Did you begin collecting your social security benefits sooner than you actually needed to? If you did this means that you could be affecting the amount of benefits that you are going to be receiving later in life. Fortunately there is something that you can do. It is called a Start Stop Start strategy that [...]
Retirement is expensive and tricky. Balancing an income from investment accounts, pensions and retirement funds takes a steady hand and some knowhow. Don’t fall prey to these common mistakes and put you and your spouse in a bad financial situation when you need your money the most. […]
Many seniors believe that they simply don’t have time to continue investing like they did earlier in life. This is simply not true. While it might take a little more finesse than in previous years there is plenty of time to let the money that you have work for you. Here are some tips for [...]
If you are looking to come in to the Stano Group’s offices to have an elder planning discussion, you might want to prepare ahead of time. Here are some things to bring with you when you are ready to sit down to prepare your elder planning documents. A List of Names You are going to [...]
Generally speaking, retirement funds are protected assets when a person files bankruptcy. This generally means they cannot be taken away as part of a bankruptcy. What about a situation where you leave an IRA to a beneficiary who has filed bankruptcy. The Law May be Unclear The rulings can vary from state to state but [...]
The sudden death of a loved one is hard to deal with. This can only be compounded by your loved one not having a life insurance policy. What if the death occurs after the underwriting of the policy but before the policy is delivered. This is where a conditional receipt can come into play. What [...]
Having someone that can act for you when you are unable to is the whole reason for drawing up a power of attorney. Are you in danger of having your representative not be allowed to speak on your behalf with some agencies? Banks, investment houses and other agencies may not accept your representative due to [...]
It may seem like a great idea to give your home to your kids or other relatives. It reduces the tax burden you have to pay, you can still live there, and you are giving an asset to your loved one for the future. There are a few reasons you may consider before gifting your [...]
Many retirees rely on Social Security as their main source of income in their retirement years. In order to do this, here are some tips to maximize your Social Security Benefits. Wait Until 65 While it might be tempting to start cashing in when you are first eligible for benefits, resist that urge. The federal [...]
It may be an unpleasant topic to tackle, but none of us will be here forever. If you do not have a will, then you leave it up to the courts to decide where your assets go after you are gone. This is done without any consideration to what you may have wanted or what [...]