One of the biggest complications in estate planning for digital assets is that the law is still catching up to technology. The Uniform Law Commission has worked for the past several years on a law that could solve that. A recent Investment News article, “New Bill Aims to Ease Access to Online Accounts after Client’s Death” looks at some of the implications of the proposed law.Read More
It’s fun to look at this top ten list from Kiplinger, which examines all 50 states and considers the most important factors for retirees. In “10 Best States for Retirement,”economics and the health of the state’s population are the leading indicators. These top ten are good starting points for a conversation about where you’ll want to live during your retirement years. If you have family—especially grandkids—in any of these states, you might want to seriously consider a move.Read More
In “Survivorship Life Insurance Useful for Estate Planning,” Insurance News explores how this kind of policy works in an estate plan to benefit heirs or to help make a charitable donation. As the name implies, proceeds are not paid until the last survivor passes—typically a surviving spouse.
This is a real advantage for lower pricing. In many marriages, another benefit to consider is the benefit to a female spouse. Statistically, women tend to outlive men and this fact is reflected in lower premiums, meaning you could buy twice as much face amount in a survivorship policy as you could in an individual policy for the same amount of money.Read More
Many parents of children struggling with addiction or mental illness are focused on caring for their children and some may have thought about who will care for them after they’re gone. The New York Times article “For Parents with Troubled Adult Children, Financial Hurdles Abound” looks at a few of the concrete steps parents of addicted children can take that won’t unintentionally enable an addiction.Read More
This is a story that any professional working with seniors finds particularly abhorrent. An investigation by the New Jersey State Police and the Division of Criminal Justice uncovered a scheme by a New Jersey woman, her sister and several others—including an attorney—to steal millions from elderly clients they were supposed to be helping. The story was reported by New Jersey 101.5 in “NJ woman pleads guilty to scamming millions of dollars from the elderly.”Read More