How Can I Leave A Tax-Free Inheritance To My Spouse from Paul Kraft The death tax carries a robust rate that can significantly erode the wealth that you are passing along to your loved ones. Learn more about Indiana tax-free inheritance in this presentation. … [Read more...] about How Can I Leave A Indiana Tax-Free Inheritance To My Spouse
Retirement Planning
Why Is Retirement Planning Essential?
Retirement planning may seem like something that is not necessary, because there is a societal plan already in place. Throughout your life, you earn retirement credits when you are paying taxes. As a result, you will qualify for Medicare at the age of 65, and you will start to receive Social Security when you reach the age of eligibility. Your confidence may be further bolstered by the fact that you have been contributing into a 401(k) plan through your place of employment. While the above … [Read more...] about Why Is Retirement Planning Essential?
Can an IRA Be Part of My Estate Plan?
When you are planning for retirement, your individual retirement account (IRA) may well be the centerpiece around which you build your nest egg. There are two different types of individual retirement accounts that are widely utilized: traditional individual retirement accounts, and Roth IRAs. They are similar in some ways, and there are also major differences. Traditional IRAs You can start to take penalty-free withdrawals when you reach the age of 59.5 with either type of … [Read more...] about Can an IRA Be Part of My Estate Plan?
We're Still Healthy, Is Medicaid Planning Relevant?
When you are preparing for the eventualities of aging Medicaid planning may well be relevant. This is because of the fact that Medicare doesn't pay for long-term care, and most people will need help with their activities of daily living eventually. It is not a simple matter of getting out your checkbook. If you combine the average length of stay with the average cost of nursing home care the figure is going to be in the vicinity of $200,000 using today's prices. The costs of … [Read more...] about We're Still Healthy, Is Medicaid Planning Relevant?
Retirement Planning in Indiana: Know the Facts
When you are looking forward toward retirement and otherwise preparing for the eventualities of aging you need to know all of the relevant facts about retirement planning in Indiana. One of the best ways to go about this type of planning is to do it with the assistance of a licensed elder law and retirement planning attorney. This having been stated, there is a certain amount of research that you can do online to prepare for your consultation so you can ask the right questions. We … [Read more...] about Retirement Planning in Indiana: Know the Facts
Social Security FAQs Answered
The years can pass by quickly, and before you know it the prospect of collecting Social Security may start to become relevant to you. There are some basic questions that people generally have, and we would like to answer them here. When will I become eligible for Social Security? This is a seemingly simple question that actually has multiple answers that are not entirely simple. You can apply for your benefit when you are as young as 62. However, if you do this you will … [Read more...] about Social Security FAQs Answered
Access Our Estate Planning Report Library
People who have absorbed in-depth information about any particular subject are going to make better decisions than those who are not fully informed. This certainly extends into the realm of estate planning. On the most basic level people think about estate planning as the act of drawing up a last will that divides a pie of sorts among family members. In fact there is a bigger picture to consider. A last will may not be your best choice for transferring assets. If you … [Read more...] about Access Our Estate Planning Report Library
Planning for the Stages of Aging
If you think about estate planning you might reduce it to the act of drawing up a last will to express your final wishes regarding monetary assets. This is a rather closed viewpoint because it doesn't really address the stages of aging. The majority of people don't pass away without going through these stages, and it takes intelligent advance planning to prepare for them. Retirement Planning When you reach the age of Social Security eligibility you do not magically gain the … [Read more...] about Planning for the Stages of Aging
The Estate Planning Value of Roth IRAs
Individual retirement accounts are obviously useful for those planning for retirement, but one type of IRA also has estate planning value. Traditional individual retirement accounts are designed to allow you to make contributions before you pay taxes. The assets in the account grow over the years and you are not taxed upfront. Once you reach the age of 59 1/2, you can start taking withdrawals without being penalized. However, you are going to have to pay income taxes on your … [Read more...] about The Estate Planning Value of Roth IRAs
Chained CPI Part of Proposed Budget
The budget that is being proposed by the executive branch for 2014 includes a shift toward calculating inflation via the use of a chained CPI or Consumer Price Index. The government has been using the Consumer Price Index for Urban Wage Earners and Clerical Workers to determine the rate of inflation. This determination is utilized to provide cost-of-living adjustments for people who are receiving Social Security benefits. Going to a chained CPI is going to save the program money, but … [Read more...] about Chained CPI Part of Proposed Budget
