Category: Estate Planning


Study Shows Fewer People Have Wills Today

Study Shows Fewer People Have Wills Today Have you skipped out on creating a will? What about a power of attorney or a living trust?  You might assume you don’t need these documents, but as anyone who has dealt with an incapacitated or deceased loved one can tell you, the failure to have these documents

What are the Most Important Things You Need to Remember to Do After a Loved One Dies?

What are the Most Important Things You Need to Remember to Do After a Loved One Dies? Coping with grief and working through all of the necessary administrative steps to figure out what comes next after a loved one passes away can easily become overwhelming. It can be difficult to get your bearings, but it’s

  • Clifford M. Cohen,
  •   Estate Planning, Wills
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What’s the Connection Between Your Retirement Planning and Your Estate Planning?

What’s the Connection Between Your Retirement Planning and Your Estate Planning? Your retirement planning and estate planning are linked. When thinking ahead about your retirement, it’s important to consider important key estate planning documents, such as a power of attorney to enable another person to make financial decisions on your behalf. This might inevitably lead

Estate Planning Fits into Every Stage of Your Life

Estate Planning Fits Into Every Stage Of Your Life Most people consider estate planning to be of utmost importance for those of older ages who are more likely to pass away or to cope with disability-related issues. However, estate planning is applicable to every person at every stage in life and pretty much everyone can

  • Clifford M. Cohen,
  •   Estate Planning
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The Gift that Keeps on Giving: A College Education

The Gift that Keeps on Giving: A College Education According to a 2018 report by the Federal Reserve Bank of New York, some 44 million Americans have a combined student loan debt of more than $1.4 trillion. The average student debt is over $33,000, while roughly 2 percent of borrowers owe more than $100,000. Given

How the Secure Act Could Impact Your Retirement Plan

How the Secure Act Could Impact Your Retirement Plan   The Setting Every Community Up for Retirement Enhancement (SECURE) Act was passed by the U.S. House of Representatives on May 23, 2019. If the bill passes the Senate and is signed by President Trump, it could impact the way workers plan for retirement and manage

Why Banks and Other Financial Institutions Sometimes Refuse a Financial Power of Attorney

Why Banks and Other Financial Institutions Sometimes Refuse a Financial Power of Attorney   You finally convinced your aging mother to execute a financial power of attorney (POA). You worked together to plan for the unexpected and thought that you had all your bases covered. Unfortunately, now your mom has become incapacitated and the bank

  • Clifford M. Cohen,
  •   Estate Planning
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When Should You Start Taking Your Social Security Benefits?

When Should You Start Taking Your Social Security Benefits? Most advisors recommend waiting as long as possible to begin collecting Social Security benefits. Of course, every situation is unique. The best time to take Social Security benefits is not the same for everyone. You must consider your particular financial needs, health, post-retirement plans, and more

  • Clifford M. Cohen,
  •   Retirement Planning
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Don’t Let the Fear of Gift Taxes Stifle Your Generous Spirit

Don’t Let the Fear of Gift Taxes Stifle Your Generous Spirit Have you ever considered gifting a loved one cash or property but held back because you were worried about federal gift taxes? Here’s why you shouldn’t let that stop you next time. True, the IRS can impose a gift tax on the transfer of

  • Clifford M. Cohen,
  •   Estate Planning
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Protect Your IRA for Future Generations

Protect Your IRA for Future Generations Chances are, your IRA represents one of your most valuable assets. It is relatively safe from a wide range of threats while you are alive. However, this changes when you pass your IRA on to heirs. While your spouse will continue to enjoy certain protections, IRAs passed on to