Looking toward the future with long-term care insurance

Article Abstract:

Long-term care insurance has become a valuable way to protect assets and plan for the future because people are living longer and most need some form of long-term care at some point in their lives. Health care is expensive and medicare and medicaid have their own limits and rules, making an alternative attractive. The insurance is a valuable alternative because the funds are excluded from income up to $175 per day under the Health Insurance Portability and Accountability Act of 1996.

Direct Health and Medical Insurance Carriers, Hospital and medical service plans, Medical Insurance NEC, Financial planning, Health insurance, Long-term care insurance, Long term care insurance

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Charity begins at home

Article Abstract:

Charitable remainder trusts are efficient vehicles for reducing estate tax liabilities and serving charitable purposes. Persons with interests in closely held businesses or qualified retirement plans may consider using charitable remainder annuity or unitrusts while providing income to one or more beneficiaries. The value of the remainder interest can be duplicated with life insurance for those concerned with beneficiary security or lifestyle.

Planning, Estate tax, Estate taxes, Charitable remainder trusts

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Family limited partnerships and succession planning

Article Abstract:

Family limited partnerships can be used to reduce the value of assets for estate tax purposes in cases of appreciated value of family businesses. The Taxpayer Relief Act of 1997 provides minimal relief for holders of such businesses. Careful planning and documentation should allow family limited partnerships to withstand IRS scrutiny.

Tax Law, Public Finance Activities, Partnerships, Taxation, Estate planning, Limited partnership, Limited partnerships, Family-owned business enterprises, Family-owned businesses

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