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Episodes
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What rights do families truly have when a loved one’s death might have been preventable? In this insightful episode of Financially Ever After, Stacy Francis sits down with Mary Beth Heiskell, a seasoned legal expert in wrongful death cases, to unravel the often-hidden financial and legal challenges families face when tragedy strikes. From the rights of estranged family members in estate claims to practical tips on managing assets and legal appointments, Mary Beth shares indispensable guidance to help families protect their financial future and avoid common pitfalls.
Listen in as they discuss:
How estate rights can affect you. For example, New York state law grants parents, including estranged ones, a potential share of the estate in certain cases, impacting surviving spouses and heirs.
When a spouse wants to serve as the estate administrator, certain family members, such as estranged parents, may need to formally approve the appointment. Planning these steps in advance can help avoid disputes and smooth the process for surviving family members.
Steps for proactive asset management, such as transferring ownership of specific assets—such as vehicles, firearms, or real estate—before a loved one’s passing can greatly simplify the estate process for survivors.
Navigating the complex landscape of wrongful death and estate administration requires specialized knowledge, making expert assistance essential to avoid costly mistakes.
Resources:
Mary Beth Heiskell on LinkedIn
Email: [email protected] and [email protected]
NY - Advance Directories - Make your wishes known and honored
NY - Appoint your healthcare proxy
9.11 World Trade Centre Health Program
WTC Victim Compensation Fund
Stacy Francis on LinkedIn | X(Twitter)
Email: [email protected]
FrancisFinancial.com
Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today! -
Can prioritizing your health make you more financially secure? In this episode of Financially Ever After Widowhood, Stacy Francis speaks with Dr. Gina Williams, a physical therapist and advocate for holistic well-being, about how wellness influences every aspect of our lives, including finances. Together, they explore practical ways to prioritize health and wellness, discussing affordable care options, the impact of stress on the body, and the importance of self-care.
Listen in as they talk about:
Gina shares the link between health and wealth with her holistic approach, emphasizing the connection between wellness and financial stability.
She discusses founding her own practice to offer individualized care tailored to each client’s unique needs.
Gina and Stacy explore how grief and stress can lead to physical pain and why self-care is crucial, especially during challenging times.
Gina highlights ways to make physical therapy accessible, with insurance, telehealth, and flexible scheduling options.
For those feeling overwhelmed, Gina provides simple ways to incorporate movement into daily life, showing that even a few minutes of exercise can have meaningful benefits.
Gina discusses the importance of establishing boundaries at work and in personal life to protect both physical and mental health, especially when dealing with grief or stress.
She shares how small, consistent adjustments to daily routines—like posture corrections and mindful breathing—can lead to significant long-term improvements in physical well-being.
Resources:
Dr. Gina Williams on Website I Physical Therapy I LinkedIn I Podcast | YouTube | Instagram | Facebook
Email: [email protected] I +516-715-2601
Stacy Francis on LinkedIn | X(Twitter)
Email: [email protected]
FrancisFinancial.com
Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today! -
Episodes manquant?
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How to Support Grieving Loved Ones
Are you struggling with grief and seeking support? In this episode of Financially Ever After Widowhood, Hope Reger, a passionate advocate for those experiencing loss, shares her journey and insights on coping with grief with Stacy. She highlights the importance of recognizing the unique challenges that come with grieving and emphasizes the value of genuine connection and support. As the founder of Grief 2 Hope, she provides resources and a safe space for individuals to navigate their grief journey.
Hear them discuss:
Understanding Grief: Grieving is a deeply personal experience, and acknowledging it can be the first step toward healing.
Authentic Support: When helping someone who is grieving, honesty matters—simply saying, "I don't know what to say, but I'm here for you," can be incredibly powerful.
Casserole Therapy vs. Specific Help: While well-meaning friends may offer food, true support comes from specific offers to help, like picking up kids or walking the dog, rather than leaving the burden on the grieving person to ask for help.
