If youre part of a blended family (meaning you are married with children from a prior marriage in the mix), youre no stranger to the extra considerations and planning it takes to keep your familys life running smoothly from which parent your children will be with for the holidays to figuring out the schedule for a much-needed family vacation. Youve also probably given some thought to what you want to happen to your assets and your family if something happens to you. But what you might not have realized is this: If you dont create a plan for your assets before you die, the law has its own plan for you that might not reflect your wishes for your assets, especially your retirement assets. And if youre in a blended family, this can have a significant financial impact on the ones you love and even create expensive, long-term conflict.This week, we explain how the law affects retirement distributions for married couples, and why you need to be extra careful with your retirement planning if youre in a blended family to ensure your retirement account assets go to the right people in the right amounts after youre gone.Be Aware of How ERISA Affects 401K DistributionsIf youve remarried, you and your new spouse have probably talked about updating the beneficiary designations on your retirement accounts to reflect your blended family arrangement. (If you havent talked about it, you need to talk about it ASAP). Sometimes, people who are remarried decide to leave their retirement funds to their children from a prior marriage and leave other assets like their house and savings accounts to their current spouse. You may do this to avoid future conflict between your spouse and your children over your assets.But even if you want to leave your retirement for just your children, if youre married and your retirement account is a work-sponsored account, your children wont inherit the entire account even if you name them as the sole beneficiaries. Thats because the federal Employee Retirement Income Security Act (ERISA) governs most employer-sponsored pensions and retirement accounts. Under ERISA, if youre married at the time of your death, your spouse is automatically entitled to receive 50 percent of the value of your employer-sponsored plan even if your beneficiary designations say otherwise.The only time that your surviving spouse would not inherit half of your ERISA-governed retirement account is if your spouse signs an official Spousal Waiver saying they are affirmatively waiving their right to inherit 50 percent of the account, or if the account beneficiary is a Trust of which your spouse is a primary beneficiary. IRAs Have Different Rules Than 401KsIf you want your children to inherit more than 50 percent of your work-sponsored retirement benefits, and completing a Spousal Waiver isnt an option, consider rolling the account into a personal IRA instead.In contrast to 401(k)s and similar employer-sponsored plans, IRAs are controlled by state law instead of ERISA. That means that your spouse is not automatically entitled to any part of your IRA. When you roll a 401(k) into an IRA, you gain the flexibility to name anyone you choose as the designated beneficiary, with or without your spouses consent. On the other hand, if you want to ensure your spouse receives half of your retirement savings, make sure to include them as a 50 percent beneficiary or better yet, have your individual retirement account payout to a Trust instead. With a Trust, you can:Document exactly how much of your retirement you want each of your loved ones to receiveControl when they receive the funds outrightEasily update and change the terms of your Trust without having to remember to update your financial accounts.Beneficiary Designations Always Trump Your WillWhether you have an employer-sponsored 401K or an IRA you manage yourself, there is one critical rule that everyone needs to know: beneficiary designations trump your Will.A Will is an important estate planning tool, but most people dont know that beneficiary designations override whatever your Will says about a particular asset. For example, if your Will states that you want your retirement account to be passed on to your brother, but the beneficiary designation on the account says you want it to go to your sister, your sister will inherit the account, even though your Will says otherwise.Similarly, lets imagine that you get divorced and as part of your divorce decree your ex-spouse agrees that they will not have any right to your retirement fund. However, after the divorce, you forget to take their name off of the beneficiary designation for the account. If you die before updating the beneficiary designation, your former spouse will inherit your retirement account. If you forget to update your ERISA-controlled account and have remarried, your current spouse would receive half of the account and your former spouse would receive the other half. Thats why its so important to work with an estate planning attorney who can make sure your accounts are set up with the proper beneficiary designations and ensure that your assets are passed on according to your wishes.Work With An Attorney Who Makes Sure All Your Assets Will Be Passed On How You Want Them ToUnderstanding how the law affects different types of assets is essential to creating an estate plan. But theres more to it than just having a lawyer you need an attorney who takes the time to really understand your family and your assets so they can design a custom plan that achieves your goals for your assets and your legacy. Thats why we help our clients create an inventory of all of their assets to ensure that every asset they hold is accounted for and passed on to their loved ones exactly as they want it to.Contact Entrusted Legacy Law at 412-347-1731.

