It’s like going to the casinos and dropping your last $20 on a game of Poker – we kid ourselves into thinking we’re going to be one of the lucky ones and overcome the odds. The same holds true with long term care planning: we’re in denial and sure that we will never need it. Some won’t, but as we continue to live longer, the fact is, the odds increase the older we become that we will need some kind of long term care. So why aren’t we preparing ourselves? New Long Term Care Survey PBS conducted … [Read more...] about Americans Woefully Unprepared for Long Term Care
Think about those 380 Facebook friends you have. Odds are, you went to school with many of them or you might be related to them, but either way you slice it, half of those friends are not saving enough money to sustain them during their elder years. This means they won’t be able to cover important living expenses in retirement, cover the rising costs of medication and won’t be prepared for an unexpected hospital stay. A new survey by Fidelity Investments showed that 55% of Americans will retire … [Read more...] about Retirement Truths
Here it comes – that dreaded word: taxes. Coupled with “capital gains” and most people cringe when they hear it. Those who haven’t had to wrestle claim capital gains taxes yet eventually realize why just the thought of it is so overwhelming. In short, it boils down to the IRS and its cut on monies we've earned when we sell those big ticket items like stocks and real estate. She Said Yes…Then No Taking a step further, a capital gain is what happens when you sell an asset for more than what you … [Read more...] about Understanding Capital Gains Taxes in Essex Junction Vermont
There are things you should do and not do with estate planning. While you may be aware that you do need an estate plan, there is a lot more to it than that. Consider this list of top “do’s” so you can ensure your estate plan is thorough and complete. Work with an Estate Planning Attorney While you know you need an estate plan, what you may not realize is how equally important it is to have a qualified estate planning attorney. DIY plans rarely cover the state regulations regarding estate … [Read more...] about Your Estate Planning Do List
If you have created and funded a revocable living trust, you need to continually add assets into that trust to keep them protected. If, however, you don’t include all of your assets, there are a few things that could happen to the assets left out. Probate Court Any assets not given to your trust when you die will automatically go through probate court. The probate court judge will have to determine where those assets are distributed, unless you have otherwise specified in your … [Read more...] about What Happens to the Assets I Left Out of My Trust?