Estate Planning

If your goal is to protect your assets from Uncle Sam you are probably already aware of Estate Taxes, "Medicaid Spend Down," the "Five Year Look Back," taxes on our IRA, and other potential strains on your estate. 

Your strategy might call for a Stretch IRA, an Irrevocable Life Insurance Trust, or a simple Will.  Whatever it is, we will help you establish a plan, meet with your beneficiaries at your discretion, and develop a strategy for leaving the strongest legacy you can afford. 

True estate planning requires that we:

1.  Identify your short and long term goals for your estate and investment assets. 
2.  Protect your estate from Medicaid spenddown, long term care, and Uncle Sam.
3.  Maximize the legacy that you leave to your heirs. 

It is an interesting process and a potential critical step in every "well intentioned" life plan. 

With Estate Planning we will also discuss the importance of long term care insurance and whether or not it is a smart buy you.  With the Deficit Reduction Act of 2006 and the Long Term Care Partnership Program the government has put into motion legislation that encourages many Americans to at least consider purchasing long term care insurance.  Mike is happy to meet with people interested in long term care insurance in person or over the phone, for a no-cost analysis, to help you decide whether long term care insurance is a smart buy or not. 

Legacy Planning

There are new strategies for allowing IRA's to grow deferred for multiple generations.   With the power of compounding interest your legacy can be astronomical.  Legacy Planning is technical but can be an absolute joy because you are doing what is best for your family. 

Often, a Will is only the beginning of setting up a Legacy Plan that can last generations and provide the most economic benefit for your immediate and successive heirs.  Mike can help you identify your different options for Legacy Planning and offer you insight on the tools and strategies that will help you maximize your legacy.

Charitable Giving

Sharing your wealth with those organizations, institutions that our dear to you is important.  Investment companies have introduced some great ways to give and help with your overall financial and estate planning.  If you want to set up a plan for giving, Mike will make sure you receive important advice about making your charitable contributions go the farthest. 

Mike with his niece, nephew, sister and mom