Counsel & Advice From Top New Mexico Estate Planning & Elder Law Attorney
Today, so many aspects of our lives are managed virtually. We keep currency, photos, music, documents, bills, medical records, artwork and even our social lives online or ‘in the cloud.’
As retirees live longer, many worry about outliving their savings. However, many older Americans haven’t planned for a looming expense: the cost of long-term care.
When moving to a new state, you may have to sever some or all of your ties to your former state. Half measures can leave you open to tax claims by your former home state.
As you’re making your estate plan, you’ll want to carefully consider everything. This means it may take a while to complete your plan. Here are five things to watch out for along the way.
There are many stories of strange conditions in wills and trusts over time. For example, the German poet Heinrich ‘Henry’ Heine died in 1856 and left his estate to his wife, Matilda, on the condition that she remarry, so that ‘there will be at least one man to regret my death’.
Should we take Medicare or keep an employer health plan?
For many, there are potential benefits to continuing a life insurance policy or purchasing certain types in retirement, when it comes to taxes, estate planning and long-term care. Here are some ways to use a life insurance policy that you may not know about.
If you think saving for retirement is complicated, try figuring out how to withdraw retirement funds while minimizing taxes.
As we enter into a new era of tax code proposals from the Biden administration, it’s important to be thinking about what those changes may mean when planning for the upcoming tax season and retirement.
For the average recipient, the 2021 monthly increase doesn’t even cover a fill-up at the gas station — but it beats nothing.