The Importance of Ongoing Support: Grief doesn't end after the funeral. Continuing to reach out during significant milestones—like anniversaries or the first day of school—can mean the world to someone navigating loss.
Grief to Hope Program: Open to anyone grieving, this seven-week virtual program provides a supportive community. It covers various topics related to grief and allows participants to share their experiences in a safe space.
Inclusivity of Loss: The program welcomes those grieving any loss, whether it be a partner, child, or friend, emphasizing that all grief is valid.
Free Resources: The Grief to Hope program is entirely free, emphasizing the mission to support anyone in need without financial barriers.
Resources:
Hope Reger on LinkedIn | Website | Facebook | Instagram
Grief 2 Hope on LinkedIn | Facebook
Phone: 937-768-1459
Email: [email protected]
''Grief 2 Hope - A mother's memoir of devastation to determination'' by Hope Reger
Stacy Francis on LinkedIn | X(Twitter)
Email: [email protected]
Stacy Francis on LinkedIn | X(Twitter)
Email: [email protected]
FrancisFinancial.com
Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today! -
Are you maximizing your tax strategies to avoid costly pitfalls? In this episode of Financially Ever After Widowhood, financial expert, Deborah Schaub, shares with Stacy Francis crucial insights into effective tax planning. With a background working for Fortune 500 companies like Price Waterhouse and IBM, Deborah founded CNB Accounting in 2016 to provide personalized financial advice. She emphasizes that many accountants focus on form-filling rather than strategic planning, a gap she addresses through comprehensive tax planning. Deborah’s philosophy is simple yet profound: truly understanding your finances is key to avoiding unnecessary losses.
Planning for today, next year, and the future can help reduce tax burdens and prepare for financial changes.
A 3.8% tax affects high earners (above $200,000 for singles) at federal, state, and potentially city levels; strategic portfolio management can help minimize this tax.
Surviving spouses may face higher taxes due to changes in their filing status; careful planning can mitigate the impact.
Coordinated planning with financial advisors and CPAs can significantly reduce tax liabilities and manage higher marginal tax rates, especially important for surviving spouses.
Net investment income tax is often underreported, but it can result in significant costs if not managed properly.
As income increases, especially for surviving spouses, higher marginal tax rates can exacerbate financial burdens.
Charitable deductions and bunching strategies are effective ways to reduce taxable income.
Many accountants focus on form preparation rather than strategic planning; proactive tax planning can offer substantial savings.
Staying within legal tax boundaries is crucial, but smart planning can still significantly reduce tax liabilities.
Women facing divorce or the loss of a spouse often need to change accountants to find someone who listens to their unique financial needs.
Understanding taxes and personal finances is key to making informed decisions and avoiding unnecessary financial losses.
Resources:
Deborah Schaub on LinkedIn
Phone: +201-787-6542
Email: [email protected]
CNB Accounting Website
Stacy Francis on LinkedIn | X(Twitter)
Email: [email protected]
FrancisFinancial.com
Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today! -
Solo agers, people without traditional family supports, are an increasingly common demographic. Dr. Gerda Maissel, a private patient advocate, joins Stacy Francis on Financially Ever After Widowhood to discuss the challenges solo agers face, especially in navigating the healthcare system. Dr. Maissel’s expertise as a physician has led her to help individuals maximize medical relationships and make informed decisions. She emphasizes the importance of preparing for solo aging ensuring access to financial, medical, legal, and mental health resources to maintain quality of life as one ages without family support.
There is a growing demographic of solo agers—those aging without traditional family support.
Dr. Gerda Maissel helps solo agers navigate complex healthcare systems, translating medical jargon and advocating for better outcomes.
It is important to prepare for solo aging, including asking the right questions and making informed decisions.
Solo agers face such as depression, poor nutrition, and substance abuse.
Solo agers need to create reciprocal relationships and secure medical, financial, and legal resources.
