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Managing Risk: Inheritance Strategies for the Upper Middle Class

Posted in Estate Planning, Life Cycle Estate and Financial Planning, Long Term Care Insurance, Retirement Planning
Several months ago I read Cut Adrift: Families in Insecure Times by Marianne Cooper, a Stanford sociologist. Cooper’s chapters on the extremely professionally successful upper middle class and their project of “doing security” were particularly interesting. These families were operating an increasingly unstable career and social environment, and devoted tremendous energy to enhancing their own financial security.… Continue Reading

Life Cycle Estate and Financial Planning for Early Adulthood

Posted in Insurance, Life Cycle Estate and Financial Planning, Life Insurance, Retirement Planning
I believe effective life cycle estate and financial planning is anchored in the Quadrant of Facts, Forecasts, Life Stages, and Unexpected Events. Over the past several weeks, ten posts covered a lot of territory about Facts and Forecasts. This is a pivot point at which we begin exploring planning issues in the first of several Life… Continue Reading

Give From the Heart and the Head with a Charitable Remainder Trust

Posted in Charitable Planning, Estate Planning, Insurance, Life Insurance, Nonprofit Organizations, Trust Administration, Uncategorized
The holidays always put me in the mood for giving, and I hope to continue that charitable spirit into the New Year with this post on charitable remainder trusts (CRTs). Almost everybody knows that they can claim a deduction on their income tax returns for gifts they make to charities, but many are unaware of… Continue Reading

Reasons to Use a Life Insurance Trust, or Keep the One You Already Have

Posted in Asset Protection, Estate Planning, Estate Tax Planning, Insurance, Life Insurance
A decade ago, when the estate tax exemption was much lower, the irrevocable life insurance trust (or “ILIT”) was a component of many (or even most) tax-aware estate plans. It was common for physicians, attorneys, architects, engineers, and corporate executives to have insurance trusts, without necessarily knowing why that was so.  Reassured by their attorneys… Continue Reading

Protecting family wealth by adapting parents’ estate plans for long term care insurance costs

Posted in Estate Planning, Insurance, Long Term Care Insurance, Retirement Planning
For retired persons or couples with less than $1.5 million to $2 million in wealth, potential long term care costs are one of the greatest risks they face.  Long term care costs can deplete parents’ assets, and also substantially reduce the eventual inheritances of adult children. Let’s consider these issues with a case study featuring… Continue Reading