Also referred to as a conservator or protector. A guardian is named to serve for the benefit of a minor child or an adult who has become incapacitated or is unable to act on their own behalf. The guardian is responsible to the individual requiring guardianship. The role requires patience, compassion and sensitivity. By Definition:…
No one likes to consider the possibility of becoming mentally incapacitated due to age, accident or illness, but the fact is that almost every family will eventually face this kind of difficulty. Everyone should consider naming an agent to act in their best interests, in case they become unable to make their own decisions over…
When a trust is created, the creator of the trust names someone to serve as the trustee and to assume legal ownership of the property funding the trust, which could be cash, securities, real estate or other property. Many times, a friend, family member or loved one is named as trustee for a trust. A…
There are advantages and disadvantages to using a trust as an estate planning tool. Depending on your goals, the use of a trust can be an effective way to achieve your estate planning objectives. Trusts are usually categorized in one of two ways: 1. Inter Vivos Trust (Living Trust) An inter vivos, or living, trust…
Understanding the basics of Medicare A, B and D will help you take necessary steps on schedule. It will also help you deal with problems in the system when you must. Begin the enrollment process in advance of your 65th birthday, or immediately after any other qualifying event, in order to become eligible for benefits…
While market declines, corrections and downturns can be disheartening, they can also be opportunities for investors with workplace retirement plan accounts, IRAs or any long-term investment programs that use dollar-cost averaging. Dollar-cost averaging is a method of investing a fixed amount of money at regular intervals. It works the same for everyone, regardless of investment…
