Purchasing life insurance is often a critical part of estate planning. Although many other factors that impact your estate can change, life insurance is often purchased predominantly because the policy holder believes its value is fixed. By knowing ahead of time how much your life insurance policy is worth, and what it will cost you in premiums, you can adjust the remainder of your estate accordingly. While it is true that many forms of life insurance do provide fixed values, universal life … [Read more...] about Universal Life Insurance Explained
McClellan: Medicaid won’t pay bills for man whose widow had IRA
Upon reading the following article, I decided to write Bill McClellan. The message to Mr. McClellan appears below. http://www.stltoday.com/news/local/columns/bill-mcclellan/article_7be7b2e2-5a78-5b4b-a56e-1141414b6b3c.html Mr. McClellan: I read your article entitled, “McClellan: Medicaid won't pay bills for man whose widow had IRA”, and I wanted to pass on the following thoughts: I am an attorney for the St. Louis County law firm, Purcell & Amen, L.L.C. We focus our practice on … [Read more...] about McClellan: Medicaid won’t pay bills for man whose widow had IRA
Succession Planning & Buy-Sell Agreements
Estate planning for small business owners is a bit more intricate than it is for other folks, but owning a share in a business can actually simplify your overall planning in some important ways. It may seem like an exercise in overstating the obvious, but having a source of fresh, ongoing income throughout your retirement years is a very good thing. When you have to plan ahead to stretch your retirement savings through the next twenty-five years or so it can be quite challenging. When your … [Read more...] about Succession Planning & Buy-Sell Agreements
Life Insurance Is Key Element Of Estate Plans
As the field of elder law broadens in scope there are a number of retirement and estate planning components that many people are learning about for the first time. Things like advance health care directives, durable powers of attorney, pay on death accounts, living trusts and other relevant legal instruments do indeed aid in effective estate planning. But some things that we are all well aware of never go out of style, and life insurance is one of them. When you pass on there are going to be … [Read more...] about Life Insurance Is Key Element Of Estate Plans
FDIC Insurance to Protect Your Trusts
If you are concerned about the safety of your bank deposits, it is time to get FDIC insurance coverage. The FDIC or Federal Deposit Insurance Corporation is a United States government corporation established in 1933, under the Glass-Steagall Act. It offers deposit insurance at 7,895 institutions. Why opt for FDIC insurance and what does it cover? The money you deposit in a bank is invested by that financial institution. However, if those investments fail, your deposits may be in danger. … [Read more...] about FDIC Insurance to Protect Your Trusts
