As part of long term care planning prior to retirement, consider Social Security and other retirement benefits. It is important to know what your income, or maybe both you and your spouse's incomes, will be as you get older. What will you need to live on? What will you need to pay for long term care? Do you have retirement accounts, such as IRAs, 401ks, or 403bs? When should you start taking Social Security or these other retirement benefits?
Estate Planning and Vacations
Estate planning seems to come up as people prepare to go on vacations. Why? Maybe they are concerned about not coming back from vacation or suffering an accident while travelling. Whatever the reason, besides packing, stopping the newspaper (if they still get one delivered), putting the pets in a kennel or with a friend, people suddenly have to get Last Wills and Testaments prepared.
Powers of Attorney 2015
As you may recall, Powers of Attorney in Pennsylvania were changed beginning on January 1, 2015. I last wrote about some of the changes on October 26, 2014 and wanted to write about some of the provisions. My prior post had talked about the change in the NOTICE that the Principal signs and the changes in the Acknowledgment that the Agent signs. There were also changes in the some of the powers that can be given to the Agent.
