Archive for April, 2009
WHAT ARE THE RESTRICTIONS ON THE HALF
She can be her own trustee over Pop’s half so she has full management and control over it. She has an absolute right to all the income generated by his half, and she can spend any part or all of the $500,000 if she needs it. The key word is “needs.” She has to spend her entire $500,000 before she starts spending his. Finally, Mom can’t change who gets Pop’s share of the estate after he dies. The beneficiaries named by Pop are the ones who will get the money. And Mom will have to file separate tax returns each year, one for her half and one for Pop’s. That’s it. These are minor restrictions to endure for a savings of
$150,000.
How can I tell if I can afford a long term insurance?
Some people walk into my office wanting to buy an LTC polt but we find, when we look at their financial big picture, that isn’t right for them because they can’t really afford it over long haul. This insurance is meant to keep you from going the poorhouse in case of a long-term stay, not to put you the poorhouse just to pay for it.
If you sign up at fifty-four, have to be able to afford it—both now and in the years after you retire. It will do you no good to buy a policy at fifty-four retire at sixty-four, and find, at seventy-four, that you can longer afford the premiums. You would have been better off not longer purchasing the insurance in the first place but investing money instead.
There are policies available that have what is known as return of premium option. This option means that if you’d pai your premiums for a number of years and either don’t use the policy or can no longer afford it, you can get your premiums back. This sounds good, but this option will raise the cost of the
premium some 35 percent. In most cases you’re better off getling an LTC policy without this option and investing that 35 percent extra on your own.
How do you know if you can afford it? By taking a good hard look at your future financial picture. Make some calculations to see what would happen to your ability to pay for this insurance when you retire and no longer have a paycheck coming in. Ask yourself what would happen after retirement if your partner died: Would you lose a Social Security check? Does his or her pension stop or is it reduced? And could you afford it if the rates went up? The insurance agents you’re talking to should be concerned about these same questions as well, and run as fast as you can from anyone who begins to pressure you. If you can afford it, ETC insurance is great. If you can’t afford it well into your retirement, it won’t do you a bit of good.
If you can’t afford it, you can still be responsible to those you love. If you are worried about your aging parents, or when the time comes that you begin worrying about yourself, you can seek out the advice of an attorney who specializes in elder care. If your parents live far away, see an elder care attorney near where they live, not where you live, because the assistance available varies widely from state to state and even can vary from region to region within the same state. In any case, an elder care attorney will go over all the options available to you—and these keep changing—given your particular situation.
Making Personnel Decisions in a Bad Economy
Is employee performance appraisal important? Absolutely. In these tough economic times, it is even more critical. Unfortunately, companies in every industry today are faced with making difficult decisions regarding the size and makeup of their workforces. Without good performance management data, these decisions are virtually made in a vacuum. Leading performance appraisal consultants, like Grote Consulting can help your organization accurately appraise employee performance and make smart personnel choices when the time arrives.
Literary agents are publishers’ gatekeepers
Literary agents are publishers’ gatekeepers. They screen and represent the vast majority of the books publishers release. Publishing houses tend to give proposals submitted by agents more attention because their editors have a high level of confidence in their submissions. Don’t approach agents or publishers.
WHEN WRITERS TRY TO SELL THEIR BOOKS, they often feel like they’re swimming against the tide in a tsunami. For most writers, the process of trying to sell a book differs from anything that they have ever attempted. For many, it’s as if they’re entering a strange new world, and they can quickly get lost or beaten down.When they are not fully prepared, they may suddenly discover that they have to do much more than they expected and do it in a manner that may not be their strength.