Planning for your retirement is vitally important so you don't end up without the income that you need to live on as a senior-- and that means you need to understand your retirement account options. A retirement planning lawyer at Frank & Kraft can assist you with evaluating different kinds of retirement accounts that can provide you with generous tax breaks. Our legal team can also work with you to understand income limits, contribution limits, and pros and cons of each different kind of … [Read more...] about Retirement Account Options
Indianapolis elder law lawyers help people of all ages to prepare for their futures. We don't just help seniors and we don't just help people who are sick or at the end of their lives. We also assist people who are young, middle aged, and older to address the issues that matter to them when it comes to taking care of their families and assets. One of the key ways that Indianapolis elder law attorneys provide assistance in planning for the future is providing advice about making a … [Read more...] about Can You Get Tax Breaks for Retirement Savings?
Indianapolis retirement planning lawyers help seniors to make plans for a secure retirement so they will not need to worry about how to support themselves during their golden years. Unfortunately, a substantial number of people who are in retirement or who are nearing retirement do not have enough money saved to live comfortably throughout their lifetimes. Many people believe they can rely on Social Security to pay for costs of living during retirement, but unfortunately this is not … [Read more...] about Indiana Seniors Increasingly Seeking Help from Food Bank
If you’re serious about your estate planning and haven’t yet created an effective retirement plan, you could be in for a rude awakening later in life. Without a plan to secure your retirement, your estate planning efforts could be for naught. Anything that you thought you’d be able to leave behind for your heirs is instead likely to be consumed by the costs of your own retirement. The good news is that there are some wonderful retirement planning options out there, including the Roth IRA. In … [Read more...] about The Roth IRA and Your Retirement Plan
How Retirement Planning Can Impact Your Estate Planning StrategyEmployment-based retirement plans are still an important part of many Indiana residents’ portfolio, but many people in the state are still only somewhat aware of how those plans can impact their end-of-life planning efforts. According to recent estimates, about 63% of all workers in Indiana have some type of access to retirement plans offered or sponsored by the companies that employ them. About 57% of those employees actually … [Read more...] about How Retirement Planning Can Impact Your Estate Planning Strategy
If you or an elderly loved one have been assuming you could escape the high costs associated with nursing home care by relying on in-home care, the latest Genworth Financial study on long-term care costs suggests that you’re at least partially correct. Much has been said and written in recent years about the continual rise in nursing home costs across the country – a trend that has seen the cost of a private long-term care room in the Indianapolis area soar to more than $88,000. According to the … [Read more...] about Study Suggests Indianapolis In-Home Care Costs Are Rising
You probably have a retirement dream. After you have put your working years behind you, there is a lot of living left to do. Are you on track to live the retirement dream? Have you given retirement planning any thought? If you are not working within a cogent plan that leads to a comfortable future, action is required. Our firm can help you put a solid plan in place that culminates in the fruition of your long-term financial goals. Retirement planning is a very important piece of the … [Read more...] about Retirement Planning: Will You Be Ready?
When you are looking ahead toward your senior years, you may contribute into an individual retirement account. An IRA can definitely help you accumulate a nest egg that you can draw from during retirement. However, an individual retirement account can also be part of your estate plan under certain circumstances. There is a concept called the stretch IRA that can be of value when you are planning your estate. Before we look at the stretch IRA, we will provide some general information about … [Read more...] about What Is a Stretch IRA?
It can be easy to go through life with the assumption that government benefit programs for senior citizens will provide you with a suitable retirement when you attain senior citizen status. In reality, the cold hard facts tell a different story, and you should understand them thoroughly if you want to be able to enjoy your golden years with comfort, opportunity and security. Social Security Limitations When it comes income, you may be under the impression that your Social Security benefit … [Read more...] about There Will Be No Social Security COLA for 2016
People sometimes hear incomplete information about government programs for senior citizens. As a result, they make certain assumptions, and they can harbor these misconceptions for extended periods of time. The ultimate outcome can be less than ideal, because plans may have been made based on sketchy information. This enters the picture when it comes to Social Security eligibility. You may have heard that you can start to draw a Social Security direct deposit when you are 62 years of age. … [Read more...] about Can I Collect Social Security When I'm 62?