When I discuss estate planning with clients I try and explain the importance of planning for the cost of long-term care within their estate plan. The cost of long-term care could put your estate assets at risk if you failed to plan for the possibility ahead of time. One option for covering the cost of this kind of care is to purchase Long-Term Care insurance; however, long-term care insurance is not right for everyone. Planning for Long-Term Care Should Be Part of Your Estate … [Read more...] about Getting Things Right with Long-Term Care Insurance.
Asset protection lawyers at Clarity Legal Group® can help you evaluate the risks to your wealth and determine what steps you can take to keep your money and property as safe as possible. You work hard to build a nest egg hoping to provide for yourself as a senior and to leave a financial legacy to loved ones after you pass away. Typically, people are aware that risks to the security of their assets are out there, but do not focus on them until too late. I became an estate planning attorney … [Read more...] about What are the Biggest Risks to Your Assets?
The Research Triangle area asset protection attorneys at Clarity Legal Group® help you to ensure that the wealth you have worked so hard to acquire is not lost. If you are like most people, you want to do what you can to protect what you have, ensuring that your nest egg is safe so you can use it to sustain you throughout your lifetime. You would also like to have something left to established a financial legacy after your death. To achieve this,the first step and and essential step is to … [Read more...] about The Steps Involved in Asset Protection
Retirement planning can actually be a lot of fun as you envision what your life will be like after you put your working years behind you. If you like to travel, hike, play golf or tennis, there will be plenty of time for that. For some people, just getting to the point of being able to plan for retirement is at the top of their bucket list. You have to accumulate a pretty decent nest egg to be able to enjoy all of these activities after your working years. The sooner you get started on a … [Read more...] about Retirement Planning: Consider Assisted Living Costs — Mark Costley
What Is A Living Trust? from Mark Costley You have options when you are deciding how you want your assets to be transferred after you die. A last will is one of your options, but there are others that you should certainly explore. One of them is a living trust. Learn more about living trust in this presentation. … [Read more...] about What Is A Living Trust?
Lifetime and Annual Gift Tax Exclusions Historical Overview: Congress and the Wilson administration established the original federal estate tax in 1916. However, the lack of an annual gift tax limitation provided a large unintended loophole for individuals to distribute inheritances prior to their death and avoid the estate tax. The federal annual gift tax exclusion was first enacted in 1924, repealed in 1926, reenacted in 1932 and has remained in force since that time. Congress and the Reagan … [Read more...] about 2015 Lifetime and Annual Gift Tax Exclusion Increases