Are you more worried than excited about the idea of retiring? You don’t need to be. The most common concern is whether you have saved enough to be able to retire safely and comfortably. So, if you are wondering – can I retire now? Here are the most important things you need to consider to start saving and to be sure you have an appropriate retirement plan in place to secure your future.You first need to have reasonable retirement goalsOne of the first issues that arises for clients when … [Read more...] about Can I Retire Now?
6 Important Facts about Missouri Guardianship
Unfortunately, there may come a day when a parent or other loved one suffers an illness or injury that leaves them unable to care for themselves without assistance. While it may not happen to everyone, if that time does come for you, you should consider a Missouri guardianship. Here are six important facts about Missouri guardianship that can make the decision easier.No. 1 - A guardianship is established through the courtCreating a Missouri guardianship requires a formal court procedure. … [Read more...] about 6 Important Facts about Missouri Guardianship
Medicaid Lawyer Discusses a Medicaid Compliant Annuity
Far too many people believe that they can simply transfer or give away their property to someone else, before applying for Medicaid benefits. The truth is, if you do that at any time within five years of submitting your Medicaid application, a period of ineligibility will likely be imposed. In other words, as your estate planning lawyer will tell you, you cannot receive any benefits until that period is over. With proper planning, you can retain control of your assets and still qualify under … [Read more...] about Medicaid Lawyer Discusses a Medicaid Compliant Annuity
Why Do I Need a Durable Power of Attorney?
When you are contemplating which estate planning tools to use, be sure to consider a durable power of attorney. This important tool allows someone else to take control over and manage your affairs in case you are ever incapacitated for any reason. It does not matter whether that incapacity is temporary or permanent. It is important to remember to specifically designate the power of attorney as “durable” so that it will remain in effect once you become incapacitated.The purpose of a power of … [Read more...] about Why Do I Need a Durable Power of Attorney?
Should I Use an IRA in My Retirement Planning?
If you haven’t started working on retirement planning yet, you still have time but you should get started now. To have a comfortable retirement when the time comes, you should not simply count on your Social Security benefits. Instead, you should create an appropriate retirement plan to meet your future needs and give you the comfort and security you will need in your golden years. One of the best ways to start your plan is to establish an Individual Retirement Account (IRA) to help you save … [Read more...] about Should I Use an IRA in My Retirement Planning?
What You Should Know about Creating a Will
The most common advice for people considering estate planning is that you need a will. Without a will, your state’s laws regarding inheritances will determine who receives your property upon your death. More importantly, a judge who knows nothing about you or your family will decide who will take care of your minor children. So, when you decide that you are ready to start your estate planning, here is what you need to know about creating a will.The essential requirements for creating a … [Read more...] about What You Should Know about Creating a Will
6 Things You Should Know about a Revocable Family Trust
No matter what your economic status may be, having an estate plan is a great idea. For people, fortunate enough to have established significant wealth for themselves and their families, it is certainly important to have a plan. One way to protect your family's future is by creating a revocable family trust. Your estate planning attorney can help. Before you get started, here are six things you should know about a revocable family trust.1. Why you should include a revocable family trust in … [Read more...] about 6 Things You Should Know about a Revocable Family Trust
Types of Powers of Attorney Kansas Residents Can Choose From
Though most of us have heard the term "power of attorney," few know what a power of attorney is and what it can do. Not every power of attorney functions the same way and some types are better suited than others, depending on your needs. Here is the scoop on powers of attorney Kansas residents should know.The basic definition of a power of attorneyA power of attorney is a legal document that authorizes one person, referred to as the agent, to act on behalf of another, known as the … [Read more...] about Types of Powers of Attorney Kansas Residents Can Choose From
What You Should Know as a Trust Beneficiary
Trusts are a beneficial estate planning tool that provide many advantages to the trust beneficiary. Trusts are very useful in minimizing estate taxes and in avoiding probate. There are many other benefits as well. Here is what you should know as a trust beneficiary.What is a trust?Trusts are essentially fiduciary agreements based on the trust and confidence that exists between the trustee and the person making the trust, known as the grantor. The trust agreement authorizes the trustee to … [Read more...] about What You Should Know as a Trust Beneficiary
What are the Best Asset Protection Strategies?
While you may not be considering the need for asset protection now, if you have substantial wealth, there are several asset protection strategies that you should know. This is also true if you anticipate receiving an inheritance, lawsuit settlement or judgment, sale of stock options, or there is some other situation that will dramatically increase your wealth.Increase your liability insuranceYour first line of defense against potential litigation, especially if you own a business or work in … [Read more...] about What are the Best Asset Protection Strategies?
