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413 items found for "life insurance"
- Keep your Golden Years Golden
One of the most crucial is how to live within a budget. and aren’t likely to have the option of reentering the work force to make up for any shortfalls. Of course, these figures depend on home values, but many retirees are unaware of the costs they’ll incur in retirement that are based just on where they live. Moving to a more tax-friendly state could extend the life of your nest egg by years.
- SKIP TAXES WITH A GENERATION SKIPPING TRUST WHEN PASSING ON YOUR WEALTH
You have worked your whole life to preserve your wealth; after you pass on, the last thing you want is education, cash to start a business, or myriad other advantages that will give your descendants a leg up in life A generation skipping trust is just what it sounds like; it is a financial vehicle that “skips” your Of course, a generation skipping trust can also be customized in other ways to ensure that the assets A generation skipping trust can be a powerful tool to lower the tax burden on the assets you would like
- Banks, Beneficiaries and the Best Laid Plans: How Financial Institutions Impact Estate Planning
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
- A Hard Look at IRAs as Beneficiaries
Instead, it will use the life expectancy of the trust’s beneficiary to calculate minimum required distributions If there are multiple beneficiaries, the oldest one’s life expectancy will be used to determine required
- DON’T NEGLECT YOUR LONG-TERM CARE NEEDS IN YOUR ESTATE PLAN
. • Senior day care: For independent seniors that do not need a high level of care and would like to basic health care is provided along with a variety of entertainment and social options. • Assisted living : For seniors who prefer to have their medical care and entertainment options onsite, assisting living However, proper estate planning, which may include Medicaid planning, long-term care insurance and other options, can help you ensure that you receive the type of care you want in your golden years.
- Houston Probate Lawyers Answer, “Will My Inheritance Be Taxed?”
file a tax return, however the IRS does not consider inheritance to be part of your income, so you likely
- The 411 on Health Savings Account Rollovers
This year you need to have a health insurance policy with a deductible of at least $1,300 for individual
- Do I really need an attorney to create a Will in Texas?
They are not likely to get the right answer from the information on a website.
- A Checklist for Opening Retirement Accounts
So, ask yourself when you’d like your tax break—now or later? age, you’ll have to withdraw a certain percentage of your account’s value every year, based on IRS life You can leave the money in the account alone as long as you like. There are certain exceptions, like the ability to use IRA funds for college without a penalty at any
- Houston Asset Protection Lawyer: Learn How To Reduce Your Chances of Being Sued
If you would like to discuss what type of asset protection strategies you can employ, give our Houston
- Houston Will and Trust Lawyer: Read This Before Adding Your Child’s Name to Your Banking Account!
This means that any decision, like selling the property, will have to be approved by both of you.
- Taking Care of Your Furry Friends When You Die
You must think about possible life-changing circumstances that might leave you unable to care for your