Strategies for Managing Long-Term Care Costs with Insurance
As the population ages, more and more people are finding themselves in need of long-term care. This care can be costly, so it’s important to have a plan in place to manage those costs. One way to do this is with insurance. Here are some strategies for using long-term care (LTC) insurance to manage long-term care costs.
What is a Charitable Trust & How Does it Work?
Many people may not realize that charitable planning intersects with estate and business succession planning. Combining a charitable strategy and the sale of a business is a great way for owners to minimize taxes and provide equity for the next phase of their lives.
What is a Trust?
A trust is a legal document that allows a third party, or trustee, to handle your assets in the event of death or incapacity. People set up trusts to help manage their assets during their lifetime and after death. In the event of death, trusts make sure that your beneficiaries receive your assets according to your wishes. They can assist you in caring for dependents that may struggle with financial inexperience, addiction, or illness. In the event of incapacity, they also ensure that you get the type of care you need.
Understanding Tax Implications of Estate Planning
For many people, estate planning can seem like a complex and intimidating process. With so many nuances in state and federal laws, it can be difficult to understand the tax implications associated with estate planning decisions.
Why Having a Will is Crucial: Lessons from Real-Life Stories and Celebrity Estates
When we think about wills, many of us assume they're only necessary for the wealthy. The reality, however, is that a will is an essential legal document for anyone who owns anything of value—whether that’s a car, a house, or even a prized art collection.
What is the Difference Between a Will and a Trust?
Many people use the terms “will” and “trust” interchangeably, but these documents are very different. In many cases, it’s wise to set up both a will and a trust as components of a comprehensive estate plan.