Financial Planning

A letter of instruction is a legally non-binding document that gives your heirs information crucial to helping them tie up your affairs. Without such a letter, it can be easy for heirs to miss important items or become overwhelmed trying to sort through all the documents you left behind. ...

Everyone should have a durable financial Power of Attorney, durable health care Power of Attorney and a Living Will Declaration. Consider whether you want your new spouse to have the authority to deal with your financial affairs or if you plan to keep your finances separate from your spouse’s. A prenuptial agreement may dictate how that is handled. Consider whether you would rather have your children making medical decisions for you. This may include end-of-life choices, so be careful who you choose. ...

The Social Security Administration has introduced the expansion of online services for residents of Ohio available through its my Social Security portal at www.socialsecurity.gov/myaccount. The my Social Security is a secure online hub for doing business with Social Security, and about 50 million people have created an account. In addition to Ohio residents replacing their SSN card through the portal, current Social Security beneficiaries can manage their benefits online—change an address, adjust direct deposit, obtain a benefit verification letter, or request a replacement SSA-1099 ...

Benefits the Social Security Administration provide can help the families of military service members. For example, widows, widowers and their dependent children may be eligible for Social Security survivors benefits. You can learn more about those benefits at www.ssa.gov/survivors. ...

“I think it’s been easy for some people to spend too much time online, researching about the coronavirus, and I think they’re looking for answers that aren’t there,” said Dr. Dan Allan from Cleveland Clinic. “And I think you have to limit that and it’s okay to be updated on the news and to keep educated, but I think, for some people, it bleeds into an obsession.”  ...

If your parents are getting on in years, you may be helping them with their finances and other matters, such as medical visits and shopping. You may live close by and be able to visit weekly or more often. Or you may live far away and were visiting every few months before the coronavirus struck. But a lot has changed. Try these strategies to keep up with what they need. ...

We celebrate Teacher Appreciation Week from May 4 through May 8 and honor all educators who prepare our students for the future. That’s why the Social Security Administration provides eas- to-access, shareable online resources for teachers to engage students and educate them on Social Security. ...

If you want to apply for either your own or your spouse’s benefits, you must be at least 61 years plus 8 months old. Visit www.ssa.gov/benefits/retirement to learn more about the process. Explore more about your eligibility by visiting Social Security's Benefits Planner page at www.ssa.gov/planners/retire/divspouse.html for more information. ...