Grandkids off to college? Tips on helping them pay

Posted by Gerald J. Turner – Many grandparents want to help their grandchildren pay for their education. However, the cost of a college education is on the rise, making funding a student’s education a real sacrifice, especially for those moving toward retirement or living on a fixed-income. College financial-aid and student loan regulations are also changing rapidly, and qualifying for need-based financial aid can be tricky. That’s why it is important for students, parents, and grandparents to be on the same page about funding a young person’s college experience. Here’s how to help the student while still getting the most out of need-based aid: 1. Take advantage of a parental 529 savings plan, but make sure it belongs to the parent or student. If you’re thinking about helping a student pay for college, then you have probably heard of a 529 plan. If a 529 belongs to the parent or

The rise of the “Gray Divorce” – Things you should consider

“‘Til death do us part,” says the traditional wedding vows. However, we all know that it isn’t always that simple. More and more people are opting to get divorced at a mature age. In fact, of all of those who went through a divorce in 2009, 1 in 4 individuals was age 50 or older according to a paper written by two sociologists at Bowling Green State University. While the logistics and mechanics of so-called “gray divorce” are legally similar to that of a younger couple, there are usually special factors, most of them money-related, that need to be considered. First is the issue of alimony, sometimes called spousal support. Judges are, for multiple reasons, far more likely to grant alimony to the spouse whose current financial situation and earning potential is the weakest. Another issue is the length time alimony payments must be made. While a younger worker whose

4 easy ways to save more for retirement

Posted by Gerald J. Turner – No adult likes to feel like they can’t take care of themselves. One of the unfortunate truths of growing older is that many of us will not be able to get along without a little help. It’s important to have a well-structured, detailed financial plan in place as you prepare for retirement. One of the most important ways to prepare for retirement is also one of the simplest: save more cash. For many of us, finding more dollars to stash into our savings can be difficult. But by saving a little extra each month, you will be more financially secure as you move toward retirement and beyond. Here are a few simple reminders of ways to step up your savings game: 1. Automate your savings. For many of us, several important expenditures come off the top of our paychecks before we even see it.

Financial Planner vs. Financial Advisor – what’s the difference?

Posted by Gerald J. Turner – At first glance, the terms “financial advisor” and “financial planner” may seem interchangeable. However, when seeking the advice of a financial professional, it’s crucial to know which type of expert you need. Here is a quick overview of each professional, what they offer, and which one you need: Financial Advisor A financial advisor is a generic, broad term for a person who can help you manage your finances. Advisors can help with managing your investments, buying or selling stocks, or give general tax or budgeting advice. Advisors should hold a Series 65 license which is earned by passing the Uniform Investment Adviser Law Exam. This test covers legal issues, regulations, ethics and fiduciary duties, as well as portfolio management best practices and strategies. However, the National Association of Personal Financial Advisors, claim there are more than 100 different certifications available that a financial advisor

When Aged Parents Refuse to Discuss End-of-Life Care

Posted by Eric P. Rothenberg – No one likes to discuss their own death, as if talking about it will somehow hasten it, or not talking about it might prevent it from happening! By encouraging your parents to prepare for the end of their lives, you are not only acting as a responsible and loving child, but you are saving time, money, and heartache for yourself and the rest of your family. All parents want to leave their children as much as they can as a legacy, and that’s precisely why estate planning is beneficial to them as well. A short answer: if they become incapacitated before signing a durable power of attorney or their will, you are out of luck and their estate will pass under intestacy laws [when there’s no will]. In approaching your parents next time, it may be best to remind them that while making end-of-life

Estate Planning Articles

Grandkids off to college? Tips on helping them pay

The rise of the “Gray Divorce” – Things you should consider

4 easy ways to save more for retirement

Financial Planner vs. Financial Advisor – what’s the difference?

When Aged Parents Refuse to Discuss End-of-Life Care

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© 2024 by Orsi Arone Rothenberg Turner, LLP. All rights reserved.

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Estate Planning Articles

Grandkids off to college? Tips on helping them pay

The rise of the “Gray Divorce” – Things you should consider

4 easy ways to save more for retirement

Financial Planner vs. Financial Advisor – what’s the difference?

When Aged Parents Refuse to Discuss End-of-Life Care

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How Can We Help?

© 2024 by Orsi Arone Rothenberg Turner, LLP. All rights reserved.

Attorney Marketing by Bardorf Legal Marketing

Have A Question?