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proclivity for poor spending can be protected in trusts with specific rules and stipulations that can help ensure Taking the time to make a trust for your heirs is a smart way to ensure they are getting financial support

efficiently are better choices, where most of the money raised is earmarked for programs and not overhead, like Some are obvious, like large, unexplained loans taken out by a senior, or if you see that certain personal

There are plenty of reasons for this, but one of the most obvious is the fact that women typically live Not only are women more likely to inherit their spouse’s estate, but they are also the ones who are going women keep in mind: Estate Planning Tips for Women #1: Appoint a Financial Representative Along the lines Estate Planning Tips for Women #3: Trusts Can Be Your Best Friend Again, it can seem like a “trust” is

No, you’re risking money you need to live on right now. t have a plan to address their income needs, so they withdraw too much too fast to pay for that new life It’s a balancing act—getting out and enjoying life and making certain you have the money to pay for it This requires planning ahead, which is far better than living with regrets.

A pension or inheritance likely won’t be enough to support you through retirement either. Consider getting long-term care insurance to help cover those costs, and use these ideas to make it affordable Where you live impacts what you pay in taxes significantly. Insurance isn’t the best place to cut costs. Also, you need to consider other forms of insurance because your chances of having accidents both at

Medicare covers discrete medical services like office visits and acute care, including hospitalization Those patients usually don’t need full-time home or nursing home care until the very end of their life When dementia patients are sick enough for a nursing home, the cost is not covered by health insurance

Banking on Beneficiary Designations When you open an account at your bank, you will likely be asked to While this seems like a convenient way to pass on your assets when you die, there are limitations to

Statistics office where the death occurred); Estate planning documents, such as the will and trusts; Insurance Postal Service; The Department of Motor Vehicles; Insurance companies; Credit bureaus; Financial institutions

If your estate plan includes a revocable living trust, start by examining the provisions for potential sure the named beneficiaries and amounts they are to receive from the trust are still as you would like Providing for your spouse is typically an estate planning goal for couples, as well as ensuring that and gift tax rules state that spouses can pass an unlimited amount of property to each other without incurring If you live in or move to a state with its own estate tax, a bypass provision may still be a good idea

file a tax return, however the IRS does not consider inheritance to be part of your income, so you likely

involves the elder making a purchase over the phone or making a donation to a charity; Medicare and health insurance fraud happens when a con artist poses as a Medicare or health insurance representative and asks for organization is licensed, as each state has licensing requirements for the sale of financial products and insurance

They are not likely to get the right answer from the information on a website.