by Barry J. Jacobs, AARP
Carol had a big heart — sometimes too big, she thought. She was glad to run errands for her unmarried 82-year-old aunt who suffered from Parkinson's disease. But then her...
Ashlea Ebeling, Senior Contributor, Personal Finance
If you’re laid off in the COVID-19 economy and you’re an older adult, you might be wondering: Am I going to have to take Social Security earlier than I planned? How much will that reduce my monthly benefits in the long run? What...
Upon the death of a family member or friend, there are many details to see to in a short time. The emotions surrounding the loss make level-headed decisions difficult, and, once the funeral is over, there are many financial and legal tasks that must be dealt with. A letter of instruction can...
by Kerry Hannon
Over the next several months, every company in America with workers who spend most of their time on a computer has a decision to make: Which of their employees — the vast majority of whom will have been successfully working from home since March — should...
Q: My mother named her financial adviser and his children as beneficiaries in her will. Is it legal for her attorney to allow this?
A: It is legal, but it raises red flags. In the United States, you can do whatever you want with your money: give it to...
When you open up a 401(k) or IRA account, you will be asked to designate the beneficiaries of your account. The beneficiaries you choose will receive the assets in the account upon your death. Many people choose their spouses or children as the beneficiaries of their 401(k) or IRA accounts. Most of...
Federal law requires individuals to take a required minimum distribution, or RMD, from their qualified retirement plans. The policy goal behind requiring people to take a certain amount of money out of their retirement accounts is so that the IRS can tax income. For example, every time a retiree takes an RMD...
The coronavirus pandemic has been a wakeup call for everyone. Many residents of Southeastern Massachusetts have seen their financial security disrupted. Others have realized that they are not prepared for long-term incapacity should they contract the coronavirus. The coronavirus pandemic has shown that estate planning isn’t just for older individuals or just...
The COVID-19 pandemic has many people finally taking action to fill out advance health care directives, wills and powers of attorney. Here are some tips to help you along the way.
By Sam Nuxoll,
It has arrived: the unexpected, potentially life-threatening circumstance you had in mind when...
A revocable trust and an irrevocable trust serve totally different needs. By Ilyce Glink and Samuel J. Tamkin
Q: I am divorced and have two grown daughters. I am placing my house in a trust. My attorney is recommending an irrevocable trust. Which do you prefer, revocable or irrevocable and why?
