If you want to make accurate projections as you are planning for the latter portion of your life, you must stay abreast of relevant cost trending. With this in mind, we would like to take a look at the results of the 2010 MetLife Mature Market Institute survey that puts the topic of long-term care costs under the microscope. The average annual charge for a year-long residence for a private room in a nursing home, in the United States in 2010, was over $83,500. This is a 4.6% increase over the … [Read more...] about Long-Term Care Costs Raising Eyebrows
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Small Business Succession Planning
There is a great deal to consider when you are engaged in the process of estate planning, especially if your assets are diverse and existing in a number of different forms. It is difficult and near to impossible to expect the layperson to understand all the legal intricacies involved in a complex estate. This is why it is so important to consult with an estate planning attorney, because it is very likely that any investment that you make will yield significant rewards in the long run. Aside from … [Read more...] about Small Business Succession Planning
Estate Planning Is Not Just For Seniors
Many people go through life feeling as though the time for engaging in estate planning is "later." To be fair, it is natural for people to procrastinate about the things that they don't especially want to think about and those that would not seem to be immediately relevant. However, the thing about estate planning is that if you put it off, you are taking a calculated risk. Many would say that if they choose to take a risk it is their business, but estate planning is unique because you're not … [Read more...] about Estate Planning Is Not Just For Seniors
QPRT Can Provide Estate Tax Efficiency
When you decide to get serious about planning your estate, one of the first things you need to identify is where you stand in relationship to the estate tax exclusion. As a result of the tax relief measure that was passed toward the end of last year, the estate tax exclusion is now $5 million, and the top rate of the tax is 35%. This means that the portion of your estate that exceeds $5 million in value is subject to a 35% federal levy. It should be mentioned that these figures are only in place … [Read more...] about QPRT Can Provide Estate Tax Efficiency
Incapacity Planning Is Key
Part of planning for the future includes estimating exactly how long you will live, and when you look at the age demographic statistics it becomes clear that you may want to prepare for the long haul. People 85 years old and up are the fastest-growing group the United States. This longevity is fantastic as long as you stay relatively healthy, but it is important to plan for all the eventualities that go along with reaching an advanced age. One of these is possible incapacitation. We have all … [Read more...] about Incapacity Planning Is Key
