Kelly Clarkson’s Blended Family: What She Needs to Consider

Starting a new family is always exciting and even a tad scary. This natural apprehension can be enhanced when a couple creates a blended family. Bringing children from different parents together presents challenges - and those challenges are multiplied when the couple have new children of their own. Former American Idol star Kelly Clarkson recently added a new baby to her family. Kelly and her husband, Brandon Read More

Medicare Facts For You, Your Parents

People who are nearing the age of 65 should be making plans for the transition from private health care to Medicare. It is not a simple process or one that happens automatically. You have to initiate the enrollment process at a specific time or suffer a monetary penalty. It is important to understand that applying for Social Security benefits and enrolling in Medicare are two totally different things. Don't confuse Read More

Are You Leaving Your Retirement Account at Risk?

You’ve spent your entire life building up your retirement account. It may even be the biggest asset you’ll leave behind for the people you love. If that’s the case, you may want to consider creating a special trust designed specifically to receive your retirement account assets in the event of your death. What happens to your retirement account when you're gone? If you leave your retirement account to the people you Read More

Financial Advice for New Home Owners

by guest blogger, Joelle Spear, CFP® of Canby Financial Advisors, LLC Congratulations. You are now part of the American Dream. You made it. After a long process from open houses to the closing table, you have the keys to your first home. If your process of buying a home was anything like my first purchase, you had some anxious moments along the way. Now you can relax on lazy Sundays and host BBQs or dinner Read More

When Is the Purchase of Long-Term Care Insurance Worth It?

Elder Care is emerging as a significant issue for many people as life spans continue to increase. It is nice to know that because of health care advances, we can expect to live longer, but there are no included guarantees on the quality of life in the later years. Many people eventually face a period in life when they can no longer do for themselves. Daily living tasks such as walking, bathing, cooking, and managing Read More

Superstar Prince’s death brings estate planning to the forefront of discussion

The untimely death of superstar Prince has brought a surprising issue to American living rooms: estate planning. If current reports are correct that Prince died without a will, state law and the Court system will dictate who controls and inherits his sizable estate. It is also likely that taxing entities will take a bigger bite out of his estate - costing his family millions, unnecessarily -- before anyone inherits Read More

What to do with a cash windfall

Many of us like to fantasize about winning the lottery. We muse with our friends about how we might spend the money, and we dream about never wanting for anything ever again. The odds are against us, of course, at least as far as the lottery goes. But that doesn’t mean - at some point in our lives perhaps - we won’t actually come into a major amount of cash, usually in the form of an inheritance, or perhaps through Read More

Things You Should Never Put in Your Will

A will is a vital estate planning document, and allows you to distribute your assets and property according to your wishes. However, there are several items that should NOT be included in a will: Property held in a living trust or joint tenancy - property deeded to a living trust cannot be willed to someone else, and a will cannot change the right of survivorship in joint tenancy, which passes to the joint tenant by Read More

How to Plan for the Long-Term Care of a Special Needs Child

Parents of special needs children are naturally concerned about how that child will get the care he or she needs after they are gone.  There are several ways to plan for the care of a long-term disabled heir, including: Special Needs Trust – A special needs trust can be established by a parent or grandparent for the care of a child or grandchild of any age in lieu of leaving an inheritance, which would likely Read More

Estate Planning for the Blended Family

Balancing the needs of a multi-generational blended family with your own wishes can be a complicated task, especially when it comes to estate planning.  With a majority of Americans not only marrying once, but twice, three or even four times during their lives, it is a challenge that will come to many. Even when blended family members get along, estate planning can be complicated. The potential for acrimony among Read More