There are times when you hear about celebrities passing away without having a solid estate plan in place. It can then be a mad scramble among interested parties who claim to be the "rightful heirs" and an unsavory circus of sorts can ensue that plays itself out in the courts. One of the reasons for this would be the same reason that a lot of people fail to plan for the future: they feel as though they are still quite young and death is a long way off. Therefore, they have a lot of time left … [Read more...] about Estate Planning News: Amy Winehouse Was Prepared
401(k) Accounts & Retirement Planning
They say that experience is the best teacher, but unfortunately it is something that you often get just after you need it. It is true that we learn from our mistakes, and in many cases these errors are blessings in disguise because the lessons that you do in fact learn serve you in good stead throughout the rest of your life. However, there are some mistakes that you make that you can never fully recover from, and this is why it is so important to take retirement planning seriously. If you … [Read more...] about 401(k) Accounts & Retirement Planning
HECM Can Fund Assisted Living
If you want to be comprehensively prepared for the future you can't overlook things that you may not be especially anxious to think about. There are those who cross their fingers, stick their heads in the sand, and hope for the best, but these are the people who find themselves totally unprepared for contingencies that arise. Making prudent preparations for things that may or may not happen is wise because these advance plans will be welcome should they be needed, and if they are not all the … [Read more...] about HECM Can Fund Assisted Living
Estate Planning: Life Insurance Plays A Role
We like to highlight all of the various tools that are utilized in estate planning on an ongoing basis, and with this in mind let's take a look at life insurance. Life insurance is a foundational estate planning tool, and in fact the life insurance policy that is offered as a benefit in most workplaces is the first exposure that many people get to estate planning. Your first policy is probably only going to need to be sufficient for you as a single person, but when you get married and someone … [Read more...] about Estate Planning: Life Insurance Plays A Role
Choosing A Long-Term Care Facility In Advance
When you are planning for your retirement years you are probably envisioning travel and leisure times, and this is as it should be. But if you want to be comprehensively prepared you would do well to consider all of the eventualities of aging. There may come a time that people call the "twilight years" when your life slows down and you may in fact find it difficult or impossible to take care of your personal needs without assistance. Though this is not the most pleasant thought in the world, it … [Read more...] about Choosing A Long-Term Care Facility In Advance
Elder Law Matters To Take Into Consideration
It is important to understand the fact that a comprehensive plan for the future involves more that just planning for the distribution of your assets to your loved ones after you pass away. Most people are aware of the fact that retirement planning is important, but many do not think about the period of time that will follow their active retirement years. The reality is that there are some elder law considerations that should be taken into account as well, and one of these is the cost of … [Read more...] about Elder Law Matters To Take Into Consideration
Estate Planning Tool To Prevent Asset Erosion
When you are trying to map out an intelligent plan for the future one of the first things you must do is address the realities of the estate tax. At the current time the estate tax exclusion is $5 million and the top rate of the tax is 35%. This means that the portion of your estate that exceeds $5 million is subject to a tax that will take more than a third of it. As if this arrangement wasn't bad enough, these numbers are scheduled to take a turn for the worse. When the Tax Relief, … [Read more...] about Estate Planning Tool To Prevent Asset Erosion
Straightforward Inheritance Planning Tools
Many people are intimidated by the process of estate planning because trusts, wills, advance health care directives, and the like can seem extremely complicated. While it is true that there are some financial instruments used in the field of estate planning that are a bit intricate, there are also some simple and straightforward inheritance planning tools that can be utilized. They're not necessarily going to be the only components to your estate plan but they can certainly be used effectively … [Read more...] about Straightforward Inheritance Planning Tools
A Look At Why Retirement Planning Is Important
People have a tendency to put off things that are not immediately relevant, and the reality is that this often results in difficulties later on. Retirement planning is one of the things that falls into this category, with many people being in complete denial about the matter. Others feel as though they will start planning at a later date, and then there are those who simply assume that they'll have adequate resources when the time comes without engaging in specific planning or goal setting. … [Read more...] about A Look At Why Retirement Planning Is Important
Don't Overlook Incapacity Planning
A lot of people like to say "it will never happen to me," but the reality is that incapacity does strike a significant percentage of people who reach an advanced age. This is something to take very seriously, and if you want to cover all of your bases you should prepare for the possibility pragmatically and intelligently. The ubiquity of Alzheimer's disease is something that many individuals are simply not aware of. According to the Alzheimer's Association, 13% of people who reach the age of 65 … [Read more...] about Don't Overlook Incapacity Planning
