Visitors to SeniorCareAdvice.com have been asking us if they should “do something” about their own or an elderly family member’s taxes in light of the recent Presidential election and the statements made by now President-elect, Donald Trump. It is natural for people to want some advice in terms of how the election results will impact […]
Maybe the phrase “the gift that keeps on giving” seems trite, but for some — in the right circumstances — it can fit charitable gift annuities. Whether a charitable gift annuity can also qualify for that other overused and abused phrase, “a win-win situation,” depends on the precise facts and circumstances. What is a Charitable […]
Even though you have signed your will, and even if you also set up a living trust, your estate planning is not complete. You still need to address several “what ifs”. In fact, these “what ifs” are important for people of all ages to address, not just the elderly or those worried about elderly parents. […]
Most young parents know intuitively how they would want their assets divided in the event both would suddenly die, such as in an accident. Most parents would want the assets to be used to care for their children and then divided equally at age 21. It’s an easy choice if children are young. As parents […]
Did you know that you and everyone else in your state already have an estate plan? Yes you do, and it is absolutely free, at least at the outset. It’s a “default plan” and each state has one for its residents. Of course, every state’s “default plan” is somewhat different and, unfortunately, while these default […]
There are essentially two types of life insurance policies: Term life insurance Cash value life insurance Term insurance is pure insurance protection and lacks a “saving” or “investment” element. Cash value insurance, on the other hand, blends term insurance with a savings or investment component. Cash value insurance policies are sold as whole life insurance, […]
Many life insurance policies now contain a provision enabling a person who is terminally ill to essentially receive an advance, during his or her lifetime, of the “death benefit” that would otherwise have been paid to the designated beneficiaries at the time of his or her death. “Living benefit” provisions are very different from – […]
As Benjamin Franklin’s said – “Nothing is certain except death and taxes.” If you own a life insurance policy, and continue to make premium payments on time, the life insurance company will be expected to pay out the face value of the policy, less any liens or advances paid. This only applies to cash value […]