It’s no surprise to anyone who has engaged in the estate planning process already that there are plenty of strategies out there to help you accomplish your planning goals while also passing on as much wealth to the next generation as possible. Many of these tools, though, could still be subject to generation-skipping taxes or [...]
It is not yet clear how Congress will take action with regard to estate tax reform. It is extremely probable that estate tax reform will happen in the next two years, but it is currently no more than speculation to determine how this might influence your individual life. However, there are ten strategies that you [...]
Advanced directives, trust agreements and durable powers of attorney are all used to help clients on a regular basis when that client is approaching older ages. One additional step that often needs to be taken is considering a potential decline in your cognitive abilities. Running out of money is frequently at the top [...]
More than 10 years ago, a $110 million lawsuit was filed in Los Angeles Superior Court against an alleged trust mill. A trust mill, in that company in particular, are typically accused of duping senior citizens into purchasing annuities and using part or all of their retirement investments to do so. The individual selling these [...]
Up to two-thirds of baby boomers intend to work beyond age 65. Some of these never expect to retire at all. Some of the most common reasons of delaying retirement or continuing to work after your retirement age include the health benefits sponsored by your employer and the need for additional income. Many people plan [...]
Plenty of statistics indicate that up to 70% of Americans will need long-term care at some point in time. Just one significant long-term care event or the diagnosis of a cognitive condition can significantly alter your retirement plans. Many people assume that Medicare will help to pay for all of your long-term care expenses. However, [...]
A new study conducted by the TransAmerica Study for Retirement Studies identified that up to two-thirds of baby boomers intend to work beyond age 65. Some individuals have no plans to retire at all and at least half of the survey respondents expected to have at least some form of employment during that time. Some [...]
There is a good chance that you'll need help at some point in the future with everyday tasks like eating, dressing and bathing. You may also need medical care over an extended period of time. A 2005 study indicated that 69% of those individuals aged 65 and beyond will need long term care at some [...]
According to a new study conducted by Wilmington Trust, high net worth families are more comfortable talking about their money and how it will be distributed among beneficiaries than past generations did. The current generation holding the wealth is more comfortable sharing the financial details with their grandchildren and children who will eventually inherit those [...]
Long-term care insurance, which covers critical expenses like late life needs, nursing home care and at-home nursing care, is becoming too expensive for many retirees to be able to afford. This is an unfortunate discovery because many retirees are not appropriately prepared for the cost of long-term care. A study conducted by LifePlans determined that [...]
