The answer to that question is, no. Outstanding debts will still need to be paid even after your death, but who is liable for paying the debts depends on the types you left behind. Persons who have joint ownership of property with a deceased debtor, or persons who co-sign on certain debts are responsible for [...]
In 2009, DuPont was sued by the estate of a deceased employee for retirement plan benefits that the company had distributed to the deceased's ex-wife upon the employee's death. Although the ex-wife allegedly waived her rights to the benefits, DuPont had honored the deceased employee's retirement plan beneficiary designations--which were never updated--that listed his ex-wife [...]
Determining how much money you will need for retirement requires assessing your current financial situation to see if you're off to a good start--or not. You want to save enough retirement money for you to maintain your standard of living. How much you need depends on when you want to retire, what you anticipate your [...]
Long gone are the days when you could look forward to living on a nice pension and Social Security when retired from the workforce. These days only federal and state employees can count on retirement income from a pension. The rest of us have to rely on good old-fashioned savings, especially since we can no [...]
When aging adults and their families are faced with planning for their long term care, issues such as legal documents, financial matters and care planning can become extremely stressful. Expert legal advice can help alleviate the burden and if often the key to solving many problems associated with formulating a long term plan. Elder law [...]
Before you hire an investment advisor, it is important for you to understand how they will get paid. This same understanding is true for financial planners and stockbrokers as well. Generally investment planners are paid in any of the following ways: An hourly rate for the time they are working on your financial plan. A [...]
Before hiring a financial planner or an investment advisor, you should make sure to ask questions and review their background. Listed here are some important questions that you can ask. How are you paid for your services? What is your typical hourly rate, flat fee, or commission? What licenses do you hold? Are you registered [...]
While most financial planners are investment advisors, not all investment advisors are financial planners. Financial planning is the process of meeting your goals for your life with proper management of your finances. These goals can include buying a home, saving for future education for your children or planning for retirement and long term care. Financial [...]
An individual or firm that provides you with advice by making recommendations regarding securities or securities markets is known as an investment advisor. They receive funds in exchange for their advice. Some investment advisors will also manage portfolios of securities. Examples of securities are: Stocks (ownership in a publicly-traded corporation) Bonds (creditor relationship with governmental [...]
If you are looking for assistance in planning for your long term care, or for the care of your aging parent, an elder care financial plan is exactly what you need. This plan will help you to determine how you will pay for your home care, assisted living or nursing home costs. Elder care lawyers [...]