Financial planning is instrumental for solo agers. They face financial challenges, particularly single women, and need to plan for healthcare costs.
Dr. Maissel explains the role of a patient advocate in helping individuals navigate their medical needs and coordinate care.
Resources:
My MD Advisor Website | Email | Facebook
Dr. Gerda Maissel on LinkedIn | The Foglight
Stacy Francis on LinkedIn | X(Twitter)
Email: [email protected]
FrancisFinancial.com
Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today! -
The team at Financially Ever After is taking a brief summer pause to line up an amazing new series of guests for you in the fall. So relax, enjoy the end of the summer, and if you have some time, catch up on any episodes you've missed! You'll find the entire archive at FrancisFinancial.com/Podcast. We'll be back on September 17th.
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Paula Jones, a trust and estate attorney, discusses the complexities of estate planning and taxation for U.S. citizens with international assets or family members abroad. She highlights the U.S. system of taxing worldwide income and assets, in contrast to other countries' residency-based taxation. Paula also talks about other subjects she specializes in - gifting to foreign beneficiaries, managing dual jurisdiction tax laws, and considerations for U.S. citizens living or retiring abroad. The importance of coordinated legal counsel across different countries to navigate these issues efficiently is emphasized. Tune it to the new episode of Financially Ever After Widowhood podcast, where host Stacy Francis and guest Paula Jones, unravel the subtleties of tax systems worldwide.
The U.S. taxation system requires citizens to report and pay taxes on their worldwide income and assets, regardless of their residency status.
Estate planning becomes more complex for individuals with international assets or foreign family members due to varying laws and regulations across countries.
When gifting assets to non-U.S. citizens, it's crucial to understand the tax implications and regulations that affect such transfers.
Navigating dual jurisdiction tax laws is essential for U.S. citizens with international ties, as they must comply with tax regulations in multiple countries.
U.S. citizens living abroad need to be aware of key financial and legal considerations, including tax obligations and estate planning while residing or retiring outside the U.S.
Trusts and estate planning tools can be used to effectively manage and protect assets across borders, providing solutions for international asset management.
Coordinating legal counsel across different countries is vital for handling complex estate and tax issues effectively.
International tax treaties play a significant role in reducing double taxation and simplifying cross-border estate planning.
Ensuring compliance with both U.S. and foreign tax regulations is essential to avoid legal complications and financial penalties.
Seeking expert advice is crucial for navigating the complexities of international estate planning and taxation successfully.
Resources:
Paula Jones on LinkedIn
Email: [email protected]
Jones Estate Group - Paula is admitted to practice law in the States of New York, New Jersey, and Pennsylvania however, she is happy to entertain working with clients from other states
Phone number: +1 484 680 1143
Stacy Francis on LinkedIn | X(Twitter)
Email: [email protected]
FrancisFinancial.com
Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today! -
When faced with a terminal illness diagnosis, your emotions can be overwhelming. You still need to navigate the legal aspects, however, to ensure that you and your loved ones are protected. Stacy Francis’ guest this week is Alison Arden Besunder, a partner in charge of the Trust and Estates department at Goetz Fitzpatrick. Alison has extensive experience in guardianship and estate litigation. She joins Stacy to discuss end-of-life planning, including steps to take when the timeline is limited. Stacy and Alison delve into navigating the healthcare system, and the importance of having critical documents in place to convey your medical wishes clearly.
Highlights from this episode:
Ensure you have a healthcare proxy and living will in place to appoint someone as your medical decision-maker and provide evidence of your end-of-life intentions.
Discuss end-of-life decisions openly with your loved ones, promoting a foundation of good communication to handle high-stress situations effectively.
Even with your best efforts, you may feel helpless when dealing with a loved one's illness, but remember that your support and care are invaluable during these challenging times.
Avoid burnout as a caregiver by setting boundaries and not taking on more than you can handle. Seek support from therapists to manage the emotional burden effectively.
