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Author Archives: Jay Butchko

LongTermCare_Insurance

How To Stop Long-Term Care Expenses From Tanking Your Estate Plan

By David Toback |

If you can see two people from where you are right now, the chances are high that at least one of them has medical debt; approximately half of American adults have medical bills that they have not yet paid off in full.  The only thing more disastrous to one’s finances than being unequipped to… Read More »

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Referee

How To Provide For Your Spouse Without Triggering The Stepparent Wars

By David Toback |

Until you have experienced it yourself, you might think that getting remarried when your children are minors is a minefield of conflict, but late-in-life romance is smooth sailing, whether or not you or your new partner has children.  After all, when you get remarried late in life, all parties involved are adults, including the… Read More »

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Can You Request A Change Of Personal Representative In A Probate Case?

By David Toback |

Family businesses aren’t for everyone.  You might enjoy getting together with your siblings on weekends and holidays, playing crazy eights and quoting old movies, but the idea of having to include them in your financial decisions or counting on them to meet deadline is more stressful than you care to think about.  Working in… Read More »

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LongTermStock

Keep Calm And Ride Out The Market Fluctuations

By David Toback |

The authors of Freakonomics have pointed out numerous examples of how people devote lots of energy to worrying about events that are only a remote possibility, while having no fear of situations that, purely from the point of view of probability.  If the Freakonomics authors went to Florida, they would probably immediately notice that… Read More »

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Downsize

Your Expenses During Retirement Could Be Lower Than You Think

By David Toback |

Beware of financial planners who start by asking you how much money you want to have when you retire; this is a gateway to unrealistic goals and to scams that promise to help you achieve them.  Meanwhile, if you meet with an estate planning lawyer expecting to discuss writing a will and saving your… Read More »

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Long-Term Financial Planning In Uncertain Times

By David Toback |

When you read the news headlines, even if you can no longer stand to read entire articles about current events, it is easy to get the impression that it is futile to make long-term plans.  Planning for retirement and building an estate plan implies an ability to be reasonably certain about the way that… Read More »

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TrustD2

Transferring Property To A Revocable Trust

By David Toback |

You do not have to be rich to set up a revocable trust.  In fact, if you are watching every penny, that is an even better reason to establish one.  Revocable trusts are an effective way to save money on taxes while you are alive and to pass property to your heirs seamlessly after… Read More »

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MoneyDome2

Inflation Proofing Your Retirement Plan

By David Toback |

You thought you were doing everything rate, saving at least five percent of your income in a savings account, maximizing your employer-matched retirement contributions, and saving up for in-state university tuition for your children.  Now that you are getting closer to retirement age, inflation is the highest it has been in decades, and the… Read More »

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Getting The Best Value From Annuities

By David Toback |

If you have a retirement pension that pays you a fixed income every month for life, consider yourself lucky, but employers have been getting less generous with these kinds of benefits over the years, so most people do not have employer-provided pensions.  The closest thing you can do to buying a pension is to… Read More »

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3_Fingers

3 Strategies For Simplifying Probate

By David Toback |

Leif, the retired physician who writes the Physician on FIRE (Financial Independence, Retire Early) blog correctly states that the only way to avoid probate is to become immortal, but unless you can succeed where Gilgamesh failed, probate is probably as inevitable as death and taxes.  If you are trying to avoid probate entirely, you… Read More »

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