Planning for Retirement

Why should you include planning for long-term care in your estate planning?

Seniors are gradually becoming a larger proportion of the American population.  The U.S. Census Bureau predicts that this growth will become more and more rapid in the future. By the middle of the next century, it is estimated that there could be more people over 65 than people under 18. This means that planning not just for retirement, but for an extended lifespan is becoming increasingly necessary.

Depending on where your heirs live, IRAs that designate them as beneficiaries may not be protected from their creditors.

Medicare provides senior citizens with health insurance regardless of their finances while Medicaid provides health care to the poor.

Although inheritance is generally not subject to income tax, that's not the case with tax-deferred retirement accounts, on which the taxes deferred by you must be paid by your beneficiaries...