It is conceivable that the majority of us will need some type of assisted care during our lifetimes. Of those over the age of 65, it is estimated that 50% of women and 25% of men will need to enter a long-term care facility at some point. Fortunately most of these are short stays for rehabilitation services, but there are still many that will stay longer. Recent surveys indicate that of all of the people that enter long term care facilities; about one third of them will be there longer than a … [Read more...] about Deciding on a Long-Term Care Facility
Insurance
What is a Life Insurance Trust?
Proceeds from life insurance policies are distributed directly to the named beneficiaries upon your death. They are not governed by your Will and do not have to be probated before being distributed. But that doesn’t mean your heirs won’t pay tax on those proceeds. Quite the contrary, the value of the policies will be added into your estate specifically for estate tax purposes. Fortunately, there’s a way to avoid paying those extra taxes. An Irrevocable Life Insurance Trust can act as a … [Read more...] about What is a Life Insurance Trust?
How A Health Savings Account Works
A Health Savings Account (HSA) is a great way to plan for high medical costs. If you have a high deductible health coverage plan and are considering opening an HSA to supplement the deductible cost, here is what you need to know. How to Get Started Before you open an account with a bank or insurance agency, check to see if your employer provides an HSA. This may be the case if their offered health coverage is high deductible. When you open your account make sure it pays interest. You may have … [Read more...] about How A Health Savings Account Works