In a world bustling with new experiences and breathtaking landscapes, age should never be a barrier to wanderlust. Senior travel, often overlooked, is a realm of endless possibilities and enriching encounters. Ageless Adventures is a celebration of this spirit, inviting seniors from all walks of life to embark on transformative journeys across the globe. As the golden years gracefully unfold, theres a growing recognition that travel is not just for the young and restless; its a tapestry of discovery, connecting seniors with the world's diverse cultures, cuisines, and captivating histories. Imagine strolling through the vibrant streets of Kyoto, savoring the aroma of freshly brewed Italian coffee in Rome, or marveling at the ancient wonders of Machu Picchu. These are not mere dreams; they are the vivid realities woven into the fabric of senior travel.Ageless Adventures strives to make these dreams tangible. Through meticulously curated itineraries, seniors are guided to explore destinations tailored to their interests and pace. Whether its delving into the artistry of Parisian museums or finding solace amidst the serene beaches of Bali, every adventure is designed to nurture the soul and spark curiosity. Beyond the breathtaking scenery, these journeys foster a sense of community, where like-minded individuals forge lifelong friendships, share laughter, and create cherished memories. Traveling, after all, is not merely about the places visited; its about the stories shared, the perspectives gained, and the moments that take your breath away. Ageless Adventures invites seniors to step into a world where age is but a number, and every passport stamp is a testament to the enduring spirit of exploration. So, let the adventure begin, and let the world be your timeless playground.

Creating a safe and comfortable living environment is essential for seniors who wish to age in place gracefully. With thoughtful design and practical adjustments, homes can be transformed into senior-friendly spaces that enhance independence and overall well-being. In this blog post, we will explore some valuable tips and design ideas to help you create a home that is safe, comfortable, and accessible for seniors, allowing them to maintain their independence and dignity.1. Remove Hazards: Start by eliminating potential hazards in the home, such as loose rugs, cluttered walkways, and low-hanging objects. Clear pathways ensure easy movement, reducing the risk of trips and falls.2. Optimize Lighting: Good lighting is crucial for seniors with reduced vision. Install bright LED lights in key areas like hallways, staircases, and entrances. Consider motion-activated lights to enhance safety during nighttime movement.3. Bathroom Modifications: Modify bathrooms with grab bars near the toilet and shower to provide support. Install a raised toilet seat and a non-slip bath mat to prevent slips. Consider a walk-in shower with a bench and handheld showerhead for added convenience.4. Kitchen Adaptations: Lower countertops and cabinets to a comfortable height, allowing seniors to access items without straining. Install pull-out shelves and easy-to-grasp handles on cabinets and drawers. Consider appliances with large, easy-to-read controls.5. Bedroom Comfort: Choose a comfortable mattress and install a nightlight to aid in nighttime navigation. Position the bed at an accessible height, allowing seniors to sit and stand with ease. Install sturdy handrails if necessary.6. Flooring: Opt for non-slip flooring materials, such as cork, rubber, or textured tiles. These surfaces provide traction and reduce the risk of slipping. Additionally, choose carpets with low pile to prevent tripping.7. Home Security: Invest in a home security system that includes medical alert features. This ensures that help is just a button press away in case of emergencies, providing peace of mind for both seniors and their caregivers.8. Technology Integration: Embrace smart home technology, including voice-activated assistants and remote-controlled devices. These innovations enhance convenience and enable seniors to control various aspects of their home environment effortlessly.9. Outdoor Considerations: Create a safe outdoor space with well-maintained pathways, non-slip surfaces, and adequate lighting. Install handrails on stairs and ramps, and consider raised garden beds for seniors who enjoy gardening without bending or kneeling.10. Regular Maintenance: Schedule regular home maintenance checks to ensure that all safety features are in good working condition. This includes checking grab bars, handrails, and other modifications for stability and durability.Designing a senior-friendly home is a thoughtful and meaningful process that greatly impacts the quality of life for aging individuals. By implementing these practical tips and design ideas, you can create a space that not only meets the physical needs of seniors but also promotes their emotional well-being and independence. With the right adjustments, seniors can continue to enjoy the comfort and familiarity of their own homes, ensuring a happy and fulfilling life as they age in place.