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This is especially true for people without long-term care insurance. policy or other insurance benefits. We will also cover permanent life insurance and legal planning. Home health care services can cost upwards of $50,000 per year. Life Insurance Options: Riders and Benefits Some life insurance policies offer options that can help

Do I Need Long-Term Care Insurance? Without long-term care insurance, life can become particularly difficult. Long-term care insurance can be expensive, but it can end up saving your estate in the long run. Your Houston elder lawyer will be able to present you with a variety of options for long-term care insurance that will cover expenses between the time that it is determined you need long-term care and when your insurance

US News’ recent article, “Pros and Cons of Whole Life Insurance,” says that life insurance is often First, decide whether term or permanent insurance is for you. insurance companies. Permanent life insurance has other benefits in addition to the death benefit. The goal is not to depend on life insurance in general or on any one particular type of life insurance

While most baby boomers in their 60s are healthy, many Americans will have health issues when they reach insurance policy. No. 2: Insurance will cover long-term care. Purchase a long-term care insurance policy. and some form of insurance protection against long-term care costs.

A Forbes article, “Wealth Planning For Couples: How to Wisely Merge Your Financial Plans,” says that A prenuptial agreement is now a standard document for those who want to protect their wealth. This includes whether you have long-term care insurance or plan to self-fund care issues in the prenuptial In addition, you should sign a HIPAA (Health Insurance Portability and Accountability Act) release in order for your health information to be shared.

No. 2: Declining health results in long-term care. Social Security check and will erode most retirees’ savings fast—long-term care isn’t covered by typical health insurance programs like Medicare. Folks should consider long-term care insurance.

More importantly, you can make your wishes known for the end of your life and ensure your legacy is solidified While the primary purpose of estate planning is to ensure you and your family are taken care of, you Fund Beneficiary: You can name a charity as a beneficiary of your retirement plan or life insurance,

With this, you’ve amassed a great amount of wealth. in a carefully planned trust is the best way to perpetuate, preserve, and protect your wealth. Preserving and protecting financial wealth requires a sound understanding of, as well as a solid plan for, counteracting the three primary forces that erode wealth over multiple generations. It takes careful planning to make wealth last.

same issue with scattered finances: IRA here, 401(k) there, trust account, savings account, bank CD, insurance Insurance: Look into protecting your nest egg with some term life insurance. CharitableContributions #AssetProtection #EstatePlanningLawyer #IRAs #401k #HoustonWills #PowerofAttorney #Insurance

you don’t get a choice, as noted by Forbes in “The Difference Between Having an Estate Plan and A Wealth have estate planning documents, it’s important to know the differences between these documents and a wealth A big reason family wealth erodes is a lack of communication, understanding and trust among family members A wealth transfer plan is a strategy that you undertake to prepare your heirs for their inheritance, Reference : Forbes (July 1, 2016) “The Difference Between Having an Estate Plan and A Wealth Transfer

As a result, these people who were getting Medicaid for nursing homes might lose their housing and health insurance.

Baby Boomers need to adjust how they think, especially about the thought of slacker Millennials living with their parents, depleting the fridge and glomming off others. When it comes to managing their financial lives, those in the generation born between 1982 and 2000—about 83 million Americans—are making smart, somewhat surprising choices. Maybe we can all learn something from today’s 20- and young 30-somethings. AARP’s article, “What Millennials Know About Money and Work,” tells us that about 40% of millennials bumped up their 401(k) contributions in the past year. That’s about twice the percentage as that of boomers, according to research from T. Rowe Price. In addition, more millennials know how to stick to a budget. About two thirds of 18- to 29-year-olds don’t have even one credit card, research from Bankrate.com showed. Compare that with about one-third of those who are age 30 or older. There are really two reasons for this: (1) millennials entered the credit space when the market was really tight and debiting was the only option available to them; and (2) they realize credit is a really fast way to get in trouble with debt. Are you overusing your credit cards? In other words, is your credit card balance going up every month, or do you use one card to pay off another? If yes, look to the millennials for some guidance and remove them from your wallet. Reference: AARP (December 2015/January 2016) “What Millennials Know About Money and Work” #ClearLakeAssetProtection #Millennials #TaxPlanning