We are frequently asked how long to keep documents. It’s an important question, and knowing the answer can help eliminate some of the paper clutter we all accumulate at home.
The population of seniors in the United States is growing rapidly. Data from the U.S. Census Bureau indicates that people 65 and older will make up 20 percent of our country’s population by 2030. Along with this increasing population come increasing reports of elder financial abuse. It is only going to become more and more important for all of us, professionals, friends and family members, to be aware of this problem and be prepared to recognize it and respond appropriately.
One of the the biggest misnomers coming out of Washington is the idea of “tax simplification,” where Congress purportedly makes it easier for all of us to fill out our tax returns by adding several thousand pages of new rules, rates and lists of things we can and cannot deduct under new lists of circumstances.
Though we recently added a new Cybersecurity page in our Resources section, we plan to make cybersecurity a continuing topic on our blog for the foreseeable future. Cybercriminals continue to concoct devious schemes for gaining access to your private information and stealing from you. As we learn of various interactions, we will share them with you.
Sometimes our older clients ask us if they should hold a family meeting to educate their child or children about the family’s financial and estate plans. We think this is a great opportunity for clients to also talk to their family members about their legacy and values, and traditions they’d like to see continued