Find the right caregivers for your loved one by tapping into resources like personal needs guardians or geriatric care managers who can connect you with experienced aides.
When navigating end-of-life care decisions, ask questions and advocate for your loved one to ensure the best possible care and treatment options.
Bioethics committees in hospitals can offer support and assistance in decision-making, especially in challenging end-of-life care situations. They can help translate medical jargon and provide guidance to both physicians and families.
Even without a living will, there are other forms like MOLT (Medical Options for Life Sustaining Treatment) or PULST (Physician Orders for Life-Sustaining Treatment) that can be used to make end-of-life decisions in a hospital setting.
Navigating end-of-life decisions for pets also requires careful consideration, and sometimes there may be disagreements between family members on the best course of action.
For anyone facing end-of-life care decisions or other financial challenges related to medical care, seeking guidance from financial advisors can be crucial to manage expenses and make informed choices.
Resources
Alison Arden Besunder on LinkedIn | Facebook | Twitter
Goetz Fitzpatrick | LinkedIn
Phone: 212-695-8100 x289
Stacy Francis on LinkedIn | Twitter
Email: [email protected]
FrancisFinancial.com
Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today! -
This week on Financially Ever After Widowhood, you’ll enjoy a powerful crossover episode with the Modern Family Matters Podcast. Stacy Francis joins Steve Altishin, Director of Client Partnerships at Pacific Cascade Legal, to dive deep into the intricacies of social security laws and how they impact widowed parents. Stacy and Steve discuss the financial complexities of widowhood, understanding eligibility criteria, and maximizing benefits for yourself and your family. Together, they unravel the nuances of Social Security laws and will empower you to take control of your financial future.
Understanding the eligibility criteria for social security benefits as a widowed parent is crucial for financial planning after the loss of a spouse.
Maximizing earnings during work years is key to ensuring a stable financial future, especially for women who may face financial challenges after the death of a spouse.
The complexities of social security laws can impact widowed parents, making it essential to seek expert advice to navigate the intricacies of survivor benefits.
The financial implications of divorce on survivor benefits highlight the importance of seeking legal advice before making decisions that could impact future financial security.
Delaying social security benefits can have advantages, but it's essential to understand the implications of different benefit options to maximize financial support after the loss of a spouse.
Advocacy for policy changes to improve survivor benefits for widows and widowers is crucial to address the financial challenges faced by those who have lost a spouse.
Resources
Steve Altishin | LinkedIn | Pacific Cascade Legal
Stacy Francis | LinkedIn | X(Twitter)
Email: [email protected] -
Are you prepared for the financial complexities of widowhood? In this episode, Stacy Francis and Judy Heft, a financial and lifestyle concierge, discuss essential steps to take after the loss of a spouse. From assembling a support team to navigating benefits like social security and veterans' benefits, you’ll have a roadmap to help guide you through this challenging transition. They also discuss invaluable topics like managing grief, collecting essential documents, and accessing resources like Savvy Ladies to empower women in their financial journey.
Building a strong support team, including professionals like estate planning attorneys, financial advisors, and therapists, is crucial for navigating the complexities of widowhood.
Collecting essential documents such as death certificates, social security cards, wills, and financial account details is a critical step in managing the financial aftermath of losing a spouse.
Utilizing resources like va.gov and ssa.gov can help widows understand and access benefits they may be entitled to, such as veterans' benefits and social security survivor benefits.
Leveraging the help of friends and family to inform various institutions and cancel subscriptions can alleviate the burden of administrative tasks during a time of grief.
Recognizing the importance of financial empowerment for women, organizations like Savvy Ladies offer valuable resources and support to help women take control of their financial futures.
Embracing the role of a positive role model for children and future generations can inspire resilience and financial independence in the face of adversity.
