Like most legal undertakings, setting up and enforcing power of attorney (POA) documents can be a confusing process. Yet, these essential tools can help aging adults and their families create a solid plan to address future care needs and gain peace of...
Estate Planning Blog – Surprenant, Beneski & Nunes
How to Talk with Aging Parents About Estate Planning
During a recent webinar, one of the questions we were asked was about how to address the topic of estate planning with your aging parents. It can be a tough topic to bring up as it can be emotional. After all,...
Do Annuities in 401(k)s Work for Retirement Income?
“Proposed U.S. legislation would make it easier for employers to offer annuities in 401(k) retirement plans that provide retirees fixed payments for as long as they live.”
Continue reading…
The role of annuities in retirement planning is one aspect of the Secure Act that...
Preserving and Protecting Your Assets with a Trust
Depending on how they are drafted, trusts can offer a way to leave a legacy, protecting assets while avoiding the costs of probate, as part of your estate planning. Probate is the court process in which assets may...
It Can Be an Unpleasant Surprise but a 401(k) Is Taxable
While it is taxable on withdrawal, the contributions lower your taxable income.
Continue reading…
It turns out as a surprise to some retirees but the withdrawals from a 401(k) are taxable. However, it is important to remember that the contributions are beneficial, because they lower...
Ask Your Parents about Their Financial Plans
When everyone is comfortable, it is time to move forward with discussion.
Continue reading…
The key to learning about the financial plans of your parents, is to ask for advice on your plans and then ask about their plans, according to
Five Devastating Mistakes in Special Needs Estate-Planning
Estate planning is essential for every family, but especially for families with members who have special needs. When a caretaker passes away, there must be a plan in place that provides for the continued care of a special needs individual. Unfortunately, individuals who fail to consult a Massachusetts special needs...
Five Asset Protection Strategies for High-Net-Worth Estates
The main goals for many individuals preparing an estate plan are protecting assets for future generations, reducing estate taxes, and exercising control over how their estate is distributed. For high-net-worth estates, advanced planning is essential to achieve those goals and other goals individuals might have for their estate. A
Focusing on Elder Financial Fraud
Because seniors are particularly vulnerable, they are at a higher risk of being exploited financially. When seniors are forced to manage their own retirement funds while coping with an array of health issues, the potential of being victimized by financial fraud is high. If you or a loved one has been the...
Planning Your Estate After A Divorce
Going through a divorce is a difficult transition that involves a number of considerations, not the least of which is how to divide the marital property. During this trying time, it is important to control your emotions and maintain your objectivity. Once the divorce is settled, it is also crucial to revisit...