living longer, and with longer lives come increasing healthcare needs. When it comes to your future long-term care needs, you have about a 50/50 chance of needing some form of care. Yet, despite the eventuality of long-term care needs, most Americans are wildly unprepared for…
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The Best and Most Practical Financial Advice for Seniors It’s hard work to reach retirement, and you want to spend that time free from financial worries. In order to live comfortably, it’s necessary to understand how you can make the most of every dollar. Here is important information about smart money management for seniors. Cut…
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The 10 commandments of retirement I came across a good, concise, article on retirement that I want to share. It was written by Richard Quinn and appeared on the Market Watch website. (See Richard Quinn, The 10 Commandments of Retirement, Market Watch, August 22, 2018.) The author reminds us that, when it comes to retirement,…
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Which Business Entity Makes The Most Sense For Your Business? We always advise you to consult with a tax advisor, certified public accountant, or business attorney before making the decision to form any business entity, but this article may give you some insight on what options are available. Factors in making this decision may include…
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The Importance of Estate Planning It is estimated that a majority of Americans, perhaps over 60%, die without an estate plan. The importance of having and updating an estate plan cannot be overstated. So why is it that most of us have not done even the basic estate planning that is so important to our…
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Think Twice About Adding Your Children to Your Bank Account or Other Assets I see it often in our practice. When people hear about the cost, delays and potential perils of the probate process, they often just add their children as co-owners on their bank accounts or their residence in order to avoid probate. However,…
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The Veterans Asset Protection Trust The Veterans Asset Protection Trust can be an applicable and beneficial option for many of our elderly clients who are looking for long-term planning options. The Veterans Asset Protection Trust is an intentionally defective grantor trust and can be considered as an option for clients who are wartime Veterans or…
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A New Tax Identification Number is Required for Revocable Living Trust After the Trustmaker’s Death Many of our clients choose to create revocable living trusts as their primary estate planning vehicle to state their wishes for the management of their assets during life and what will happen to the assets after their death. Creating a…
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What Is a Living Will? A living will is a document that allows you to say what should happen if death is imminent and there’s nothing more medically that can reasonably be done. If you are in a hospital and your doctor determines that you are terminally ill with only a short period of time…
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