Resources
Judy Heft | LinkedIn | Savvy Ladies
Stacy Francis | LinkedIn | X(Twitter)
Email: [email protected] -
What does the word widow mean to you? This is a question today’s guest thinks we should all be asking because it could use a new definition. In this Financially Ever After Widowhood episode, Stacy Francis speaks with Eloise Bune D’Agostino, the founder of DayNew, a company and community to support people through life-changing events. They discuss the challenges and transformations of life after losing a spouse and how Eloise turned her grief into a powerful support network for others.
Key Takeaways:
The word widow has very dark and heavy connotations, but it should also represent strength, resilience and independence.
Eloise shares the story of how, after unexpectedly losing her husband, she connected with another new widow and created a tech company to help others navigate similar situations.
Support systems play a huge role in navigating grief. Grief groups can make a profound difference for people.
Losing a spouse means a lot of practical changes need to be made, even though taking action cab be incredibly difficult. Organizational aids can make it a little more manageable.
Explore how to keep the memory of loved ones alive through personal and family rituals and storytelling.
Everyone has their own grief journey, and there is no one single way to navigate it.
Get insights into creating a supportive community and accessing professional financial advice.
Resources
Eloise Bune | LinkedIn | Facebook | Instagram
Email: [email protected]
DayNew
Stacy Francis | LinkedIn | X(Twitter)
Email: [email protected] -
What if you could uncover free money that is rightfully yours? In this episode of Financially Ever After, host Stacy Francis unveils the hidden world of unclaimed funds with guest David Silversmith, a CPA and certified financial planner at Eisner Advisory Group, LLC. They discuss the staggering amount of unclaimed funds available, how they can accumulate from various sources like uncashed checks and dividends, and the importance of checking for unclaimed funds regularly. David sheds light on how to claim your rightful funds and avoid falling into common traps.
There are over $18 billion dollars in unclaimed funds. Discover how to locate yours and those left behind by deceased loved ones.
Learn the importance of tax planning and estate management, especially for widows and widowers, from a certified financial planner and CPA.
Find out how to easily access unclaimed funds in states like New York and the potential challenges in states like New Jersey.
Learn how to file claims for deceased loved ones, including the required documentation, such as death certificates and letters of testamentary.
Avoid common pitfalls when claiming unclaimed funds, such as paying unnecessary fees for services that can be accessed for free.
Explore the range of financial advisory services offered by experts like David Silversmith, including tax planning, audits, and estate management.
Resources
David Silversmith | LinkedIn
Eisner Advisory Group LLC – David R. Silversmith
Stacy Francis | LinkedIn | X(Twitter)
Email: [email protected] -
What are the key considerations when navigating the complex world of Medicare and health insurance as you approach age 65? In this episode, Riitta Schoenfeld, a Medicare expert, delves into the intricacies of Medicare, discussing eligibility, different plan options, penalties, and the importance of understanding your healthcare coverage. Join us as we unravel the maze of Medicare and empower you to make informed decisions for your financial and health security in your golden years.
Understanding the difference between Medicare and Medicaid is crucial for eligibility and coverage.
Riitta’s journey from volunteering to becoming a Medicare expert highlights the importance of helping others navigate healthcare options.
Medicare eligibility is based on age, disability, or specific medical conditions, such as end-stage renal disease or Lou Gehrig's disease.
The importance of signing up for Medicare at the right time to avoid penalties and ensure proper coverage.
The distinction between Medicare Advantage plans and Medigap insurance supplements in terms of coverage and benefits.
Long-term care, including custodial care, is not covered by Medicare, emphasizing the need for additional planning and insurance options.
Resources
Riitta Schoenfeld | LinkedIn
Email: [email protected]
Telephone: 516-331-4833
Stacy Francis | LinkedIn | X(Twitter)
Email: [email protected] -
Do you know what steps to take and how to keep yourself secure in the face of a devastating medical diagnosis? In this episode of Financially Ever After Widowhood, host Stacy Francis talks to Candace Dellacona, a family lawyer who helps older adults plan for their future. They discuss how to prepare for long-term care and protect your assets, such as ensuring you have a healthcare proxy and power of attorney and considering long-term care insurance. They also dive into why you should have a team of experts, including a geriatric care manager, who can help you find the best care options for your situation.
