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Who pays the bill? Medicare doesn’t cover LTC if that’s all you need, and when it does cover costs, it’s only available for a specific number of days. If you need custodial or more extended care, who pays the bill? If you’re hoping to stay home, you may want to consider a LTC policy that […]Continue reading
According to IRS Revenue Procedure 2020-45, a couple age 70 or older who both have the right kind of long-term care insurance policy can deduct as much as $11,280 in 2021 an increase of $420 from the $10,860 limit for 2020. Essentially, more of the premiums you pay will be deductible. If you own a […]Continue reading
Your first line of defense against potential litigation will likely be insurance in the form of an “umbrella policy.” Your financial professional can help with the right coverage but be prepared for a policy that’s at least equal to your new net worth. Getting liability insurance is generally a relatively inexpensive way to avoid […]Continue reading
When your time comes, will you feel comfortable with who receives your estate and how the process is managed? Would it be prudent to place restrictions on how the gift is received? When planning an estate, inheritance is a privilege, not a right. How will your estate best be distributed? If you have children, should […]Continue reading
“If you’re a caregiver, part of your job may be to keep track of your loved one’s legal affairs. And you probably know—or are learning—that’s a big responsibility.” AARP provides more detailed content and checklists for this piece. Do you have the proper documents? Will Health Care Power of Attorney Medical Durable Power of […]Continue reading
It’s no surprise that couples disagree throughout their marriage. For the most part, those differences can be resolved relatively quickly, but common ground can feel very far off when it comes to estate planning. A few critical considerations can influence how you select and communicate your intentions to your beneficiaries. Moreover, the spectrum of complexities […]Continue reading
It’s tax season for you and a veritable identity gold mine for thieves! Empowered with a name and Social Security number, crafty thieves can open credit cards, take out loans, wipe out your bank account and even file a tax return in your name to get a fraudulent refund with just a few clicks on […]Continue reading
Many wealth advisors suggest their clients don’t have a long-term care plan in place. Yet, people ages 65 and older currently have a 70% chance of needing long-term care services, according to the U.S. Department of Health and Human Services. It’s advisable to start preparing for long-term care costs between ages 40 – 50. But […]Continue reading
Wills and trusts are both estate-planning tools that can help ensure your assets are protected and bequeathed to your heirs. However, the transfer process becomes more involved when passing wealth to a subsequent generation. We highly recommend consulting with a legal advisor since both of these are legal documents and there are a number of state-specific requirements […]Continue reading
Every small business owner understands that small goals can add up to big results, so with the new year underway, it’s time to look at your goals and ensure they are aligned with your business plan for 2022. Do A SWOT Review A new year is a perfect time for a SWOT analysis—a review […]Continue reading
