Research shows that most of us will need some sort of end-of-life care. Many people choose to fulfill this need by obtaining long-term care insurance so their estate is not depleted by healthcare costs. There are several questions anyone considering the purchase of long-term care insurance should be asking, including: Will you need long-term care?…
DetailsTrusts have long been a favored estate planning tool of the wealthy because of the advantages they provide in protecting assets and preserving wealth through carefully considered distribution strategies. There are also several reasons why middle-class families would want to consider the use of a trust, including these: You want to control asset distribution. A…
DetailsWhen a loved one dies, do their debts die with them? The answer is, it depends. Here are some things you need to know about debts after the death of a loved one: Are heirs responsible for debts? Creditors have become increasingly aggressive in trying to collect on a deceased person’s debts from family and…
DetailsWomen live longer than men, make less money over their careers and have less in savings due to wage discrepancies and time taken out of the workforce to raise children — which is why it is important for women to know these important facts about estate planning: The unused portion of a deceased spouse’s estate…
DetailsRecent research on the financial ramifications of living together versus marrying for boomers over the age of 60 has found pros and cons in each of three important areas: Retirement — Marrying before the age of 60 can have adverse effects on retirement income, especially if you are receiving Social Security benefits from a late…
DetailsIn many ways, estate planning is a misnomer, as it leads most people to believe it’s all about money and taxes. In reality, estate planning is really about protection – for you and your loved ones. Regardless of the size of your bank account or your family, there are lots of good reasons to create…
DetailsMost of us will need long-term care for some period of time, but many people resist purchasing long-term care insurance because of the high cost of the annual premiums, which can run as high as $5,000. Of course, paying for long-term care out of your own pocket is vastly more expensive – hence the need…
DetailsThe biggest estate planning mistake anyone can make is failing to make a plan. Beyond ensuring your assets go to the proper heirs, an estate plan also helps you prepare for retirement and designates those who will make important health care and financial decisions for you in case you are unable to make them for…
DetailsProbably one of the most prevalent worries for parents of special needs children is the long-term care of that child once the parents are gone. There are ways to plan for the care of a long-term special needs heir via special trusts, including: Housing – A special needs trust allows parents to place assets in…
DetailsIt is certainly human nature to not want to contemplate our own demise; however, we should be viewing estate planning as a gift that we leave to our loved ones, the gift of an organized estate and protected assets. Here are our Top 5 reasons you should create an estate plan now: If you don’t…
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