Whenever parents contemplate their child's future, it's natural to think about how the child would fare if you should die. This is never a pleasant thought, but there is some way to help alleviate the worry. By creating an estate plan in which you choose a guardian to take over caring for your child if you should die, you can rest assured that your child will be cared for by someone of whom you approve. There are two types of guardianships that need consideration. Guardians of the estate are … [Read more...] about How Parents Can Choose a Guardian
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4 Reasons You May Want to Consider Funeral Arrangement Planning
If you’re beginning to plan for the future with an estate plan, you may also want to consider funeral arrangement planning. Funeral arrangement planning best ensures that your wishes will be respected, and can help to keep your loved ones from having to make difficult decisions in a time of grieving. Take a look at the following information, to better understand this planning tool. If you have any questions, or if you’d like to discuss your own funeral arrangement plans, contact an estate … [Read more...] about 4 Reasons You May Want to Consider Funeral Arrangement Planning
Medi-Cal Expansion May Prevent Deaths
Researchers at the Harvard University School of Public Health have recently released the results of a study which show that states that have expanded their Medicaid coverage provisions have a lower death rate than neighbor states which did not. The study used information from the Centers for Disease Control and Prevention to compare death rates in New York, Maine, and Arizona, as well as their neighboring states, in 2001 and 2002. During those years the three states expanded their Medicaid … [Read more...] about Medi-Cal Expansion May Prevent Deaths
Funeral Trusts Can Be a Useful and Flexible Planning Tool
Are you looking for a way to ensure that your wishes will be honored with regard to your funeral, making sure your family is not burdened with paying for your funeral, and sheltering money for Medi-Cal planning purposes? Consider creating a funeral trust which can accomplish all three goals, if drafted properly. A funeral trust is a specialized trust that is aimed at paying your final expenses. As with any trust, you must name a beneficiary. In this case, the funeral home that handles your … [Read more...] about Funeral Trusts Can Be a Useful and Flexible Planning Tool
GRAT-itude for Advanced Tax-Saving Planning Option
For many families, an estate plan based upon a revocable living trust may be all that is needed to protect their assets from death taxes. However, for folks with larger estates, it may make sense to look for ways to transfer assets in a tax-free manner. Though there is a gift tax in place there are ways to facilitate tax-free giving if you take the appropriate actions. One such strategy involves zeroing out a grantor retained annuity trust, often abbreviated as a GRAT. How does it work? After … [Read more...] about GRAT-itude for Advanced Tax-Saving Planning Option
