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Life insurance isn’t taxable to beneficiaries but there can still be a tax involved. An Irrevocable Life Insurance Trust or “ILIT” can be a key part of your overall estate plan, according to JD Supra in the article “Estate Planning: The Irrevocable Life Insurance Trust“. An ILIT can be used to take the life insurance […]
Social Security options need to be approached carefully. Many people have been known to confuse “Restricted Application” with the “Claim and Suspend” strategy and that can cause some problems, according to Forbes in “Put Thousands In Your Pocket By Taking Advantage Of the Social Security ‘Restricted Application’“. Both tactics require you to be at Full […]
If the clients wait until the last minute, panic can set in. A woman and her team focus on the difficulties of the work as well as the emotional challenges faced by Baby Boomers who opt to downsize, according to Columbus CEO’s article “Estate Planning and Retirement: How to Downsize Like a Diva.” One of […]
Offers to leave your job with compensation are growing at a considerable rate. The offering of early retirement has grown tremendously in the U.S. However, it is important to think the options through carefully before making your decision, according to Money in “This Is the Only Time You Should Accept an Early Retirement Offer“. Job […]
How many people over the age of 45 do not have a prepared will? Two out of Five! Many people seem to have difficulty getting started with an estate plan. However, it really doesn’t take much to do the planning necessary to help family members who survive you, according to the Lebanon Democrat’s article “End-of-life […]
It sounds financial but it isn’t. It is all about the person’s behavior in the relationship. A fiduciary relationship is a legal relationship that includes responsibilities that can be enforced and it is important to look closely at it, according to the Denton Record-Chronicle What is the “F” word?“. In a fiduciary relationship, whether between […]
Government regulations usually have less impact than family relations. There are some big estate planning mistakes that farmers can make. It is best to be aware of them and avoid following in the footsteps of others, according to Ag Web in “5 Estate Planning Mistakes You Don’t Want To Make”. The current estate tax exemptions […]
The tale might be light-hearted, but it is actually a dire position for the daughter. Proper estate planning by Cinderella’s father could have created an entirely different outcome in that very famous fairy tale, according to The National Law Review in “A Cautionary Fairy-Tale–If Only Cinderella’s Father Had An Estate Plan“. To refresh your memory: […]
Laws can still prevent someone with your Advanced Care Directive from accessing medical records. It seems illogical that the person who is named as your agent under an Advanced Care Directive can’t gain access to your health care records. However, that can sometimes be the case, according to the Monterey Herald in “Senior Advocate: Can […]
Life is full of surprises, so perhaps it is best to be as prepared as possible. Do you know you need a Health Care Proxy, a Power of Attorney (POA) and an estate plan? Getting organized to create a will is a good place to start, according to the Toronto Sun in the article “Where […]
