What’s the right direction for you in planning for the help you might need in the future? Seven in ten of us will need long-term care at some point in our lives. Here are possible paths for covering the assistance you may need. How Will You Obtain the Care You Need? … [Read more...]
You Never Know: Planning for the Unexpected
This article examines the deaths of two people who died from doing very typical things. You never know what risks might be around the corner, even in seemingly safe endeavors, so you should be prepared. The article looks at the elements of a basic plan. You Never Know: Planning for the Unexpected … [Read more...]
Incapacity Planning
Nobody wants incapacity, not for yourself and not for your loved ones. But planning for that possibility can avoid complications and increase options. The article discusses the elements of incapacity planning and the need for flexibility to do Medicaid planning. It discusses how a trust with Medicaid triggers can allow that. Incapacity Planning … [Read more...]
Basics of Estate Planning: IRAs
IRAs are complex assets to handle in an estate plan. There are tax issues during life and after death. Read this article to find out more. Basics of Estate Planning: IRAs … [Read more...]
What Are POD Accounts?
When you are opening an account at a bank you may be offered the opportunity to select a payable on death (POD) option. This can also be done at some financial services companies that you may use when you buy and sell securities. With these accounts you name a beneficiary. As the name suggests, when you as the primary account holder pass away the assets that are left in the account become the property of your beneficiary. There are some positives that come along with these accounts. They … [Read more...]
Workplace Introduction To Advance Planning
Being proactive about seeking out estate planning advice is certainly a good idea. It is important to recognize the fact that you are gambling with the well-being of your loved ones when you are going through life without an estate plan, and this is really not acceptable. While it is wise to take action, in fact advance planning opportunities are usually going to come to you. Most people are first introduced to a basic plan for the future when they get their first "real job." A high … [Read more...]
Incentive Trusts Can Provide Guidance
It is a good feeling to recognize the fact that you will be able to provide significant financial resources to your loved ones after you pass away. However, coming into a large sum of money when you are not fully developed as a human being is not always a good thing. People who are in a position to bequeath life-changing amounts of money to their family members have had these concerns for generations. One solution is to make an heir the beneficiary of an incentive trust. As the name would … [Read more...]
Be Proactive About Asset Protection
It is advisable to sit down and devise a long-term financial plan with the benefit of expert guidance early on during your professional career. Foresight is the key to a successful future in many ways, and your unique situation is going to dictate exactly how you should proceed. Along these lines you may want to consider the value of asset protection. This can be important for a wide range of individuals, but it is absolutely essential for people who are involved in businesses or professions … [Read more...]
DIY Estate Planning: An Easy Answer?
You can find instructions and various tools on the Internet that will assist you as you take on DIY projects. There is certainly nothing wrong with gathering information and using it to get something done for yourself. You may save money and actually enjoy the endeavor. However, some things are better left to professionals, and this is especially true when the stakes are high. With the above in mind you would do well to steer clear of the Internet marketers claiming that estate planning is … [Read more...]
Your Estate May be Subject to State Inheritance Taxes
Most taxpayers may be able to avoid federal estate taxes in 2012. According to the Federal tax laws, estates valued at less than $5 million can avoid estate taxes for the 2011 tax year in some cases. For decedents who died in 2011, the exemption amount is $5 million. For decedents who died in 2012, the exemption increases to $5.12 million.. Thus, if you die with less than a $5 million taxable estate, chances are, your estate will not owe federal estate income taxes. However, your estate may have … [Read more...]
