There are those who adopt the attitude that "it'll never happen to me" when it comes to some of the challenging situations that many people face. There's nothing wrong with adopting a positive attitude, but there is a thin line between taking a healthy, upbeat stance and illogically keeping your head in the sand. This is something to keep in mind when you are considering the possibility of a stay in a long-term care facility at some point in the future. According to the United States Department … [Read more...] about Are You Getting Prepared For Long-Term Care Costs?
When you are making preparations for the future there are things to consider outside of the purely financial realm, and one of them involves health care choices. There may come a time when you are unable to make medical decisions on your own due to incapacitation. If you do not state your wishes in a legally binding manner beforehand, these decisions would fall into the hands of your next of kin. In addition to the fact that it is very difficult to make sensitive decisions on behalf of another … [Read more...] about Including Advance Health Care Directives
The estate tax looms large when you are planning your estate and it can erode your assets considerably if you are not properly prepared. The first thing to take into consideration is whether or not the overall value of your estate exceeds the estate tax exclusion, and the reality is that this is easier said than done because the exclusion is a moving target. At the present time the estate tax exclusion is $5 million and the rate of the tax is 35%. This framework is in place as a result of the … [Read more...] about Estate Tax At A Glance