Most employees of companies do not have to concern themselves with the future of the company after they retire or pass away. Of course loyal individuals certainly care about the company that they invested so much energy into over the years. But the truth is that when the time comes to step away the company will simply self-navigate into the future. Conversely, succession planning is a very prominent concern for business owners who are planning for retirement and their eventual … [Read more...] about Succession Planning: What Lies Over The Horizon?
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Estate Planning Advice: Go To The Source
If you are looking for expert advice about something you do not go to a generalist. You do not go to a general practitioner when you have an orthopedic problem that requires a particular brand of expertise. Your health is of tantamount importance and you want to make sure that you are getting the best possible care given the specific nature of the situation. This same mentality applies to estate planning. It involves arranging for the distribution of significant stores of … [Read more...] about Estate Planning Advice: Go To The Source
Inheritance Planning With Sentiment In Mind
Inheritance planning is on the one hand a legal matter as you work with a good estate planning lawyer to optimally position your assets. One thing to concern yourself with is going to be the federal estate tax, and you also have to consider the dynamic of your family and the proclivities of the recipients. Depending on the precise circumstances any number of approaches can be appropriate. There is however another side of things to consider. Distributing liquid assets is one thing, … [Read more...] about Inheritance Planning With Sentiment In Mind
Social Security: Where Do You Stand?
While it is best to view Social Security as a form of supplemental income rather than a foundation if it is at all possible, this is the ideal rather than the overarching reality. In fact, the Social Security Administration tells us that Social Security is the primary source of income for most people who reach the age of eligibility. Regardless of your anticipated level of reliance on Social Security you are going to want to know how much you can expect to receive when you qualify for … [Read more...] about Social Security: Where Do You Stand?
Informed Planning For Service Veterans
Having a comprehensive understanding of the resources that you have to draw from is key when you are formulating a plan for the future. It is not fair to expect the typical layperson to be apprised of intricate rules governing certain benefit programs, and this is of course where expert advice comes in. Without tapping into professional expertise you may actually overlook some of the benefits that you are eligible to receive, especially if you are a veteran. One of these is the … [Read more...] about Informed Planning For Service Veterans
Limited Gift Giving Window Exists
There is a Federal gift tax in place that is designed to prevent people from giving away their resources while they are still alive in an effort to circumvent the estate tax. It carries the same rate as the estate tax which is 35% as of this writing. These two levies are said to be "unified," so the exclusion that exists encompasses both your estate and any gifts that you give that are not exempt for one reason or another. Under current laws the unified exclusion is $5.12 million, … [Read more...] about Limited Gift Giving Window Exists
Estate Tax: Clarity May Emerge During Election Season
We are in a familiar if not altogether comfortable situation in 2012 with regard to the estate tax parameters. Uncertainty reigns, but we may begin to see some clarity as the election season heats up this year. Back in 2010 we had a midterm election, and the question of possibly extending the Bush era tax cuts was part of the debate. You may remember that a tax relief measure was in fact passed at the end of that year that is now called the Tax Relief, Unemployment Insurance … [Read more...] about Estate Tax: Clarity May Emerge During Election Season
It Can Take Time To Accumulate Retirement Resources
It is understandable that in many cases young adults are focused on the present. They are more in touch with the experiences of high school and college than they are with the realities of middle age and beyond. However, people who find themselves financially prepared for every stage of life are generally those who have the maturity to plan ahead in advance when others did not. Retirement does not just fall into your lap. Yes, we do pay into Social Security and Medicare but … [Read more...] about It Can Take Time To Accumulate Retirement Resources
Don't Jeopardize Special Needs Benefits
You have to see the big picture and think everything through when you are arranging for the transfer of assets to those that you love after you pass away. Each situation is different and you should carefully evaluate the recipients' needs and proclivities before taking any action. This is something that is very important when it comes to making provisions for someone in the family who may have special needs. People with disabilities often take advantage of programs such as Medicaid … [Read more...] about Don't Jeopardize Special Needs Benefits
Too Much Debt Can Delay Retirement
If you are wise you will save early and often so that you have sufficient resources available to you as the typical age of retirement approaches. A lot of people find themselves unprepared because they take no steps to augment their Social Security benefits, and we are seeing more and more people say that they will never be able to retire because of financial need. While it is clearly important to build a retirement nest egg, you must also keep a close eye on the debt that you are … [Read more...] about Too Much Debt Can Delay Retirement
