Estate Planning can be seen as a purely financial endeavor that directs the transfer of assets to your loved ones after you pass away. But if you start to think about the future as you are executing a plan, you may start to consider the holistic picture. People don't usually pass away suddenly when they are in good health, although this does of course happen when individuals are involved in fatal accidents. The natural process of aging brings certain realities along with it, and … [Read more...] about Addressing A Holistic Picture
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Is Your Estate Plan Up To Date?
When you get the oil in your car changed, they place a little sticker in the corner of the windshield to remind you of when you need to bring the car back in for another lube. When you plan your estate initially there is no such sticker attached to your documents, but you should recognize the fact that periodic updates are very likely to be necessary. With it being a new year, you may want to consider an annual estate plan review. As we all know, there are things that happen in … [Read more...] about Is Your Estate Plan Up To Date?
Community Spouse Medicaid Resource Limit Increased
A lot of people are amazed when they find out how expensive long-term care is these days. If you calculate the average annual cost for a private room in a nursing home coupled with the average length of stay the reality is that you may be looking at an expense that exceeds $200,000 toward the end of your life. This is obviously going to be difficult for a lot of people to handle out-of-pocket, and Medicare does not pay for long-term care. An alternative that exists would be to … [Read more...] about Community Spouse Medicaid Resource Limit Increased
A Comfortable Future Requires Intelligent Planning
To be perfectly fair it can take some time for the typical individual to mature and see the big picture from a financial perspective. But in the end, excuses really aren't going to pay your bills. The truth of the matter is that most Americans who stick to a consistent career path have a comfortable retirement within their grasps. Yet, many people will never be able to retire because they did not take advance planning seriously. Some of those old sayings are still around … [Read more...] about A Comfortable Future Requires Intelligent Planning
Acceptance, Recognition, & Action
Statistics tell us that a surprising number of Americans are going through life without executing any estate planning documents. Less than half of adults have an estate plan in place, and one of the reasons for this is because of the fact that they are uncomfortable with the subject of death. How you feel about this emotionally or spiritually is a purely personal matter. But from a practical perspective, statistics indicate that no less than 100% of Americans will die someday. … [Read more...] about Acceptance, Recognition, & Action
Balancing Inheritances
Life insurance serves a number of purposes in the estate planning realm, and it is most commonly utilized as a vehicle of income replacement. Many younger adults fail to make preparations for the future because they feel as though this is something that only older people have to concern themselves with. But in fact, the children of senior citizens are probably going to be self-supporting. When you have dependent children estate planning is quite relevant, and making sure that you … [Read more...] about Balancing Inheritances
Take Action For The Benefit Of Your Loved Ones
Estate planning is something that you do for the benefit of those that you love, and there can be more to it than getting financial resources into their hands. It is useful to sit back and envision what they will be facing when you do in fact pass away in an immediate sense. When a loved one dies it is a shocking event even if you anticipated it because you can't quite wrap your head around how you will feel even when you know that it is inevitable. During a time like this you … [Read more...] about Take Action For The Benefit Of Your Loved Ones
Blended Family Solution
Because of the high incidence of divorce in the United States at the present time there are a lot of blended families out there, and there are many different types of scenarios to address in an estate planning context. We are going to take a look at a relatively common one here and offer a typically utilized solution. To explain by way of example, let's say that you married your childhood sweetheart and had three children along the way. You accumulated assets as a couple and you … [Read more...] about Blended Family Solution
Asset Protection Can Be Key Consideration
There are a number of different factors to consider when you are engaged in inheritance planning, and one of them would be details specific to the people who comprise your inheritance list. It is not always as simple as handing over a lump sum bequest directly, because for one thing there can be estate tax implications that must be addressed. Some heirs may not be ready to handle a large sum of money, and for these individuals you may want to include stipulations, perhaps through the … [Read more...] about Asset Protection Can Be Key Consideration
Consider An RLT
You may have heard the expression "the right tool for the right job," and a lot of times what separates the professionals from the rest of us is the fact that they have the right tools at their disposal. When it comes to estate planning there are different tools that are utilized under varying circumstances. There can be more to it than simply drawing up a last will, and this is why it is advisable to work with an Indianapolis estate planning lawyer when you are contemplating your … [Read more...] about Consider An RLT
