When Protecting Assets Beware of Capital Gains
When we get calls with questions about how to protect assets from being spent towards long term care #longtermcareplan or how to protect an estate by minimizing or eliminating an estate tax the focus is limited to the value of the asset. In the case of asset protection a typical
Retirement Account Changes for 2016 #retirementaccount
As the population continues to age and we see the next generation of seniors coming through our office there are differences in the profile of an aging senior today vs. what we saw 15 or 20 years ago. One change is in the amount of retirement assets that we
Noticing Changes in Elderly Family Members (Part 2)
Two weeks ago (1/4/16 post) I was pointing out that while the holiday season is a time when we reconnect with family who we may not have seen for some time, health and behavior changes in the elderly may also become more noticeable. So what can or should you be doing?
Noticing Changes in Elderly Family Members
The holiday season is a time to connect or reconnect with family. We might visit with parents or other family members that we haven’t seen in some time and that’s when changes in their health become more noticeable such as: Weight loss Deterioration in personal hygiene Unusually dirty or messy home Unusually loud
Major Changes to Social Security in 2016
Budget negotiations between Congress and President Obama have resulted in some significant changes to Social Security that will take away some of the strategies that married couples can use to increase their benefit payouts. The “File and Suspend” strategy will be gone by May, 2016. Under this option the
I Just Got a Rate Increase on my Long Term Care Insurance Policy (Part 3)
Last week I was reviewing with you Jim’s dilemma. He received a notice of a rate increase frin his long term care insurance company. I went through with you the options outlined in that letter. For some people in Jim’s situation Option B may be the way to go,
I Just Got a Rate Increase on my Long Term Care Insurance Policy (Part 2)
Last week I was telling you about a call we get with increasing frequency. Jim received a letter notifying him of a rate increase of 60% on his long term care insurance premium. He wanted to know what he should do. The letter explained that the increase is not
I Just Got a Rate Increase on my Long Term Care Insurance Policy
It’s a call we are getting with increasing frequency. Jim just received a letter from his long term care insurance company that they are increasing his premium by a whopping 60%. If that’s not bad enough, the letter warns that he should expect further increases in future years. Jim
Why Won’t the Government Cover My Care?
It’s a comment we get frequently when someone calls our office just after getting sticker shock at the cost of their loved one’s long term care. Some get angry upon hearing that, if they have assets but no long term care insurance coverage, they’ll need to use their own
The Problem with IRAs – The Solution
So, what is the solution to Bill’s IRA problem from last week? He has $1.2 million in IRA money and doesn’t want to risk losing it all to long term care if he gets sick. But protecting it by moving it to a trust will cause him to pay