When you are planning for retirement Social Security is probably going to be a subject that is on your mind. In fact, Social Security income is the financial foundation of most people who receive their benefit. Exactly how much you receive is going to vary depending on how much you paid into the program over the years and when you retire. If you were born in 1960 or after you become eligible to receive your full Social Security benefit at the age of 67. If you were born in 1954 … [Read more...] about Social Security: What Is The Maximum Benefit?
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Addressing Assisted Living Expenses
There are a lot of things to consider when you are engaged in long-term financial planning. Intelligent planning is going to require making budget projections and this can be challenging when you are looking decades into the future. Information gathering is key, and with this in mind you would do well to be cognizant of the current state of long-term care costs. Last year the average cost for a year-long stay in a nursing home in the United States reached $87,200 if you wanted to stay … [Read more...] about Addressing Assisted Living Expenses
Selecting Potential Future Decision Makers
If you want to be comprehensively prepared for the future you have to be levelheaded and mature about accepting some of the challenges that go along with reaching an advanced age. Nobody relishes the idea of becoming unable to make sound decisions. But the cold hard truth is that upwards of 40% of people who reach the age of 85 suffer from Alzheimer's disease. As most people know Alzheimer's is a form of dementia, and dementia can result in the inability to comprehend … [Read more...] about Selecting Potential Future Decision Makers
Financial Assistance For Former Service Members
Long-term care expenses are something to budget for when you are making preparations for the latter portion of your life. Some people are under the impression that Medicare will cover all their health care needs once they reach the age of eligibility. In fact, Medicare doesn't pay for long-term care expenses and statistics tell us that most people who reach the age of 65 will someday need living assistance. With the above in mind it is useful to note that people who have served in … [Read more...] about Financial Assistance For Former Service Members
Estate Tax Parameter Changes Loom
Indianapolis estate planning attorneys will always remind their clients that estate planning is an ongoing effort. Things don't stand still, and as time marches on events invariably take place that render your existing estate plan obsolete. If you procrastinate about making the necessary adjustments you could be placing your family members at risk on one level or another. With the above in mind you would do well to understand the fact that there are some estate tax parameter … [Read more...] about Estate Tax Parameter Changes Loom
In-Home Care Is An Option
When you look into the costs associated with long-term care these days you may become concerned. Medicare does not pay for long-term care, so you have to make other arrangements and these expenses could be considerable. According to a MetLife survey in 2011, the average annual cost for a day in a private room in a nursing home in the United States was $239. If you multiply that by the 365 days there are in a year you are looking at over $87,200 annually. The United States … [Read more...] about In-Home Care Is An Option
The Role Of A Probate Attorney
The typical layperson is probably not going to have a lot of knowledge about the intricacies of estate planning. There is certainly nothing wrong with this because everyone has his or her own area of expertise and you can't know everything about everything. With the above in mind, some people are under the impression that a last will is something that is only read among family members. In fact, other interested parties have a right to seek satisfaction from the estate. In … [Read more...] about The Role Of A Probate Attorney
Beware Of Transfer On Death Accounts
People sometimes pick up on ideas that circulate regarding estate planning without obtaining professional advice. As a result they may take particular actions that are not going to serve the best interests of their families in the long run. Legal assistance is essential when you are serious about making preparations for the future. A little bit of information is a dangerous thing and when you proceed without the guidance of an Indianapolis estate planning attorney your family may … [Read more...] about Beware Of Transfer On Death Accounts
Author's Muddled Estate Provides A Useful Lesson
They say that experience is the best teacher, and if you have been around the block a few times you are well aware of how true this can be. However, in addition to the hard experiences that you have had directly you can sometimes learn from the experiences of others. This is true when you look at the estate planning mishaps of some celebrities and other high profile individuals. With the above in mind let's look back to 2004 when the author Stieg Larsson passed away. He … [Read more...] about Author's Muddled Estate Provides A Useful Lesson
Living Trusts: A Breakdown
Revocable living trusts are a good alternative to last wills largely because of the fact that they enable the transfer of assets to your family members outside of the process of probate. Why would you want to avoid probate? There are a few reasons, and perhaps the most pressing one is the fact that there are significant expenses that go along with the probate process. By the time all is said and done the value of your estate can be shaved down by perhaps 5% to 10%, and this is of … [Read more...] about Living Trusts: A Breakdown
