Go to page: Planning and Paying for Long-Term Care: What You Need to Know
By Ted James
While planning for long-term care for yourself or a loved one can be emotionally challenging, doing so can help reduce stress and minimize financial strain. Anticipating, preparing for, and financing long-term care seem like a daunting process; however, a little research and preparation, as laid out here by Retirement & Estate Advisors & Professionals (REAP), can make this process much easier.
As the Association for Long Term Care Planning notes, it is…
David H. Morgan joins the LTC Minute to talk about how tax-free money can be created for long-term care.
From: Wall Street Journal
Last year, after finishing with college tuition for their three children, Jessica Galligan Goldsmith and her husband, James, treated themselves to something she had long wanted: long-term-care insurance.
It hasn’t been cheap. The couple, both lawyers in their mid-50s, will shell out more than $320,000 between them over a decade. For that, they will be able to tap into benefits topping $1 million apiece by…
From: www.aaepa.com
As I discussed in last week’s blog, retirement assets, including 401(k)s, IRAs, etc., comprise a large portion of the average American’s wealth. Planning for these assets is critical, not just due to their value, but also due to their special nature.
Traditional IRAs and 401(k)s and the earnings on them are tax-deferred. Roth IRAs and 401(k)s are tax-free. However, there’s another characteristic of…
From: www.aaepa.com
This is another in a series of blogs on the basics of estate planning. This week, we’ll take a first look at asset protection. Next week, we’ll delve deeper into asset protection.
Much depends upon whose assets you are looking to protect. If the assets are those that are coming to you, the debtor, then typically, those can be protected completely. We’ll…
From: www.financial-planning.com
With the 1996 introduction of tax-qualified long-term care insurance under the Health Insurance Portability and Accountability Act and IRC Section 7702B, Congress affirmed that long-term care insurance benefits should be tax-free. Tax benefits for purchased long-term care insurance coverage followed.
However, the evolving landscape of both individual tax deductions and long-term care insurance tax preferences have created myriad options for filers, all…
From: lordabbett.com
High-yield corporate bonds still present a compelling opportunity, despite tighter credit spreads.
High-yield bonds have performed very well over the past year, with the Bank of America Merrill Lynch High Yield Master II Constrained Index returning 12.65% for the 12-month period ended June 9, 2017. Although positive performance has come with tighter credit spreads, here are five reasons why we believe investors should continue to…
Article by REAP, LLC.
The one incident that could change your entire future
Whenever you read or talk about important topics like long-term care, health costs or retirement, you have to wade through facts, statistics and other numbers. The average cost of medical care today, the likelihood that you’ll be diagnosed with certain types of diseases, how much money you’ll need to amass in retirement to live and pay for…
From: aaepa.com
As life expectancy continues to rise and medical costs increase, many adult children who take on the responsibility of caring for their aging parents are finding themselves faced with quite a dilemma. Because many simply don’t have the financial means for professional care, they’re faced with administering a considerable portion, if not all, of the care themselves.
As I…
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