Long Term Care Costs

Most people know that it’s crucial to plan for retirement. It used to be the case that saving about $1 Million would cover a typical couple, but that number seems to be ticking up rapidly. Retirement planning is a specialty, and you should see a qualified retirement planning professional.

But...

Continue reading…

Making Sense Of Long-Term Care

Why don’t more people plan for long-term care? It’s probably one of the more difficult items to plan for due to the cost, the complexity and anxiety that comes with the thought of aging. Most people I talk to figure they’ll age gracefully, never leave their home and get in-home health care. While that is...
Continue reading…

IRA’s and Estate Planning

IRA’s are increasingly becoming an important part of estate planning for middle class families, particularly those who have worked and saved their whole lives. Sometimes, you will need to live off of the income of your IRA in retirement, but sometimes you will have other sources of income that cover your life expenses.

...
Continue reading…

Your Beneficiary May Be A Stranger!

Recently, I suggested to a client that she check her beneficiary designations on her IRA. She insisted her family was named as beneficiaries properly, so when the company sent her the list of names, she was surprised to find a stranger’s name on the list. Mistakes do happen, and unfortunately,...

Continue reading…

Five Myths About “Living Trusts”

Is the Revocable Living Trust, sometimes just called a Living Trust, the ultimate estate planning tool? It depends who you ask, and what state you’re in.

In Pennsylvania, Living Trusts aren’t used commonly as an estate planning tool. Instead, practitioners in Pennsylvania, as well as clients, tend to favor Wills as the...

Continue reading…

Estate Planning Tips

This week, I reached into my grab bag for a few best practices in estate planning. Everyone must have an estate plan because without one, you risk leaving your affairs a mess for others. Here are a few tips and ideas:

KEEP IT CURRENT:
Keep your Powers of Attorney...
Continue reading…

Estate Recovery and Medicaid

 

What is Medicaid?

Medicaid is a joint state-federal entitlement program that serves several purposes, one of them being paying for the long term care (nursing home, etc.) of elderly who cannot afford such care. In Pennsylvania, Medicaid is called Medical Assistance (MA). Nursing homes cost anywhere from $80,000 to over...

Continue reading…

Is it time for a WILL review?

Is it time to update your LAST WILL & TESTAMENT? You don't know until you review it! We've put together a few tips this week for when it's a good time for you to pull the will out of storage and give it a review. 

1. THE WILL IS FIVE OR MORE...

Continue reading…