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Taking Care of Caregivers is Important Too

In the hospital, Jeanette's father begged her to take care of her mother if he could not. Of course, Jeanette agreed. Years later, Jeanette's father passed. Her mother's hearing and eyesight failed, she could no longer drive, and she had…

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Planning for Family Wealth and Taxes

To maximize wealth preservation and minimize tax liabilities, many legal strategies are developed for high-net-worth families. However, tax laws continually change and can impact new and existing estate plans. For example, the SECURE and SECURE 2.0 Act presents some challenges…

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Trusts with Grantor-Retained Income

Some people seek estate and wealth transfer strategies that preserve assets while providing lifetime financial benefits. One such strategy is the grantor-retained income trust (GRIT). GRITs offer a unique opportunity for individuals to retain an income stream from tax-advantaged assets…

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Protection Against Spouse Poverty

Several decades ago, Congress created safeguards to protect the savings of married couples using Medicaid. These protections prevent husbands and wives from bankrupting themselves and funding care for their loved ones. They originally required states to allow spouses of nursing…

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Getting Social Security Disability Benefits for Mental Illness

When you have a mental illness, you may find it impossible to obtain gainful employment. SSA provides disability benefits to qualified individuals through Social Security Disability Insurance (SSDI) and Social Security Income (SSI) if their mental illness significantly impairs their…

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Strategies to Transfer Assets

During wealth transfer, one party or entity transfers wealth or assets to another party. The transfer can happen either during your lifetime or after your death. Wealth transfer strategies use various methods to create the most tax-efficient and effective reorganization…

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Building and Transferring Wealth

Generational wealth can only be built with careful planning and time spent over multiple generations. Without specific plans to create and transfer your legacy, statistically, 70 percent of wealthy families will lose that wealth in the subsequent generation, and 90…

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Tips to Help You Live Longer

We are now living longer than previous generations due to advances in medicine, technology, and life science. But simply living a longer life should not be the goal. Maintaining a healthy quality of life should be. After all, who wants…

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Estate Planning and Life Insurance

In the aftermath of your death, your loved ones should not be forced to inherit assets only to find that they cannot access them for cash expenditures. Most retirees’ assets are in homeownership and retirement accounts, requiring a sale to…

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