According to a recent article in The Wall Street Journal (The Latest Long-Term Care Snafu), however, some families are encountering claims-denials that can prevent or delay the collection of benefits. If you have purchased a long-term care insurance policy, there are steps you can take to help avoid this problem. Most importantly, be sure to re-read your policy’s fine print before hiring a caregiver or entering a facility. We have found, it may make sense for you to hire, Senior Life Care Planning, to help in preparing and advocating for your claims. Be particularly vigilant if the policy was purchased…
Strategic use of life insurance frequently is a key aspect of comprehensive estate planning, solving a wide variety of estate planning challenges from providing liquidity to pay estate taxes, to charitable bequests and ensuring the continuation of a closely-held business. One of the key characteristics of life insurance, however, making it such a versatile estate planning tool, is preferential tax treatment. Properly structured, life insurance proceeds pass tax-free to beneficiaries, and earnings on investments held within certain types of “permanent” life insurance also generally accrue tax-free. According to a recent article in The Wall Street Journal, there is some national…
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