Articles
Wednesday, 01 September 2010 15:50
Life insurance and annuities are useful products that help solve problems with the estates of elderly long term care recipients. We discuss below a number of situations where these insurance products are used to rescue assets from long term care costs, reduce or eliminate taxes, protect the lifestyle of the healthy spouse and increase inheritances for the family. A good website to learn more about all of the issues dealing with long term are planning is www.longtermcarelink.net.Deferred...
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Wednesday, 01 September 2010 13:49
The Grantor Retained Annuity Trust (“GRAT”) is a type of trust specifically authorized by the regulations interpreting the Internal Revenue Code. This type of irrevocable trust permits you to make a lifetime gift of assets to an irrevocable trust in exchange for a fixed payment stream for a specified term of years.At the end of the term of years, the balance of the trust property (the “remainder interest”) is transferred to the beneficiaries of your choice, typically children or...
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Wednesday, 01 September 2010 11:48
Services from care managers should be something that every family takes advantage of, but in reality very few families use them. Care managers could go a long ways towards helping the family find better and more efficient ways of providing care for a loved one.The concept is simple. The family hires a professional adviser to act as a guide through the maze of long term care services and providers. The care manager has been there many times. The family is experiencing it usually for the...
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Wednesday, 01 September 2010 10:00
The Charitable Remainder Trust (“CRT”) is a type of trust specifically authorized by the Internal Revenue Code. These irrevocable trusts permit you to transfer ownership of assets to the trust in exchange for an income stream to the person or persons of your choice (typically you, your spouse or you and your spouse) for life or for a specified term of up to 20 years. With the most common type of Charitable Remainder Trust, at the end of the term, the balance of the trust property (the...Read more...
Tuesday, 22 June 2010 08:13
In many cultures in the world, elderly people are revered and their advice is sought and respected. In our culture, the wisdom, the knowledge and the social skills of the elderly are often overlooked and instead we focus on the mental and physical deficits of our older generation.Because of this prevailing attitude, older people in our society are generally regarded as less valuable than younger people. The younger person has responsibilities of raising a family, maintaining a career and...
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