Tag Archives: solution

Nursing Homes Are Not the Only Solution

When you think about your retirement years, the good times are going to come to mind. If you take the right steps along the way, you can build a nest egg and have the opportunity to cross things off your bucket list. These years are often referred to as the golden years, but you also have to consider the twilight years that will inevitably follow. There are some considerable expenses looming, and you should brace yourself for these potential costs in advance. A very significant percentage of senior citizens ultimately require help with their day-to-day needs. Many of them will reside in assisted-living communities or nursing homes. However, nursing homes are not the only solution. In many instances, a senior citizen who needs help with his or her activities of daily living can get that help at home. This arrangement would be preferable for many people for a number of different reasons. As you age, you may lose loved ones along the way, and your working years are behind you. These chan

Is There an Estate Planning Solution for Small Business Partners?

Many people drag their feet when it comes to estate planning, because they do not know where to start. They recognize the need for a plan, but they have questions, and the matter seems complicated. This can be true for anyone, but it is especially true for small business partners. If you are a partner in a small business, you may face a somewhat difficult estate planning scenario. What would happen to your share of the business after you pass away, and how do you see to it that the liquidity is spread among your surviving family members? This is just one question, but the next question would be this: Where would liquidation of your share leave the surviving partners? A buyer could come along, and the intentions of the buyer may not be consistent with the wishes of the surviving partners. Without question, this is a tricky situation. However, there is an estate planning solution that is often implemented called a buy-sell agreement. Insurance Proceeds Insurance policy proceeds are at t