Perhaps you have heard from a friend or associate that you should start looking into Social Security income. Many people aren’t aware of what Social Security is and how they should go about obtaining these funds. This article will explore what you need to know about receiving your Social Security income. What is the Goal…
Is a trust better than a will for you?
Trust and will preparation can be a potentially emotional subject, as it deals directly with estate planning—and estate planning generally means we must confront our own mortality, which few people find to be a pleasurable task. Trust and will preparation must be tailored to your personal and particular situation because what is right for you…
When to hire an attorney
A legal referral may end up being a necessity in your life as you get older and end up dealing with a number of issues which had never come up before. An elder care attorney can help you legally and successfully deal with these issues, so if you are wondering whether it is time to…
5 things you should know about probate and wills
The vast majority of probate cases revolve around Americans who are age 60 and over, so seniors need to be especially cognizant of probate and wills and all the issues surrounding them. Many of us are a little fuzzy on exactly what probate is although for general purposes it is the process which disposes of…
10 Things You Should Know About Working with Living Trust Attorneys
Living trust attorneys can help you set up a legal document which allows you to transfer ownership of your assets to the trust. Trust and will preparation, properly set up by a living trust attorney, allows your estate to avoid probate, preventing the courts from controlling your assets should you become incapacitated, and giving you…
Tips for Avoiding Probate Using Probate Lawyers
As most probate lawyers will tell you, unless you have your estate planning attorney prepare a living trust, there are very few ways to actually avoid probate altogether. Probate is the legal process by which the courts oversee the distribution of your assets as outlined in the instructions in your will. However if you leave…
Is a Reverse Mortgage for Seniors for You?
Unfortunately, many senior homeowners have seen large chunks of their retirement disappear, making a reverse mortgage for seniors something they may need to consider. Of course the shaky economy has hit people from all walks of life, but often seniors on a fixed income who may be unable to find work are hit the hardest….
Senior’s Reverse Mortgage Alternatives
One of the hottest topics among retirees appears to be a senior’s reverse mortgage. Assuming you are at least 62 years old and owe little to nothing on your home, you are likely eligible for a reverse mortgage which comes through the FHA and is typically known as an HECM, or Home Equity Conversion Mortgage….
Answers to the most often asked questions about retirement Social Security
Many seniors who are headed toward retirement Social Security have lots of questions about how—and when—to apply. The following answers may help you determine when you can realistically expect to retire and how well you will be able to maintain your senior home. History of Retirement Social Security Following the Great Depression, poverty among seniors…
Top 10 tax preparation tips
Whether seniors pay for their tax preparation or go the do-it-yourself route, there are many important tax issues which are easy to miss or to be unaware of. The following 10 tax tips include those that are the most easily missed and frequently encountered tax preparation issues. Because the current $5 million federal estate tax…