Design Center Our firm has access to a one-of-a-kind “advanced” design center that no other firm in our area has access to. The term “case design” simply means that our firm, with the help of outside team members if needed, outlines in detail the proper aspects of a plan to help clients with asset protection, [...]
Medicaid Planning Most people just spend their money on nursing home care until they are broke. To receive aid from Medicaid to help pay for nursing home expenses, a single person MUST spend down their “countable” assets to roughly $2,000. That means if you have money in an IRA, 401(k), annuity, CDs, brokerage accounts, etc. [...]
Family Limited Partnerships It is absolutely amazing how few people who can benefit by FLPs actually have them. FLPs are not a primary estate planning tool (those are your wills and marital or A&B trusts), but FLPs can nicely supplement an estate plan and save your heirs sometimes millions of dollars in estate taxes if [...]
Avoid The 75% Tax Trap Give More to Your Heirs Instead of 75% to IRS… Would it shock or upset you to learn that after taking 20-30+ years to accumulate wealth, with poor planning, at your death, 75% or more or your assets may go to the government not your heirs? Most people have no [...]
Charitable Planning Charitable Planning Can Be a Terrific Estate Planning Tool! If you’d like to skip right to the educational video, please click here or on the picture below. What many people do not understand is that charitable giving can be client (donor) focused not charity focused. Would you like to use a wealth building [...]
Advanced Estate Planning Tools There are a number of other estate planning tools that can be used in a large estate plan. We wanted to mention a few but did not want to take space on a website to fully explain them. Therefore, we will list several other tools below with a cursory explanation of [...]
Life Settlements What is a life settlement (LS)? It’s simply the sale of a life insurance policy to a third person or corporate buyer. LSs are for someone who purchased a life insurance policy, no longer needs that particular policy (for a variety of reasons discussed below), and would like to sell the policy today [...]
Life Insurance Made Easy Most people do not like the thought of having to purchase life insurance of any kind. Most people buy term life even though over 93+% of the time the death benefit doesn’t pay. We prefer to help clients understand the benefits of permanent insurance and how you can use such polices [...]
Single Premium Life for Long Term Care Insurance What is a “single premium” Life (SPL) policy? It’s a policy designed to act partially like an annuity and partially like a long-term care (LTC) policy. Most life insurance policies are funded for two reasons: 1) death benefit or 2) cash accumulation. A SPL policy is funded [...]
Long Term Care Insurance Look the following statistics. If they don’t scare you into taking a long look at obtaining some kind of long-term care insurance (LTCI), nothing will. On average, 69% of people age 65 or older will need some form of long-term care. The average daily cost of a private nursing home room [...]