Planning for the future with a terminal illness diagnosis involves crisis planning to protect assets and ensure proper care for the sick spouse.
Medicaid and Medicare are essential programs to understand when planning for long-term care, with Medicaid serving as a payer of last resort for costs not covered by Medicare.
Long-term care insurance can provide options and financial relief for individuals facing the need for extended care, offering flexibility in choosing care providers and settings.
Advanced directives, including a health care proxy and power of attorney for finances, are crucial documents to have in place after receiving a serious medical diagnosis to ensure proper decision-making and care.
Building a team of professionals, including financial advisors, elder law attorneys, and geriatric care managers, is essential for navigating the complexities of long-term care planning and advocacy.
Support groups can be valuable resources for information and recommendations on care providers, legal assistance, and financial planning strategies for individuals facing medical crises and long-term care needs.
Resources
Candace Dellacona on the Web | LinkedIn | Facebook
Email: [email protected]
Phone: 212-545-1656
Stacy Francis | LinkedIn | X(Twitter)
Email: [email protected] -
When you suffer a loss, should you move forward or move on? Nikki Sewell, a therapist with a personal experience of profound loss, offers a unique perspective on navigating grief and moving forward after the death of both her husband and father by the age of 30. With over 17 years of experience in grief counseling, Nikki emphasizes the importance of not just moving on but moving forward in the tapestry of life. Join Stacy Francis on this episode of Financially Ever After as Nikki shares her insights on setting healthy boundaries, practicing self-compassion, and the complexities of re-partnering after loss.
Moving forward, not moving on, is a more empowering approach to dealing with grief and loss, recognizing that past experiences are woven into the tapestry of our lives.
Setting healthy boundaries is crucial in the grieving process, especially for women who may struggle with people-pleasing tendencies and societal expectations.
Self-compassion plays a vital role in navigating grief and trauma, allowing individuals to acknowledge their emotions and prioritize self-care.
The decision to re-partner after losing a spouse is a personal choice, and individuals should focus on their own growth and happiness rather than societal pressures.
Recognizing that grief can manifest in different ways for different people, it's essential to be understanding and supportive of individuals experiencing loss.
Seeking professional therapy and support can help individuals navigate the emotional and financial challenges that come with the loss of a spouse.
Resources
Nikki Sewell | Website | Weekly Blog
Email: [email protected]
Phone: 203-590-9642
Stacy Francis | LinkedIn | X(Twitter)
Email: [email protected] -
Have you considered the true cost of healthcare for women, especially in the face of widowhood? Forbes reports that women pay nearly $15 billion more than men in health costs. In this episode of Financially Ever After, host Stacy Francis is joined by Beth Battaglino, the CEO of Healthy Women, and Deb Gordon, the co-founder of Umbra Health Advocacy. Together, they discuss the significant challenges widows face in healthcare, including hidden and unexpected expenses that can cause severe financial strain. Financial education and proactivity is crucial, along with support from caring experts and advocates, so that you can empower yourself with physical and financial health.
The widowhood effect highlights the increased risk of mortality and prolonged illnesses that women face after losing a spouse, emphasizing the importance of healthcare and preventative care.
Women pay much more for healthcare than men, with women paying more out of pocket due to differences in utilization patterns and services needed.
It is crucial to seek help and ask for assistance in navigating healthcare costs and bills, and take full advantage of the resources available to help reduce financial burdens and provide support.
You can make informed decisions about your healthcare and ensure you are adequately covered if you understand health insurance coverage and benefits. There are numerous experts and advocates who will stand by your side.
Utilizing healthcare flex spending accounts and health savings accounts can help women save money on healthcare expenses and plan for future medical needs.
