Estate Planning Essentials
A solid estate plan can protect you, your family, and your wealth during your lifetime and beyond. It begins with a will or a living trust to pass on assets after your death.
Next, it is a healthcare directive, power of attorney, guardianship of minor children, and other documents.
The major areas of estate planning are:
- Medicaid Spend-Down Planning
- Special Needs Planning
- Business Planning
- Executive Bonus Plan
- Asset and Divorce Protection
- Tax Planning and Philanthropy
Medicaid Spend-Down Planning
Do you worry about longevity? According to the U.S. Department of Health and Human Services, 70% of people over 65 will likely need, at some point, long-term care services.
Imagine, your loved one suffered a sudden stroke or heart attack. Overnight, a person is going from healthy to needing nursing care. You take your loved one to a hospital, but he or she must be discharged to a nursing home. Medicare will pay only for 100 days.
What if it’s longer? Are you ready to write a check?
Fortunately, you still have options.
Maintaining Successful Business
Divorce & Estate Planning
Asset and divorce protection. It ensures that your wealth stays in the family.
Estate planning during divorce. It can shield you from problems if your spouse dies. Also, if you don't have a well-drafted or updated document, your soon-to-be-ex could inherit everything.
Estate planning after divorce. You need it because the final divorce decree will not resolve all your issues or even the most critical.