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Posts tagged "Estate Planning"

Finding the Best Retirement Calculators

Thumbnail image for 16682-Retirement Calculator.jpgFiguring out how much to save for retirement and when you can safely stop working can be difficult. A growing number of online retirement calculators, many of them free, are available to help. Although these calculators may yield vastly different results, they can still be useful tools.

Estate Planning and Retirement Considerations for Late-in-Life Parents

16542-old parent young child.jpgDriven in part by changing cultural mores and surrogate motherhood, older parents are becoming more and more common. Comedian and author Steve Martin had his first child at age 67. Singer Billy Joel just welcomed his third daughter. Janet Jackson had a child at age 50. If you are a later-in-life parent, you should take into account several special estate planning and retirement considerations.

How Will the New Tax Law Affect You?

16482-U.S. Capitol.jpgThe Tax Cuts and Jobs Act was signed into law on December 22, 2017 and represents the most significant reform of the U.S. tax code in over 30 years. Before we get into the details, you should be aware that almost everything listed below expires after 2025, and the tax structure reverts to its current form in 2026 unless Congress acts between now and then. However, the corporate tax rate cut from 35 percent to 21 percent does not expire.

Three Reasons Why Giving Your House to Your Children Isn't the Best Way to Protect It From Medicaid

16430-House.jpgYou may be afraid of losing your home if you have to enter a nursing home and apply for Medicaid. While this fear is well-founded, transferring the home to your children is usually not the best way to protect it.

How do you discuss estate planning with your parents?

Like other Texans who are at or reaching retirement age, your parents may not be particularly interested in discussing estate planning. However, as they continue to get older or develop chronic health issues, you may need to push them into considering it gently.

Pay Attention to the Small Details When Dealing with Long-Term Care Insurers

16342-Woman with Checkbook.jpgA long-term care insurance company recently cancelled the insurance coverage of an elderly woman who accidently wrote the wrong amount on her premium check. The case illustrates the need for policyholders to pay attention to the details.

Long-Term Care Costs on the Rise

16365-Rising costs.jpgThe median cost of a private nursing home room in the United States has increased to $97,455 a year, up 5.5% from 2016, according to Genworth's 2017 Cost of Care survey, which the insurer conducts annually. Genworth reports that the median cost of a semi-private room in a nursing home is $85,775, up 4.44% from 2016. The rise in prices is much larger than the 1.24% and 2.27% gains in 2016.

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