When you’re building your investment portfolio, you should always be sure to have some diversity in your accounts. This means spreading your savings over different types of accounts in a variety of sectors and with various levels of risk. One of these investment options is the U.S. Savings Bond. Is this a good investment for you? Let’s look at a couple of the benefits to find out. Savings bonds are relatively low-risk because they’re back by the U.S. Government, meaning that Uncle Sam is … [Read more...] about Is a US Savings Bond a Good Investment for You?
With so many do-it-yourself forms on the market, it might be tempting to write your own Last Will and Testament. But while you may think you’re saving a little money by doing it yourself, it could end up costing your loved ones greatly in the long run. For starters, do-it-yourself forms are generic in nature – they have to be in order to appeal to the masses. But let’s be honest: your estate is anything but generic. Maybe you have a disabled dependent who will need special care after you’re … [Read more...] about Why You Shouldn’t Write Your Own Will
There are many ways to protect your assets but to do that, you’ll need to have a clear idea of where you want to end up in terms of your financial future. What are your financial goals? And, how can you protect all that you’ve worked so hard for? Retirement Plans are a great way to protect your assets in your later years. These can take the form of individual retirement accounts, salary reduction simplified employee pension plan; and the savings incentive match plan for employees. These … [Read more...] about How Can You Protect Your Assets?
In addition to providing for your heirs after you’re gone, many people also want to leave money or assets behind for their favourite charities. But before you bequeath those assets in your Will, consider these options. A Charitable Remainder trust allow the assets to be given to the charity while you, the grantor, continue to use and receive profits from the property. Upon your death, your beneficiaries will continue to receive those profits for a specified period of time, while the charity … [Read more...] about Two Ways to Leave Money to a Charity
Nursing home abuse continues to be a growing problem in the States. But even when abuse is suspected, many patients hesitate to report it because they fear the abuse may get worse. Other patients aren’t able to speak out on their own behalf, due to physical and/or mental disabilities. So, how can you tell if your loved one is being abused? Some physical signs of nursing home abuse include: Any type of unexplained bruising, burns, broken bones, etc. When you notice these injuries they … [Read more...] about What Are the Signs of Nursing Home Abuse?
There are many different types of trusts, but they all fall into two basic categories: revocable and irrevocable. What’s the difference? The terms of a revocable trust can be changed and even revoked at any time. You can continue to maintain complete control over the assets in the trust and also continue to benefit from any income generated by those assets. There are no tax advantages, however, because the assets are still considered part of your estate. A revocable trust turns into an … [Read more...] about What’s the Difference Between A Revocable and an Irrevocable Trust?
Since a trust does not go through probate, the process for settling an estate is a little different what you’d expect when there’s a Will. If you’re the Successor Trustee, and especially if you’re the spouse, this can be a little intimidating, and certainly emotional. The first step is to call your estate planning attorney. He or she has done this before and will be able to guide you every step of the way. You should set up an appointment with your attorney for approximately three weeks … [Read more...] about What Happens to a Revocable Living Trust When the Trust Maker Dies?
A lot of people wonder what the big deal is about estate planning attorneys. After all, can’t any lawyer draw up a will? Technically, yes; but you probably need an estate planning attorney for anything more than a very simple will. And that’s the thing: you probably need more than a simple will. So, the first question really is, “Why do I need an estate plan?” A solid estate plan can help you accomplish all kinds of things beyond just passing on your assets through a will. It can help you … [Read more...] about Why Do I Need An Estate Planning Attorney?
Did you know that you do not have to buy funeral packages from your funeral home? Whether you plan your own funeral in advance or you have to plan the funeral of a loved one, you should know that you have rights in regards to funeral services. The Funeral Rule is a law monitored by the Federal Trade Commission. Understanding your rights when purchasing funeral goods can save you money and allow you to only get the services you wish to have. Getting Prices The Funeral Rule requires a funeral … [Read more...] about What is the Funeral Rule?
Although you might no longer live at home, you still have rights as a nursing home resident. Unfortunately, many seniors either aren’t aware of these rights or don’t understand what to do when these rights are infringed. Here’s just a few of the most important rights you or your loved one is entitled to. Rights Regarding Personal Freedom As a nursing home resident you have the right to your own personal freedom. This means you are afforded the same rights every other citizen has in their home. … [Read more...] about What Are Your Rights As A Nursing Home Resident?