Financial Services

Reverse Mortgage Rules are Changing: Two Case Studies

The basic principles of reverse mortgage, technically named Home Equity Conversion Mortgage (HECM – pronounced “heck-um”) are actually pretty simple. It’s a home equity loan that lends between 50%-60% of property value (highest value capped at $625,500), on qualified property types, to age-qualified borrowers and provides flexibility to the borrower…

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The Benefits of Using a Pooled Trust for a Special Needs Child

Parents who have a child with special needs face the challenge of deciding how to leave an inheritance to their child. A sensible way of providing an inheritance for a special needs child is to set up a special needs trust. The Benefits of Using a Pooled Trust for a…

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The Holistic Approach to Estate Planning

As an estate planning and elder law attorney, I strive to find solutions to my clients’ needs and goals. When it comes to elder law issues, my clients typically rely on me for more than traditional legal advice. The Holistic Approach to Estate Planning By Wendy K. Goidel, Esq, Founding…

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Newly Divorced and Don’t Have Time for Paperwork? A Daily Money Manager Can Help

Getting divorced isn’t easy. Acrimonious or not, divorce represents a huge change in well, pretty much everything. Newly Divorced and Don't Have Time for Paperwork? A Daily Money Manager Can Help! By Lewis I Knopf, Certified Senior Advisor (CSA)® & Daily Money Manager at LK Daily Money Management There are…

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Medicare Will Cover My Stay in a Rehabilitation Facility. Mmm, Maybe Not

Consider this. You have Medicare coverage. You’ve been in the hospital for three or four days and your doctor determines that you need to go to a rehabilitation facility (also referred to as a Skilled Nursing Facility – SNF) for further treatment. Medicare Will Cover My Stay in a Rehabilitation…

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Why You May Need an Elder Law Attorney

Who hasn’t heard the old cliché, getting old isn’t for sissies. The truth is that as you age, the cliché becomes more and more accurate. Why You May Need an Elder Law Attorney By Lewis I Knopf, Certified Senior Advisor (CSA)® & Daily Money Manager at LK Daily Money Management…

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Where Will Your Retirement Money Come From?

For many people, retirement income may come from a variety of sources. Here’s a quick review of the six main sources: Where Will Your Retirement Money Come From? By Peter M. Smith, CLU, Principal of Wexford Financial Strategies Social Security Social Security is the government-administered retirement income program. Workers become…

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Addressing Difficult Topics with Mom and Dad

No matter how old you are it seems that you are always your parents’ little girl or little boy. You may even be a senior yourself but in some situations the parent-child relationship remains firmly in place. Addressing Difficult Topics with Mom and Dad By Lewis I Knopf, Certified Senior…

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Money that Buys Good Health is Never Ill Spent

According to a 2012 survey by the Insured Retirement Institute, the average person covered by Medicare will have out-of-pocket medical expenses in excess of $4,300 a year (or $8,600 for a couple). The same report found that 63% of baby boomers lack the confidence that they will have enough money…

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An Education on Pension Maximization

Pension maximization is a financial planning technique that can provide the most amount of pension income while a retiree is alive and assures the income need of the spouse & family are met. An Education on Pension Maximization By Anthony B. Soldano It is a great retirement and income planning…

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Beyond the Will: Why Having An Up to Date Power of Attorney and Health Care Proxy Is Essential

Often times, the motivation to establish an estate plan centers around the desire to put a Last Will & Testament in place, or create a Trust Agreement. Once an estate plan is finalized, many people do not review their planning documents, even if many years have gone by or their…

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