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reviewed) your estate plan.  If you want to protect your assets and plan for contingencies, keeping your estate plan updated is essential specific beneficiary documents, such as life insurance or retirement plans. What Needs to be Updated in Your Estate Plan Your estate plan is made up of many parts and documents. We can’t wait to help you update your estate plan.

And ideally you agree on the major issues like where you’ll live, when you both plan to retire, and what you want to do in retirement, says the Rocky Mount Telegram’s article, “Retirement and estate planning What’s your plan for maximizing your Social Security payments? It would be wise to sit down with an experienced estate planning attorney to look into these issues and Reference: Rocky Mount Telegram (June 24, 2016) “Retirement and estate planning is a family affair” #

The answer is, of course, that any retirement savings plan is better than none at all. If you have a retirement plan at work, there are some limits as to how much you can deduct of your regular If neither you nor your spouse is covered by a retirement plan at work, the full contribution is tax-deductible If you’re covered by a retirement plan at work, you can get a full deduction only if your modified gross This decision may also be an element of your estate planning because you are required to start withdrawing

Financial planning issues, however, can vary according to age. financial planning guide for different stages of life and the transitions faced along the way. Insurance and estate planning have taken on greater importance, and retirement is no longer so far away Plan on at least 15% of income to be set aside for retirement—25% would be better. #SocialSecurity #PlanningfortheFuture #HoustonTaxPlanning #Medicare

Medicaid planning is a crucial part of your estate planning strategy, and Your Legacy Legal Care is What is Medicaid Planning? Medicaid planning is crucial for individuals at retirement age and even earlier. Planning for retirement — As you approach retirement, it is essential to plan for long-term care expenses Trusted Medicaid Planning Lawyer in Houston, Texas Medicaid planning is a crucial aspect of estate planning

Fewer than half of adult Americans have estate planning documents. and A Wealth Transfer Plan.” and a wealth transfer plan. In addition, there can be problems with financial and tax planning and poor investing. Plan” #AssetProtection #EstatePlanningLawyer #WealthTransferPlan #Inheritance #Wills #Trusts

Many of us have invested in a 401(k) or some similar savings plan so that we can enjoy a comfortable retirement. that you are required to take withdrawals from your traditional IRAs, 401(k)s and other tax-deferred plans You typically must begin taking withdrawals from your IRA, SEP IRA, SIMPLE IRA or retirement plan account The key to avoiding a monstrous tax bill is to begin your planning for RMDs well before your 70th birthday

. #2: Stop procrastinating: When it comes to deciding on your retirement, remember time is money! Talk with an experienced estate planning attorney for accurate and comprehensive information, and so insurance company; or (3) accept the risk, and the bad outcomes that may come with it. #6: Have proper planning An estate-planning attorney can help you with all of these issues. #7 Understand where you need help Reference: Forbes (March 15, 2016) “7 Ways to Have the Most Successful Retirement” #AssetProtection #

Here is a handy checklist for all your estate planning needs: Your Will Even if you already have a will Retirement Accounts Once your divorce has been finalized, you will also want to make sure to update the beneficiaries listed on your retirement accounts. You may want to solicit the help of a trusted estate planning attorney for this task. Too often, we hear stories where people fail to take care of estate planning concerns after a divorce

There are often misconceptions about estate planning that you should know when preparing your documents Estate planning serves to provide your family and loved ones with protection upon your passing, regardless How Does Dementia Affect Estate Planning? Dementia may affect estate planning, as the person suffering from this illness loses the ability to think Speak With an Attorney About Options for Estate Planning There are many myths about estate planning out

In an ideal world, people would be as excited about estate planning when they turn 18 as they are about The reality is very few young adults take the time to craft even the most basic estate plan. Why does an 18 year old need an estate plan? Most people don’t think about estate planning until they have children or reach retirement age. What does a typical 18 year old’s estate plan look like?

While it is commonly associated with retirement and old age, estate planning for young families is equally What is Estate Planning? creating a will, setting up trusts, and designating beneficiaries for your life insurance policies and retirement Estate planning also involves planning for your children’s care and making sure that your wishes are Beneficiary designations for your life insurance policies and retirement accounts ensure that the funds