Retirement Watch Weekly
Making Smarter Estate Planning Gifts to Family Members
Giving gifts isn’t as easy as one might think. It’s not easy, that is, if you want to maximize the value and impact of your gifts. Watching every gift is the tax man, looking to take a piece of it. Even if your estate isn’t likely to be taxable, you should be looking for ways […]
Will Your Children be Required to Pay for Your Long-Term Care?
Many Americans worry that long-term care expenses will deplete their estates and cause them to run out of money. People also should worry that their children and estates might be required to pay for their long-term care, even after they are gone. That’s the trend in both federal and state law. A 1993 federal law […]
Choosing a Medicare Supplement Plan
The limits of Medicare coverage are a surprise to many retirees. Some learn the lesson during their pre-retirement planning. Others don’t find out until they incur medical expenses in retirement. Medicare covers only about half the medical expenses incurred by retirees, according to studies over the years. The specifics vary for each beneficiary, of course. […]
Another Family Business Fortune Destroyed
Quite often someone builds a successful business and it becomes a family business. At least some of the children are active in the business, and all or most of them have ownership interests. But such businesses often don’t make the transition to established, functioning institutions, and that’s because the founder or latest patriarch doesn’t properly […]
More on End of Life Care
The recent report from a panel selected by the Institute of Medicine is spurring some debate about end-of-life-care, powers of attorney, medical directives, and related topics. Here’s an article that summarizes some key points of the report but mostly explains how LaCrosse, Wisconsin was able to establish a program under which about 86% of its […]
Tax-Friendly States for Retirees
Kiplinger’s has sifted through state tax laws and come up with its list of the most tax-friendly states for retirees. You might find surprises. Florida, for example, only comes in 10th. The story also has a link to the 10 worst states for retirees. Be careful when using its list. It only covers how the […]
The Debate About Dying at 75
Earlier I linked to an article by Ezekiel Emanuel arguing that he doesn’t want to live beyond age 75. Here’s a response to Emanuel’s argument, making the case that it is desirable to live longer and that Emanuel probably doesn’t appreciate many aspects of his life today. It is easy for me to see how […]
When Should Children Inherit from Trusts?
Many people put their money in trusts because they know their children or grandchildren aren’t ready to directly control the wealth. The question they struggle with is when money should be released from the trust directly to the beneficiaries. Here’s a succinct summary of the factors that show a person is ready to inherit wealth. […]
