Every estate plan should have a power of attorney, in which you give one or more people authority to act as agents on your behalf, when you aren’t able to. Every estate planner and guide to estate planning will tell you that. What few will tell you is there are at least two important instances when the power of attorney (POA) won’t be recognized and followed.
On its surface, Social Security seems like a fairly straightforward program. You and your employer pay a tax based on your earnings, while you work. When you retire, you get a lifelong income stream that’s somewhat tied to how much you paid into the system.
One of the best ways to prepare for retirement is to set aside money in a tax-advantaged retirement account. Hopefully, you have done so year after year and built a nice nest egg.
Sophisticated analyses take into account the tradeoff of receiving no income during the deferral period and more income later in retirement.
You’re closing in on retirement, but you’re not there yet. Are you on track?
Though Social Security helps millions of seniors stay afloat financially, living on those benefits alone could mean winding up cash-strapped in retirement.
Although Social Security helps millions of seniors stay afloat financially, living on those benefits alone could mean winding up cash-strapped in retirement.
Finding and elder law attorney is as easy as googling, “elder law attorney near me.” Anyone can find an elderly law attorney but finding the right one is where things get a tad difficult. If you want your elder law case to be in the right hands, then you might have to do a bit of digging.
Retirees have a choice about when to claim their Social Security retirement benefits, but for most people, 62 is the earliest age at which you can start them.
In February, Social Security officials calculated that a woman who was sent monthly checks for decades was 114 years old. The problem? The lifelong New Yorker died more than 40 years ago—and may never have seen a penny of her retirement checks totaling nearly a half-million dollars.
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