Estate Planning Answers

Revise your will. Asset values have changed dramatically. If you had left the family business to your daughter and your house and portfolio to your son, they may now be worth widely different amounts then when you set up your will. Update your power of attorney. A power gives a person you name, your agent, [...]

Q: My boyfriend and I have been married before and we’ve been very good friends for the last year. We have very different financial situations and are thinking about living together. Do you have some financial guidelines for us? – J .& F—California  A: Before you begin your cohabitation, it’s worthwhile to have a frank [...]

Q: How do you deal with independent minded parents that are starting to experience difficulty in taking care of themselves?  –  K.T., South Carolina  A: Addressing aging parents’ care is a very big challenge that’s facing many families today, especially as the baby boomers advance in years and as technology helps us to live longer. [...]

Estate planning is one of the most overlooked areas of personal financial management. It is estimated that over 120,000,000 Americans do not have up-to-date estate plans to protect themselves or their families in the event of sickness, accidents, or untimely death. This costs the affluent and middle classes wasted dollars and hours of emotional hardship [...]

Q: A good friend of ours has some wealth and a young family. We are having a difficult time convincing him and his wife to create their wills. Can you provide us with some good reasoning for having a will? — S.M.R., Tennessee A: The death of a loved one or close friend is tragic enough [...]