A Retirement Plan is Much More Than Funding the Right Investment

Most retirees’ goals are to enjoy retirement, with such methods as travel, entertainment, and spending time with the children and grandchildren. This is what retirees want, rather than worrying about having enough money available for home healthcare or assisted living if needed, without the fear of running out of money, losing a majority over night in the stock market, or …

6 important steps to business continuation planning

There will come a point where every business owner will want to retire from their business. Other times, the owner may not be able to leave voluntarily, but instead be forced to do so due to incapacity or death. Inthese instances, the loss of such and individual can wreak havoc on a business. Therefore having an appropriate “exit strategy” could …

How DHS and CAO view your Medicaid Planning

Medicaid is the primary funding source for nursing home care. Medicare and health insurance do not cover this cost on a long term basis. Long term care insurance can but it is very expensive to purchase, many individuals do not qualify and number of insurance companies providing this coverage has dwindled in the past few years. Individuals who did in …

What is an annuity?

An annuity is a contract in the form of an insurance product, in which the seller makes future payments to a buyer in exchange for a single lump sum payment (single-payment annuity) before the annuity begins. The payments continue until the death of the annuity purchaser. There are two possible phases for an annuity: the accumulation phase, in which the …

What is the Nature of a Trust?

Trusts are useful for many purposes, including avoiding probate, reducing or eliminating federal estate taxes, and managing property for a beneficiary when direct ownership by the beneficiary is not desired. Trusts also can be very useful for asset protection if the creditors of the beneficiary are prevented from reaching trust assets. A trust can be an effective way to place …

4 Simple Steps To Complete Your Probate Process

Probate is a term that is used in several different ways. Probate can refer to the act of presenting a will to a court officer for filling; such as, to “probate” a will. More generally, probate refers to the method by which the estate is administered and processed through the legal system. Many people thing that probate applies to you …