When devising a comprehensive long-term financial plan, it is important to take steps to protect your assets. Individuals in certain professions are naturally vulnerable to creditors and claimants and, if you do not take action to shield your personal resources, the consequences can be devastating. … [Read more...] about Are Your Assets In Harm’s Way?
Celebrity Estate Planning
There are those who go through life without planning for retirement because they think that everything is already in place. They expect to receive Social Security when they reach the age of eligibility, and they assume that Medicare will take care of their medical expenses. … [Read more...] about Small Increases Would Get Smaller With Chained CPI
Oklahoma's #1 Most Celebrated elder law and estate planning attorneys from Parman & Easterday reveal how good habits can be encouraged with an Incentive Trust. … [Read more...] about Ensure Financial Stability With An Incentive Trust
If you're planning for retirement, you have some decisions to make... one of which is exactly "when" you want to officially retire. For many, this date typically coincides with your eligibility for Social Security, but you might want to think twice before using this strategy. Not only could it prove to be unrealistic, it might also not be in your best interest. … [Read more...] about Studies Indicate Seniors Working Longer
The baby boomer generation is now reaching the age of retirement, and as a result there are thousands of people becoming eligible for Social Security. Many questions are being asked and we would like to address a couple that are frequently asked. How old do you have to be to be able to apply for Social Security? … [Read more...] about When and How Do You or a Loved One Apply for Social Security?
The opportunities for long-term planning solutions for members of the Armed Forces can be quite exciting. It is easy to say that everyone should make sure they are not overly reliant on Social Security. However, military veterans who spend at least 20 years in the service have a very clear-cut path to a comfortable retirement. … [Read more...] about A Look at the Military Survivor Benefit Plan
Elder law attorneys have noticed an interesting trend emerging among senior citizens with regard to marriage. Many of our elders have lost their spouses, and some have gone through divorces. It can be quite uplifting to meet someone new and enter into a committed relationship later in life. Typically committed relationships culminate in marriage. However, statistics are indicating that an increasing number of senior citizens who are involved in live-in relationships are deciding not to get … [Read more...] about Interesting Trend Emerging Among Seniors
Intelligent people stay alert every step of the way with regard to positioning financial assets. Things can change in the blink of an eye and you must be prepared to react quickly and effectively. The estate tax is something that every successful person should be concerned about. Your financial situation could change for the better over the years. It is possible that the estate plan you originally constructed was put into place without concern about estate tax exposure based on your portfolio … [Read more...] about Long-Term Planning: Allow for Changing Circumstances
At Parman & Easterday we like to keep you informed of any relevant changes to the Social Security program because it can play such an important role when you are planning for retirement. Along these lines we recently reported on the fact that paper statements are no longer going out in the mail (click HERE to review that blog). These statements contain valuable information because you really must know how much you can expect to receive when you do start to draw Social Security benefits if … [Read more...] about Social Security Change Being Implemented Next Year
Simply adding someone to your bank account or accounts and assuming that you suddenly have an effective estate plan in place is a mistake. Most people would probably recognize this right away, but you may be surprised at the number of people who are under the impression that this is a viable solution. Owning an asset jointly is a method of holding title. It is not an estate plan. … [Read more...] about A Lot Can Go Wrong When Using Joint Accounts