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A Qualified Terminable Interest Property Trust: A useful tool in your estate planning toolbox that you might not know about
By sherry@reedcompanies.com |
A Qualified Terminable Interest Property (QTIP) trust is a specialized, irrevocable trust designed to provide for a surviving spouse while maintaining control over the ultimate distribution of assets. Commonly used in comprehensive estate planning, a QTIP trust allows an individual to ensure their spouse is financially supported while guaranteeing that the assets eventually pass to…
No Matter Who Becomes President, Start to Plan: Tips for how to start your estate planning process today – for your future
By sherry@reedcompanies.com |
Many people postpone the planning of their estates because they assume that estate planning is only for the affluent. Others may think that estate planning is similar to tax planning, which can always be done “later.” In some cases, estate planning may be put on the back burner because it is a reminder of one’s…
Long-Term Care Facilities: Types and Costs: Learn about the different types of long-term care facilities, how much they cost and how they can help your loved one.
By sherry@reedcompanies.com |
By Lisa Esposito and Elaine K. Howley from US News Medically reviewed by Michael Tehrani, MD Most older adults end up needing some form of care later in life. Getty Images According to the Administration for Community Living, someone who’s turning 65 today has an almost 70% chance of needing long-term care during their remaining years. About 20% of those…
How to Pay for Long-Term Care: 8 Strategies
By sherry@reedcompanies.com |
By Tammy Ward and Ed Friderici for Horsesmouth For most, it is difficult to think about the possibility of needing long-term care. But many will need it. Start the discussion and prepare yourself now so you do not face a financial challenge later. LONG-TERM CARE PLANNING—IF NOT NOW, WHEN? Two big questions loom as the…
Home-Health-Care Factors for You to Consider: Tips for finding the best fit in caregivers to ensure quality care and comfort
By sherry@reedcompanies.com |
Are you thinking about home health care as a solution to providing help with daily activities such as bathing, meal preparation, and housekeeping? Many older individuals benefit from receiving assistance in the comfort of their own homes, allowing them to maintain their independence longer. But, before you agree to at-home care, carefully consider all the…
Inherited IRA Rules & SECURE Act 2.0 Changes
By Doug Reed |
Losing a loved one is always difficult. Understanding the rules of money passage during this time is especially important. One way wealth passes from generation to generation is through inherited IRAs. When it comes to these individual retirement accounts (IRAs), it’s important to understand the rules that have recently changed related to the Setting Every…