Hiring patient advocates or utilizing the services of organizations like the Alliance of Professional Health Advocates can provide expert assistance in managing medical bills and navigating the healthcare system.
Resources
Deb Gordon | Umbra Health Advocacy | X(Twitter) | LinkedIn | Alliance of Professional Health Advocates
[email protected]
Beth Battaglino | Healthy Women | X(Twitter) | LinkedIn
Stacy Francis | LinkedIn | X(Twitter)
Email: [email protected]
Articles:
Healthy Women: Understanding Health Insurance Terms
Healthy Women: Choosing a Health Insurance Plan
Healthy Women: Healthcare 101 for Women
Forbes: Women Pay $15 Billion More Than Men for Medical Costs -
Losing a spouse is difficult enough, and navigating the complex world of taxes only adds to that burden. In this episode of Financially Ever After, host Stacy Francis is joined by Samantha Harris, CPA, who leads her own tax preparation service company. Together, they provide valuable advice that will help you understand important nuances, file your taxes, and potentially save thousands of dollars in the process. Stacy and Samantha dispel some of the mystery around taxes after a loss, from finding the right professional guidance to understanding Social Security to proactive planning.
Finding the right accountant is crucial for navigating tax implications after losing a spouse. With changes in filing status and potential tax savings opportunities, the right accountant can provide peace of mind and ensure financial stability.
Understanding the different filing statuses, such as qualifying widow or head of household, can significantly impact tax liabilities. Choosing the appropriate filing status can lead to substantial tax savings and ensure compliance with IRS regulations.
Organizing important financial documents and passwords can ease the burden on loved ones in the event of unexpected loss. Maintaining a clear record of financial information and passwords can streamline the process for your family and ensure a smoother transition during a difficult time.
Social Security benefits may or may not be taxable, depending on various factors like additional income sources. Understanding the tax implications of Social Security benefits can help individuals plan effectively for their financial future and optimize their tax situation after the loss of a spouse.
Communication and collaboration between financial advisors, accountants, and clients are essential to ensure comprehensive financial planning and tax strategies tailored to individual needs and circumstances.
Resources
Samantha Harris, CPA on LinkedIn
Email: [email protected]
Phone: 646-629-1381
Stacy Francis on LinkedIn | X(Twitter)
Email: [email protected] -
What are the key differences between traditional estate planning and elder law planning, and why is it important to consider elder law planning at a younger age? In this episode of Financially Ever After, host Stacy Francis delves into the intricate world of special needs planning and elder law with guest Britt Burner. Together, they navigate the complexities of legal and financial considerations for people with disabilities and those facing terminal illnesses.
Planning for a disabled child's future requires careful consideration of government benefits and asset protection strategies. Understanding the nuances of Medicaid, SSI, and SSDI is crucial in ensuring the child's financial security and well-being.
Spousal refusal and other legal strategies can help protect assets and qualify for Medicaid in the face of terminal illness or disability. Knowing the options available and seeking personalized advice from an elder law attorney can make a significant difference in navigating these challenging circumstances.
Establishing a Supplemental Needs Trust can safeguard assets for a disabled child without jeopardizing their eligibility for government benefits. By setting up this trust, parents can ensure that their child's financial future is secure and that they continue to receive the necessary support and care.
Personalized advice from an elder law attorney is essential in creating a comprehensive plan for long-term care and asset protection. By consulting with a legal expert specializing in elder law, individuals can develop a tailored strategy that addresses their specific needs and goals, providing peace of mind for the future.
Early engagement in elder law planning, including powers of attorney and healthcare proxies, can provide peace of mind and security for the future. By proactively addressing legal and financial matters, individuals can ensure that their wishes are respected and their affairs are managed according to their preferences and values.
