It can be quite an exciting and challenging adventure to go into business for yourself. As we all know the majority of start-ups do not succeed in the long run so you have to defy the odds to gain traction and become successful. Because of the demands involved in starting up a business how you will be exit the business may not be the first thing on your mind. However, once you know that you are in fact going to be in it for the long haul you should ask yourself how you or your estate … [Read more...] about Business Owners: How Will You Exit?
The liklihood that you will need long-term care towards the end of your life is relatively high. Budgeting for this cost is important because contrary to the beliefs of some people, Medicare does not pay for long-term care. If you think you can just simply write a check and be done with it you may not be aware of the extent of the costs associated with long-term care. Every year the MetLife Mature Market Institute releases a survey that contains a great deal of information about long-term care … [Read more...] about MetLife Mature Market Institute 2011 Survey Released
There are people who think that things will take care of themselves as the years pass, but the reality is that each of us must take responsibility for our own futures. There is more to planning for the latter stages of your life than simply anticipating your Social Security check and drawing up a last will. You will eventually have to fund your retirement years if you do in fact expect to retire, and Social Security, even if it still exists in its present form by the time you retire, is probably … [Read more...] about Phases Of Aging Call For Holistic Planning
As estate and retirement planning attorneys, part of what we do is help our clients prepare for some of the challenges that go along with aging; things like possible incapacitation and addressing long term care costs. Preparing for these contingencies is necessary and prudent, but there is a lot of quality time left after your working years are behind you. Opportunities abound during your retirement years, and the fact is that seniors can use their free time to accomplish some truly amazing … [Read more...] about Retirement Planning: Aim High
A large part of retirement planning involves trying to predict the costs that you will be facing in the future. This is very challenging because there are many variables at play that are totally out of the control of the individual. Things like potential changes in the tax laws, how Medicare will look in ten or twenty years, whether or not health care reform will be repealed or altered, and just how high long-term care costs will rise are all unknowns. All you can do about the things about which … [Read more...] about Retirement Planning & Health Care Expenses
There is an old saying that goes something like "Give a man a fish, he eats for a day; teach him to fish, he eats for a lifetime." This is some profound food for thought when you are planning your estate. Passing along the assets that you have accumulated during your lifetime is certainly going to be helpful to your heirs, but if you could impart your knowledge to them you may be able to plant a seed that leads to a pattern of success can continue across the generations. Any time a high profile, … [Read more...] about Sharing The Secrets Of Your Success