The cold hard fact of the matter is that retirement is not something that everyone is entitled to by virtue of contributing into the Social Security program. It is simply a matter of math. You can retire when and if you have the financial resources to do so, and it has nothing to do with celebrating a particular birthday. If you register on the Social Security Administration website you can access your personal statement at any time. This will tell you what you can expect to receive … [Read more...] about What Happens to Your IRA After You Die?
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Can You Apply for Social Security Online?
The Social Security program is important to seniors who are retiring. However, we must emphasize the fact that your benefit alone is probably not going to be enough to support the type of retirement that you may have always envisioned. If you want to devise a plan that includes Social Security but is not entirely dependent on it you would do well to speak with a local Indianapolis financial planning attorney who has a history guiding people toward the fruition of their long-term … [Read more...] about Can You Apply for Social Security Online?
Estate Planning on the Practical Level
Executing legally binding documents with the assistance of a good estate planning lawyer is definitely a large part of what estate planning is all about. But in addition to the legal side of things you must also take practical matters into account if you want to leave behind a turnkey situation for your family. If you use a last will to direct your future asset transfers you're going to need an executor to actually handle the hands-on tasks. This individual is going to require … [Read more...] about Estate Planning on the Practical Level
Should Unsellable Sculpture Be Subject to Estate Tax?
The estate tax is very controversial in some quarters, and those who decry the tax often mention the fact that it is an instance of double taxation. You pay taxes all of your life on your income, and whatever you have left over at the time of your passing is the after-tax remainder. The critics ask why this after-tax remainder should be taxed again. The above makes sense, but the death tax is a fact of life at the present time regardless of how you feel about it. To get an idea about just … [Read more...] about Should Unsellable Sculpture Be Subject to Estate Tax?
Larry Hagman Left Valuable Property Behind
Fans of the classic television series Dallas certainly remember Larry Hagman well. He played the memorable character J.R. Ewing, the man that viewers loved to hate. We lost Larry Hagman on November 23. He had been battling throat cancer and was being treated at the Medical City Dallas Hospital in Dallas, so ironically he passed away in the city that he is so intimately connected with via his work as an actor. According to reports the estate of Larry Hagman includes some … [Read more...] about Larry Hagman Left Valuable Property Behind
Elder Law Report Explains Medicaid Planning
People who are serious about preparing for the future should certainly consider the matter of long-term care. There are some misconceptions out there about the Medicare program. Some individuals go forward living in the moment without actually learning all the details. Sometimes they find out some disturbing facts when it is too late to react. Medicare will not pay for an extended stay in a nursing home or an assisted living community. And if you are thinking that you probably … [Read more...] about Elder Law Report Explains Medicaid Planning
What Separates Those Who Retire From Those Who Can't?
Most people are aware of the fact that the baby boomer generation is reaching the typical retirement age at the present time. This is resulting in huge numbers of people being faced with the prospect of putting their working years behind them. Statistics are indicating that a high percentage of these individuals are really not ready to retire, and many of them will never be able to do so because they do not have sufficient financial resources. One of the problems is a misconception … [Read more...] about What Separates Those Who Retire From Those Who Can't?
Gibb Family Must Remain Patient During Probate
When you use a last will to direct the transfer of your assets the heirs to the estate do not receive their inheritances until the estate has been probate and closed. In simple cases it can take months for the process to run its course. When more complicated circumstances exist it can actually take years. This time consumption is one of the major reasons why people avoid probate. With the above in mind the case of the recently deceased singer Robin Gibb is an interesting case in … [Read more...] about Gibb Family Must Remain Patient During Probate
Indianapolis Living Trust Report Available for Download
Here at Frank & Kraft we are sincerely committed to providing members of the community with good estate planning information. We go about this in a number of different ways, and one of them is by passing along a steady stream of useful knowledge on this blog. We also conduct outreach efforts throughout the area in the form of our free seminars. In fact, there are a number of seminars coming up in January and we will pass along the details shortly. In addition to the above … [Read more...] about Indianapolis Living Trust Report Available for Download
MetLife Releases 2012 Long-Term Care Survey Results
The results of the brand-new 2012 MetLife Mature Market Institute survey on the state of long-term care costs have been made public. Not surprisingly, the cost of residence in nursing homes and assisted living communities throughout the United States continues to rise. Before we share some of the statistics we would like to emphasize how important it is to plan ahead for these potential expenses. Medicare will not pay for an extended stay in a nursing home or assisted living … [Read more...] about MetLife Releases 2012 Long-Term Care Survey Results
