Articles Tagged with Madison Estate Planning Lawyer

person-731423_640-300x200“Over 30 years ago, researchers and geriatricians identified an “elder orphan” (sometimes called a “solo ager”), as a person aging alone with little support.”

Little is known about “elder orphans,” people who don’t have parents, a spouse or family members. Decades ago, when families stayed closer to each other, a single or widowed person would remain connected to the extended family throughout their lives. However, today, as reported in Next Avenue’s insightful article titled “Identifying the Unique Challenges of Solo Agers,” many without families lack support and their needs are different than others aging at home. Continue reading

clinic-1807543_640-300x216“Are you ready for the end of life? Many of us can resolutely answer “no.” I am not implying preparation for life after death, salvation or eternal darkness—I simply mean forethought in the medical care that you wish to receive in a life-threatening illness or injury.”

When most people think of preparing for the end of their lives, it’s accompanied by an image of an elderly person surrounded by loved ones. Not everyone is lucky enough to have what we call a “good death.” Continue reading

old-83952_640-300x225“High-profile charges of financial elder abuse raise troubling questions. Here’s how to protect yourself and your family.”

Stories of two high-profile elderly Americans have shone a harsh light on the issue of financial elder abuse. However, the rich and famous are not the only ones who are vulnerable. All families need to know what they can do to protect their loved ones, says AARP in the article “7 Ways to Prevent Financial Elder Abuse.” Continue reading

pocket-watch-3156771_640-1-300x200“The client wanted her surviving spouse to have access to her work email, but her employer shut down the email account following her death.”

This is one of those situations that does not have a happy ending. A woman died unexpectedly, and her employer shut down her email immediately after her death. Her surviving spouse knew that the woman had wanted him to have access to her emails, but it was too late. Continue reading

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“A 401(k) plan ensures that you have money to spend during your retirement years. However, there are reasons why a 401(k) stinks.”

It’s almost always enlightening to hear from a different perspective, even in finance. This article from Born2Invest, “Retirement planning: The downsides of your 401(k),” takes a somewhat contrarian view of retirement accounts in general and the use of 401(k)s in particular. We may not agree. However, it’s worth the read. Continue reading

old-people-couple-together-connected-300x198“If you’re part of a married couple, it’s highly likely that one of you will become a widow or widower at some point. Married couples can ‘show each other the love’ by planning for this inevitability.”

If it’s any comfort, there are now some 20 million widows and widowers in America, according to a study from Merrill Lynch and Age Wave that focuses on widowhood, as reported by CBS News’ Moneywatch in “A retirement planning must-do for married couples.” The study, “Widowhood: The Loss Couples Rarely Plan for—and Should” takes a detailed look at what happens, when the first spouse dies. Continue reading

pexels-photo-796606-300x194The 50s are the time of life when your kids are starting to become more independent and may have already moved out. If that’s true, you may have a little more disposable income. That presents a good opportunity to ramp up your retirement savings, advises Sioux City Journal in the article “In Your 50s? Do These 3 Things to Plan for Your Retirement.” Continue reading

hand-2906456_640-300x223Aging in place is what most people hope for as they enter their 60s and 70s.  However, to make it a reality, there is a need to plan, according to the article “BBB On Homes: Focus on several things when aging in place,” from LMTonline.com. The Centers for Disease Control and Prevention define aging in place, as the ability to live in one’s own home and community safely, independently and comfortably regardless of age, income or ability level.

Changes in health or finances don’t always allow this to happen. Here are four things to keep in mind, when considering whether you or a parent will be able to remain at home: Continue reading

pexels-photo-955389-300x200Do not buy into the myth that estate planning is only relevant for wealthy individuals who need tax planning. A comprehensive estate plan is an easy way to make sure your wishes are followed should you become incapacitated, and upon your death.

One of an estate planning attorney’s main responsibilities is ensuring that clients understand the importance of addressing these matters before they become an issue, reports the New Jersey Herald in the article “The importance of putting plans in writing.”

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Trust-300x225You might think of a trust as something for wealthy people who want to dispose of high-end assets, like art work, collectible cars or businesses.  However, just like everyone needs an estate plan regardless of their asset level, says The New York Times in the article, “Life After Death? Here’s Why You Should Have a Trust,” many people who are not wealthy could benefit from having a trust. Continue reading