If you’re married or divorced and planning for retirement, you should know that you may qualify for Social Security spousal benefits that can significantly increase your retirement income. However, there are some rules surrounding who can collect spousal benefits and how much money you can receive in spousal benefits. Read on to learn more about
Medicare costs change each year, so if you’re 65 or older, it’s important to understand and review your benefits for the upcoming year. Some new rules affect the cost of prescription drugs covered under Part D (Medicare’s prescription drug benefit) and change the times when you can revise your Medicare health and drug coverage. Medicare
Whether you rent or own your home, the property, as well as its contents, should be protected with insurance. For those who own homes, homeowners insurance can protect the home and the home’s contents. If the home is a rental, the owner of the home would ensure the property, while the renter is responsible for
Many people I meet with ask me if they’ll still need life insurance after they retire. Their children are grown and have good jobs. They have put together a reasonably solid income plan with Social Security, pensions and annuities supplemented by investments and retirement accounts. Their surviving spouse will have plenty of money if they
The estate planning market was originally conceived to handle the distribution of assets (mainly real estate) among the descendants of deceased rich people. There were two objectives to this exercise. Firstly, estate planning helped structure the distribution of wealth among the deceased’s spouse, children and other friends and relatives. The second objective was tax planning.
Many people believe that having an estate plan simply means drafting a will or a trust. However, there is much more to include in your estate planning to make certain all of your assets are transferred seamlessly to your heirs upon your death. A successful estate plan also includes provisions allowing your family members to access or