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Kiplinger’s “8 Urban Myths of Personal Finance” unravels several urban legends of personal finance that But remember that Social Security was designed as a supplemental retirement insurance program, not a pension Reference: Kiplinger (May 2016) “8 Urban Myths of Personal Finance” #AssetProtection #Guardianship #401k

Review your superannuation, pension and savings to create a budget for your retirement.

study: $142,690 in forgone wages, $131,350 in lost Social Security benefits, and $50,000 in reduced pension If so, it’s good to have a formal contract, known as a personal care agreement, to detail the terms of Remember that Medicare doesn’t pay for personal or homemaking care, but it does cover home health care overwhelming, and if you’re considering quitting your job, try to work at least long enough to vest in your pension

This benefit is known as the Aid and Attendance Pension, and it is a 3-tiered tax-free benefit for wartime

As a Houston probate lawyer , I am often asked if every asset a person owns will have to go through the While most real estate owned by a person does go through the Harris County probate court following the bank account (POD) Securities, bonds, real estate, or other assets with a transfer-on-death provision Pension

Yes, there may be Social Security benefits and a pension, but many of us will need to rely on savings

The list should include life insurance policies, annuities, pension or retirement accounts, bank accounts

you execute a buy-sell agreement with your partner, or are there differences in employee benefits, pension designated dies or changes his or her mind about serving, you must revise your estate plan and replace that person

an IRA when you retired, you might not need all of that money—especially if you are a spouse with a pension inherited by a spouse and converted to his or her own IRA will still be protected from creditors from personal Again, work with a qualified estate attorney to create a sound action plan based on your personal situation

Saving is becoming a bigger part of retirees’ financial plans, especially with defined-benefit pension

cash flow, current salary is the starting point, but include projected monthly Social Security checks, pension Estate planning might include charitable contributions or your wishes about how personal possessions

But what is the best trust for a disabled person? How does it work? Understanding Trusts for Persons With A Disability A trust for a person with a disability is a legal Here are some key points about trusts for person with a disability: They protect the person with a disability's They ensure the person with disability needs are met. Setting Up a Trust for a Disabled Person Setting up a trust for a person with a disability involves several