There is an old Kenny Rogers song that gives out some free advice: "Don't ever count your money, when you're sittin' at the table." This strategy may be good for gamblers, but it is something to avoid when it comes to estate planning. The estate tax can do a lot of damage to your financial legacy. Not everyone is exposed to the tax, but if you are you must work with an experienced estate planning attorney to take steps that provide estate tax efficiency. How is tax responsibility evaluated? … [Read more...] about Net Worth Statement Invaluable When Calculating Estate Tax Exposure
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Put Estate Planning Procrastination Behind You in 2013
Every time a new year rolls around people decide to take certain positive steps as they experience a sense of renewal. With this in mind we would like to encourage anyone who is going forward without an estate plan to make this the year that you finally take the appropriate actions. It does not take much to arrange for a consultation with an estate planning attorney. The investment that you make in the present can save your family members a lot of time, trouble, and money later on. A lot of … [Read more...] about Put Estate Planning Procrastination Behind You in 2013
Answering Top Three Social Security Questions
We would like to take a look at three of the most commonly asked questions regarding the Social Security program. How Much Will I Get? The way to find out this information is to sign up on the Social Security Administration website and view your personal statement so you can gain an understanding of approximately what you can expect to receive when you qualify for benefits. You can then use this projection to help you gauge exactly how much supplementation is going to be necessary. When Can I … [Read more...] about Answering Top Three Social Security Questions
The Benefits of Stretching an IRA
When you want to be prepared for the future starting and contributing into an individual retirement account can be a good idea. In addition to an IRA's use as a way to generate resources for retirement such an account can also be a good estate planning tool if you want to gain tax efficiency as you set aside resources for the benefit of succeeding generations. You may begin contributing into a traditional individual retirement account with the expectation of needing these funds yourself … [Read more...] about The Benefits of Stretching an IRA
Bring Your Representative up to Speed
The majority of Americans have not executed all of the proper estate planning documents, and this is a disturbing fact. But even if you do have a last will in place along with your advance health care directives there are other things to address. One of them is the choice of someone to act as your representative in the event of your incapacitation or death. If you are using a last will the executor or executrix would be this representative. The first thing to do once you have identified who … [Read more...] about Bring Your Representative up to Speed
Seniors Will Pay More for Medicare in 2013
Why should you plan ahead for retirement? After all, you are going to be receiving Social Security when you reach the age of eligibility. And, when it comes to health care expenses you have no worries because you will be eligible to participate in the Medicare program. While some people do embrace this point of view doing so can result in some rather negative consequences. The truth is that Social Security is not enough to live on comfortably in most cases. The actual average will … [Read more...] about Seniors Will Pay More for Medicare in 2013
Judgment Handed Down in Hemsley Case
Celebrity estate planning news is always of interest to people, and we have been keeping a close eye on the dispute that has surrounded the Sherman Hemsley estate. You may recall that Hemsley, the comedic actor who portrayed George Jefferson on the classic sitcom The Jeffersons, passed away back in July. Unfortunately he was not promptly laid to rest. A fellow named Richard Thornton challenged Hemsley's will and the matter was hung up in probate for months. There was a last will executed by … [Read more...] about Judgment Handed Down in Hemsley Case
Our Report Explains Dangers of DIY Estate Planning
The process of estate planning is something that should be undertaken with the benefit of professional guidance. There are some things that you can do on your own with a little bit of information that you obtain over the Internet, but executing legally binding documents is not one of them. Unfortunately there are those who look for easy answers. If you are among this group you will be able to find websites that sell generic last will documents. The suggestion is that you just fill in the blanks … [Read more...] about Our Report Explains Dangers of DIY Estate Planning
Are You Drifting or Building?
The goal that most people have while they are traversing their career paths is to be able to retire someday and do so in comfort. When you work to support your family over the decades you invariably have limited spare time. As a result a lot of things that you would like to do probably have gone undone. The objective for many is to be able to have these experiences once they retire. This is easier said than done. The income that is derived from Social Security is limited, and this alone is not … [Read more...] about Are You Drifting or Building?
Great Health, Long Life … Long-Term Care
We are all aware of the benefits that go along with a healthy lifestyle. As they say, an apple a day keeps the doctor away and when you feel good you really enjoy an enhanced quality of life. Entering into your retirement years on a positive note feeling good physically is fantastic, and it is certainly a goal that we should all strive to attain. The above having been said, it is wise to be pragmatic when looking ahead toward the twilight years that will follow your active retirement … [Read more...] about Great Health, Long Life … Long-Term Care
