Category Archives: Asset Proection

Information regarding asset protection.

VA Benefits: Options for a Spouse of a Healthy Veteran

While a spouse of a Veteran may receive VA benefits after the Veteran has passed away, in general, a spouse cannot receive VA pension benefits while the veteran himself or herself is healthy.  While the Veteran is living the claim is technically theirs and based on his or her health.  However, there is a veryContinue Reading

2017 Estate Tax Exclusion Amount Increasing

The IRS has announced that the basic federal estate tax exclusion amount for the estates of decedents dying during calendar year 2017 will be $5.49 million, up from $5.45 million for calendar year 2016. Also, if the executor chooses to use the special use valuation method for qualified real property, the aggregate decrease in the value ofContinue Reading

Make withdrawals from your retirement plans without penalty

You can make withdrawals from your 401(k) or 403(b) retirement plans without penalty before reaching at 59½.  You will not face the 10% early distribution penalty if you leave your job in or after the year you turn 55, although you will still owe tax on pretax contributions and associated investment gains. For the exemptionContinue Reading

Some Life Insurance Premiums are Skyrocketing: Why?

When was much younger, my dad, who was an insurance salesman, told me never buy a universal life insurance policy.  It was a bad deal, and you’d have to be crazy to buy any permanent policy other than whole life, he said.  I really had no idea why he said that and didn’t really inquireContinue Reading

Retirees are confident, but unprepared

Recently Transamerica Insurance produced a report titled “The Current State of Retirement: a Compendium of Findings about American Retirees.”  Published only a few months ago, it cited ten important facts about today’s retirees.  In short the study indicates retirees are optimistic, but that optimism masks a surprising lack of adequate preparation. What did the TransamericaContinue Reading