There are two ways you can have long-term care provided for you: 1. Long Term Care Insurance is an insurance product that helps pay for the cost of long-term care which generally covers home care, assisted living, adult daycare, respite care, hospice care, nursing homes, etc. Each long-term care plan varies based on the age,…
The start of a new year is a good time to look back at what personal and financial changes have occurred over the last year and how they may impact your estate plan. Even if you don’t have to worry about an estate tax, you still should review your estate plan to ensure you are…
When was the last time you checked your IRA accounts to see who you named as beneficiary? Certain types of accounts and insurance policies, which provide for a beneficiary designation, such as 401(k) plans, IRA accounts, life insurance policies and bank and brokerage accounts are not generally part of your probate estate when you die….
No one wants to think about what would happen if they or a family member suddenly became ill or was seriously injured. Unfortunately, when we don’t plan for such possibilities, it can cost us in terms of loss of control over medical decisions, added stress and significant financial and legal problems. There are 3 important…
As we all know from the recent articles and news reports, the new Tax Cuts and Jobs Act of 2017 has many aspects. Although the new law did not repeal Federal estate and gift taxes, it has temporarily doubled the exemption amount applicable to each person. But be warned, the disparity between the Federal estate…
Like it or not, Donald Trump is the President of the United States. The landscape for estate planning, and specifically, estate tax planning, may greatly change under a Trump administration. Regardless of whether Trump’s proposals are passed in 2017, it’s a good time to review your estate plan and understand how it could be impacted…
No matter the size of your estate or the complexity of your circumstances, it is important to have the proper estate planning documents in place to protect you, your family and your assets. Unfortunately, many people fail to have any plan in place, and even if they have something, they are often outdated, incomplete or…
Now that your child has reached the age of 18 and may be starting college or has entered the workforce, there is something very important that you as parents should do, and that is to ask your son/daughter to sign a Power of Attorney and a Healthcare Proxy naming you as their agent. Why? In…
