Once you have an estate plan in place, you may breathe a sigh of relief feeling as though you have put a significant responsibility behind you. Considering that so many people never take this step, you really have accomplished something significant when you take action for the well-being of your loved ones. Having said this, it is important to recognize that estate planning is not a "one and done" endeavor. If you created a revocable living trust while a relatively young adult, … [Read more...]
The Reason Seniors Need to Know Oklahoma Medicaid Guidelines
It is important for everyone to know Oklahoma Medicaid guidelines because Medicaid is an insurer that provides for care you might otherwise be unable to afford. Medicaid is an insurance program operated as part of a federal / state partnership. It is for people who qualify based on limited incomes. The Medicaid program cannot turn down anyone due to their medical status if they are otherwise eligible for benefits. It provides coverage for care that Medicare and private … [Read more...]
Have You Reviewed Your Living Trust Lately?
Once you have an estate plan in place you may breathe a sigh of relief feeling as though you have put a significant responsibility behind you. Considering the fact that so many people do not take this step you have accomplished something significant when you take action for the well-being of your loved ones. Having said that, it is important for you to recognize that estate planning is not a "one and done" endeavor. If you create your revocable living trust as a relatively young … [Read more...]
Upcoming Client Education Event: Issues That May Impact Your Estate Plan
Reinforce Peace of Mind by Guarding Against Issues That May Impact Your Family's Estate Plan This is a FREE event! Topics we'll cover include: Why It’s Critical to Take Advantage of Our Complimentary Annual Reviews of Your Medicaid Planning The Threats Lurking When IRAs Are Left to Non-Spousal Beneficiaries The Importance of Generational Planning to Preserve Inherited Wealth The #1 Most Common Health Care Mistake For Adults or Disabled Children What REALLY Happens to Spousal Income … [Read more...]
4 Key Estate Planning Actions for New Parents
New parents are often overwhelmed due to sleepless nights and unexpected financial burdens to focus on the steps necessary to safeguard their children’s future in the event one or both parents pass away. We recommend new parents consider the following actions as an essential part of starting a new family. … [Read more...]
Communication is the Key
“The single biggest problem in communication is the illusion that it has taken place” – George Bernard Shaw Most of us guys can relate to the quote above, especially when it comes to remembering to buy milk on our way home or making a reservation for our anniversary dinner. However, it also describes the difficulty many people have when it comes to discussing their estate plans with family members, especially when it comes to money. A recent Fidelity Investments survey found … [Read more...]
Charitable Giving: Do Your Research
Charitable giving can be a very valuable part of your estate plan. There are thousands of charities out there that could use a boost, but if you're wise you will do your research before making any knee-jerk decisions. If you're like most people you want your money to do the maximum amount of good. You may be drawn to a particular cause or institution for one reason or another, but you don't know if this entity is efficiently using its resources unless you do the research. … [Read more...]
Roth IRAs Have Estate Planning Value
It seems pretty straightforward that an individual retirement account is intended to provide assets to be utilized during retirement. However, a certain form of IRA can also have value when you are planning your estate. Conventional individual retirement accounts involve contributions that are made over time before taxes have been imposed. If things go as planned the assets that have been placed into the account will grow over the years as you continue to make contributions. … [Read more...]
Intestacy in Oklahoma City Oklahoma: How Is My Property Distributed If I Die Intestate?
Estate planning is important for all responsible adults. Some people do not take action even though they should because they are prone to procrastination. They intend to take care of it at some point in the future. Of course, many times the individual who thinks this way dies before he or she ever gets around to planning his or her estate. … [Read more...]
IDGT: When Defective Becomes Effective
There are many different acronyms that are used to describe estate planning devices, and some of the terms that they represent are a bit confusing. One that may fit this description is the intentionally defective grantor trust. This type of trust may be a viable option if you are seeking to reduce the taxable value of your estate for eventual distribution to your heirs. … [Read more...]
