I have been drafting and reviewing wills, trusts, powers of attorney and other estate planning documents for more than 32 years. This week, we will be discussing the top six estate planning mistakes that I have seen while drafting and/or …
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Invest in what you know and understand
Are you confused by all the terminology that is being tossed around in the financial and investing community? If so, today’s column should assist with clarifying some of the baffling language. When it comes to investing, you should stick to …
Caring for your Senior Self
Are you over age 60? Many studies have found a measurable slow-down in physiological systems, both physical and mental, after age 60. Studies have also shown that seniors often believe that they are doing things as well or better than …
Social Security Myths
Last week, I attended the State Bar of Michigan Elder Law and Disability Rights Section 16th Annual Spring Conference in Plymouth, Michigan. One of the presenters at the conference was Daniel D. McHugh, a Certified Financial Planner® and Certified Public …
How a Young Adult can Retire as a Millionaire
Are you or a loved one under age 35? For most young adults, planning for retirement is one of furthest things from the mind. But it shouldn’t be, because young adults have a very valuable asset that those of us …
Three Critical Questions When Planning Retirement
Are you at or near retirement? Or are you in your prime earning years? Or are you just beginning your career? Regardless of where you are in your working life, you should be thinking about retirement. You should start planning …
Get a Second Opinion with Annuities
You may have spent your hard-earned savings on one or more deferred or variable annuities. The likelihood is that they were sold to you as an “investment”. If you are like most annuity purchasers, what you were not told is …
Be Aware of Spousal Pension Options
I am always looking for topics for my column. If you have any ideas for something you would like to read about, please contact me. This week’s topic came from a couple of attendees at our Putting Your House In …
You Don’t Need $1 Million for a Trust
You keep on hearing about trusts. Should you have one or should you not? The most common misconception that we hear on a fairly regular basis is “I don’t have enough assets to have a trust.” I heard it again …
Saving for Retirement with IRAs
Have you been saving for retirement? If not, you are with the majority of American households age 55 and older. According to a 2015 U.S. Government Accountability Office (GAO) report, only 48% of American households age 55 and over have …