Retirement Watch Weekly
Durable Power Estate Planning Essentials
Consider which specific powers to give, including making tax-free gifts for Estate Planning. Be sure you have documents that all your financial institutions will accept. Consider keeping all copies with your attorney until needed. Name at least one alternate attorney-in-fact. Review and update the documents every few years. […]
Should you make Direct Gifts to Family to Cover Education Expenses Part of Your Estate Planning Strategy?
Giving directly to adult children or to grandchildren might not be the best strategy to help pay for education expenses. Direct gifts might deny your adult children tax breaks that are available to reduce the after-tax cost of education. Many of these tax breaks were created in the last few years, so even professional advisers […]
The Resurgence Of Prepaid Tuition Plans For Estate Planning
Those long-neglected, unsexy prepaid college tuition plans are making a comeback. In recent years they took a back seat to the stock market and Section 529 college savings plans. My state of Virginia announced, however, that over the last year applications to its older prepaid tuition plan soared while contributions to the college savings plan […]
The Secrets Of Annuity University Exposed
My readers are likely to hear numerous pitches for annuities. Americans over age 50 are prime sales targets because they have the money. This age group has more wealth than any in history, and many are susceptible to pitches that promise to preserve that wealth. Few annuities are appropriate for older Americans, yet annuity sales […]
How To Beat The Broker Fee Increases
You need to find the broker most suitable for you. Most brokers are reacting to the bear market by imposing higher fees on some investors. Each broker is seeking a particular type of client instead of trying to please the whole market. Find the broker that wants your type, and the fee increases won’t chip […]
How To Use Safe Deposit Boxes for Estate Planning?
Safe deposit boxes are among the most misunderstood and improperly used tools in Estate Planning. The ways many people use safe deposit boxes can cause more problems than they solve. A safe deposit box usually is not the place you want to keep a will or other valuable documents, especially those that are necessary to […]
Estate Planning Strategies to Make Your IRA Last Longer
Note: This article is an update of the article in the September 2001 Estate Watch and should be read together. Click here. You now can make your IRA last longer than ever. Thanks to final IRS regulations, account owners over age 70 1/2 are required to take less out of their IRAs or other qualified […]
How to Save Money with Prescription Plans?
Prescription drugs are more numerous and more important to health care. Unfortunately, buying them is getting more confusing. Unlike the early days of Medicare, today drugs are the prime treatment for many diseases and conditions. Often, diseases are treated or controlled by taking medication for life. Drugs are a big reason why, despite an older […]