Resources
Britt Burner on LinkedIn
Email: [email protected]
Burner Prudenti Law on Website | Facebook | X | LinkedIn | Instagram | YouTube
National Academy of Elder Law Attorneys
Stacy Francis on LinkedIn | X(Twitter)
Email: [email protected] -
What if you received a call or email claiming to be from the IRS, demanding immediate payment for back taxes or threatening legal action? How would you react in a moment of heightened emotion and urgency? In this episode of Financially Ever After, Stacy Francis is joined by Kathy Stokes, who brings a wealth of knowledge and experience in combating financial crimes. As the Director of Fraud Prevention Programs at AARP Kathy brings unique insight into the tactics used by criminals, the importance of education in fraud prevention, and the resources available to protect oneself from scams. Discover how to empower yourself against fraud and safeguard your financial well-being.
Understanding that the IRS will not initiate contact through calls or texts unless there is an existing issue is crucial in avoiding potential scams and protecting personal information.
With a significant 400% rise in cyber crimes and fraud reported in recent years, it is more important than ever to stay informed and vigilant to safeguard against financial threats.
AARP's Fraud Prevention Program, led by Kathy Stokes, plays a vital role in educating people about the risks of financial fraud and providing support to combat these crimes.
Eight out of 10 women change financial advisors within a year of their spouse's passing, highlighting the importance of thorough research and due diligence when selecting a new advisor to ensure financial security.
Those facing emotional vulnerability, such as widows, are often targeted by fraudsters due to their heightened emotional state, emphasizing the need for awareness and protection.
Recognizing red flags like unexpected contact, urgency, and heightened emotions can serve as warning signs to identify and avoid potential scams, empowering you to protect yourself.
Regularly monitoring credit reports and implementing credit freezes are proactive measures that can help prevent identity theft and financial fraud, ensuring greater security and peace of mind.
AARP's Fraud Network Helpline, staffed by trained volunteers, offers valuable support and guidance to those facing potential fraud, providing a safe space to seek assistance and report suspicious activities for better protection.
Resources
Kathy Stokes on LinkedIn | AARP | AARP Fraud Watch Network
AARP Fraud Watch Hotline: 877-908-3360
Stacy Francis on LinkedIn | X(Twitter)
Email: [email protected]
FrancisFinancial.com
Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today! -
Holly Strelzik, a woman who has experienced her fair share of loss and grief, joins Stacy Francis on this episode of Financially Ever After. From a childhood of divorce and estrangement to the death of a close friend and several traumatic events, Holly has cultivated a profound connection to the art of dying and end-of-life care. As an end-of-life doula and grief recovery specialist, Holly understands the importance of caring for oneself while caring for others. She shares her personal journey as a caregiver and offers valuable insights on finding support and maintaining one's own well-being. Be inspired by Holly's wisdom and compassion as she empowers women to navigate the challenges of caregiving and grief.
Taking care of oneself is crucial as a caregiver, as neglecting self-care can lead to negative consequences for both the caregiver and the person being cared for.
Holly shares her personal journey of caregiving, from her childhood experiences to her current role as a caregiver for her husband with Alzheimer's.
The 2-2-2 plan is a practical approach to ensure that caregivers have support in place for different timeframes, from a few hours to a couple of weeks.
Caregivers face a higher mortality risk and need to prioritize their own well-being to avoid caregiver strain.
Center for the Heart, founded by Holly, provides end-of-life care and grief support to individuals and families facing terminal illnesses.
Grief is a complex process that requires compassionate support and understanding, and Center for the Heart offers a safe space for individuals to explore their grief and find healing.
Embracing a spiritual practice or finding solace in nature can be beneficial for caregivers in maintaining their own well-being.
Grief can be a catalyst for personal growth and can inspire individuals to serve others who are experiencing similar challenges.
Resources
Holly Strelzik on Instagram | LinkedIn | Facebook | Podcast | Center for the Heart | Center for the Heart LinkedIn
Email: [email protected]
Stacy Francis on LinkedIn | X(Twitter)
Email: [email protected]
FrancisFinancial.com
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