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With some exceptions, such as trusts, life insurance payments, retirement plans, and a few other things , all of a person’s assets must go through this process in order to ensure they are being distributed If the deceased had a will, he or she will likely have chosen the person they want to fulfill that role people find that this job is much easier under the guidance of the probate lawyer, as the attorney will likely If you would like to talk to an experienced Harris County probate lawyer, feel free to call us(281) 885

If your parent has long-term care insurance, check to ensure that it covers assisted living or home health Long-term care insurance will generally kick in if your parent needs assistance with “activities of daily Even with long-term care insurance, your parent may face a deductible or an elimination period, which Medicaid: If your parent does not have long-term care insurance and is facing a stay longer than 100 Do they have an end-of-life plan, long-term care insurance, and an estate plan?

study showed that people in the U.S. fear developing Alzheimer’s disease more than any other major life-threatening Burdening others by losing memory of life and loved ones was the second greatest concern, according to Some of it can be paid for by insurance, Medicare and Medicaid. Identify family members who should be included in financial plans, like those who can help with routine

Insurance premiums are lowest when you’re younger, and if you ever do need it, most policy owners will Lifetime coverage isn’t offered anymore, and, unlike basic health insurance, you can be rejected for There are some newer products called hybrids, which add on long-term care benefits to life insurance Reference: New York Times (December 18, 2015) “Long-Term Care Insurance Can Baffle, With Complex Policies

However, since most elderly Americans do not have long-term care insurance or have the assets to be self-insured Long-term care insurance and pre-planning tools and annuities can help to set you up for later in life Even after going into a nursing home there are opportunities to protect life-savings and become qualified If you wish for your life savings to be used for long-term care then you would want to apply right away If one spouse is still living at home it is important to properly plan so that that spouse can be eligible

Certain types of intellectual property—like business ideas, visual art, published or unpublished literary One idea is a life insurance policy purchased and owned by an Irrevocable Life Insurance Trust (ILIT) structured and administered correctly, an ILIT can provide cash at death to help satisfy obligations like Estate planning for intangible assets like intellectual property has many complicated considerations. Make sure to speak with a qualified estate planning attorney to help ensure the ultimate distribution

Here’s a rundown: Sign up for low-cost life insurance. Active-duty members of the military can purchase low-cost term life insurance, called Servicemembers’ Group Life Insurance (SGLI). The beneficiary designations for your pension, life insurance, IRAs, and thrift savings plan take precedence If you’re looking at this cost compared to the price of buying life insurance for your spouse, the policy

Growing older is a fact of life, and yet many families are not prepared to face the financial challenges Read on to learn more about how to start planning for the rest of your life. Included in these options are long-term care insurance, nursing home Medicaid planning, asset protection We encourage all of our clients to obtain long-term care insurance, as our experience has shown that If you are ready to start planning for the rest of your life, we are ready to help you.

You may have started to do some estate planning with the purchase of life insurance, which is creating folks’ estate planning consists of a simple will, but for others, it may include a will, trusts, new life insurance, powers of attorney, a living will, and other legal instruments. Here are a few other reminders: Your planning should coordinate your insurance policies with the provisions

No. 2: Insurance will cover long-term care. Private insurance and Medicare won’t pay for assisted living, continuing care in retirement communities Purchase a long-term care insurance policy. Consider combining life and long-term care insurance policies, which offer death benefits to survivors and some form of insurance protection against long-term care costs.

The beneficiary designations on your retirement and brokerage accounts, and the life insurance policies beneficiary designations regularly to be sure the money in your accounts or the death benefit on a life insurance policy goes to the right person.

Add to that the payout from a life insurance policy, and you suddenly realize that you have quite a bit