It’s a common question: “Do I need a will?” The simple answer is: Yes. Without a properly drawn will, the state in which you reside determines how your assets are distributed, including who will take care of your minor children. The only way for your wishes to be carried out after you are gone is through a properly executed will that is recognized as valid in your state.
Most Arthritis Foundation donors want to make the greatest impact on the arthritis community through their current and future giving. However, some feel that family responsibilities limit their ability to give. This video shares the story of how Sam, with proper, thoughtful planning, was able to keep an important promise while making a gift to charity more powerful than he imagined.
Every day at the Arthritis Foundation, we fight this disease on all fronts – raising awareness, providing life-changing resources, holding community events and offering other local support – all while funding research that shows promise, not only for earlier diagnostics and innovative treatments, but also, ultimately, a cure.
Please take a moment to watch the informative video below to see how our mission is driven forward by the generosity of people like you.
One of the most challenging times in life is dealing with the loss of a spouse or partner. You must not only deal with the sorrow and grief of your loss, but also attend to many details and decisions that need to be made. The Arthritis Foundation has a resource guide called When the Time Comes (WTTC) to help both prior to and during this difficult time. Continue reading Practical Advice for a Difficult Time
By Lauren J. Wolven
A few years ago, my partner received a scary phone call from her child’s college roommate. Her child had collapsed in the dorm bathroom while getting ready for class and was in the hospital. Terrified, my partner contacted the hospital, and she was shocked to learn they couldn’t release any information because her child was over 18 and legally an adult. The hospital required a medical power of attorney before they could tell her anything. She had to make the thousand-mile trip not knowing how her child was doing. It was one of the worst situations a parent could face.
What if you got a call that your loved one – spouse, parent or adult child – was in the hospital? Would you be prepared? It can be overwhelming to even think about, but guidance and help are available.
Continue reading Power of Attorney: The Importance of Being Prepared
There is always a certain degree of guesswork that goes into year-end tax planning, but this year there is the added uncertainty surrounding what the tax code will look like after Washington completes the overhaul of our tax system. The income tax rates for many individuals and businesses may decrease; the definition of income subject to tax may change considerably as well. Many itemized deductions that we have become so used to, such as the deduction for qualified medical expenses, state and local income taxes and real estate taxes may be eliminated.
However, if the resulting new rules resemble the proposals, there will be a doubling of the standard deduction and the possible elimination of the controversial Alternative Minimum Tax. Below are some tax-planning suggestions, including suggestions related to charitable gifts, which consider both the typical year-end planning techniques as well as planning for a potential overhaul:
You’ve worked hard for decades – and it’s about time to enter the next phase of your life. You’ll have time to catch up on those books you’ve been meaning to read, travel to places you’ve dreamed of visiting and perhaps volunteer for that charity you’ve always admired.
But a pleasurable retirement requires sound financial planning. How can you be sure you’ll continue receiving the lifetime income you need and not have to worry that you’ll have enough?