Blog Posts

Although retirement should be a priority throughout your lifetime, when children leave the house, financial priorities tend to become more focused on preparing for retirement. At this stage, you may very likely be at the height of your earning potential and fast approaching peak savings as you lay the groundwork for retirement. During this final leg toward retirement, and throughout your retirement years, wealth protection is critical.

The preservation of your assets may not be solely a function of your financial planning and investment strategy but may also include a comprehensive insurance approach to protect you against an array of financial risks, most especially health care.

In addition to wealth protection, you may also now be seriously contemplating a number of important estate and legacy objectives.

When a family member passes away, there are many decisions that need to be made and many emotions to handle. The last thing anyone thinks about is taxes.

Unfortunately, even the deceased can’t escape taxation. If the departed family member earned taxable income during the year in which they died, then federal taxes may be owed. An executor or a survivor must, therefore, file a final federal income tax return (Form 1040).

Similarly, if the deceased individual had a sizable estate or assets that might generate income in the future, the estate may owe taxes. Federal estate tax forms pertaining to the decedent’s estate may need to be filed (Form 1041, Form 706).

By Dena Fischer

When my parents died within four months of each other I was left reeling by the loss, and I also knew there would be a lot to handle. Before they passed, I knew that I would inherit the house we had moved into when I was 15 years old; a lovely ranch with a full basement, next door to a horse farm. In the “country,” but just minutes from grocery stores, banks, post office and restaurants.

It was also full of stuff accumulated over a lifetime and needed a drastic update.

By Dena Fischer

There is no doubt that the loss of a parent is a life event that leaves a lasting gap in the emotional framework of your life. Losing both in a short period of time is a devastating experience, as I can personally attest. I lost both my parents during the pandemic, not as a result of it, they just both had health issues that finally caught up with them.

By John Fales

When dementia impacts someone you love, their safety becomes a high priority. Making sure the home they live in doesn’t add to their confusion or cause additional harm is an important consideration.