Author Archives: Jay Butchko
By Practicing Delayed Gratification, You Can Get an Increase in Income After Age 65
Retirement can give you a feeling of freedom, because once you retire, it means that you never have to work again. It can also have the opposite effect, because it also means that you will never get a paycheck or a work bonus again. Having total control over your time sounds fabulous, but living… Read More »
Family Togetherness at What Cost?
Your children’s financial situation is unlikely to improve miraculously. You must first realize this before you can make progress on your estate plan. Many seniors who are fortunate enough to be able to think about their estate plans, who have not been living hand to mouth their entire lives, are in a more secure… Read More »
Credit Insurance as an Estate Planning Tactic?
Debt is a source of worry for almost everyone, and once you reach a certain age, you start to worry about how your outstanding debts will affect your family after you die. If you do a Google search for ways to protect your estate from creditor claims, the first results will be about establishing… Read More »
Do You Have to Withdraw Money From Your Retirement Account as Soon as You Retire?
If you are worrying about when to start withdrawing money from your retirement account, this is a good problem to have, because it means that you have a retirement account, and it means that there is money in it. Agonizing over when to retire is more of a fun rite of passage than it… Read More »
Estate Planning for Physicians
Medical doctors are in the habit of assessing risk; they do it at every appointment with every patient, sometimes without even realizing it. Everyone needs an estate plan, but getting started on yours is an especially urgent matter if you fit into one of the major risk categories. Financial advisors quickly swoop down on… Read More »
Are You Too Bougie for Medicaid?
If you have read the news anytime in the past few years, you can easily get the impression that the only people who qualify for Medicaid are desperately poor. Even in blue states like New York, the number of people who are too poor to pay for healthcare and other necessities, but not poor… Read More »
What Would Happen If an Irrevocable Trust Owned Your House?
Trusts do more than make monthly payments to spoiled children and to spoiled adults whose trust fund payments prevent them from having to grow up. The main purpose of trusts is to keep assets out of probate, so that your heirs can inherit them directly, without creditors getting first dibs, which is what happens… Read More »
How to Stop Your Job as Personal Representative of an Estate From Driving You Crazy
For some people, family life is a constant source of stress. For others, family interactions are usually so painless that you wonder why everyone else is in such a foul mood during the holidays, since you enjoy spending the holidays with your relatives, and even with your spouse’s relatives. Some events involve such a… Read More »
A Letter of Wishes Can Say What Legal Boilerplate Cannot
The hardest part of losing a family member is the unanswered questions. If the deceased family member is older than you, then you probably spent most of your life expecting him or her to predecease you, and as your family member grew older and sicker, you made peace with how life would be when… Read More »
An Estate Plan That Does Not Include Your Children as Beneficiaries of Your Will
When you think about parents disinheriting your children, you probably imagine an exhausted grandmother opening her laptop after Christmas dinner and revising her will because her son and daughter-in-law made one rude comment too many, and the testator decided that she had endured enough years of disrespect and ingratitude from this side of the… Read More »