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Risk Management

Using Trusts to Protect Inherited IRAs

Many clients have large IRAs and retirement plan accounts and need special estate planning for these assets. A 2009 study by the Investment Company Institute found that retirement plans account for 34% of all household financial assets, up from 14% in 1978; IRAs alone account for more than 10% of all household financial assets; and … Continue reading »

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Healthcare Cost Lifecycle

Healthcare costs vary widely from person to person, and from household to household. While this is the case, there still exists a general cycle of healthcare expenses that follows the overall life cycle of many individuals. For financial planning purposes, this is very helpful to consider when estimating future cash-flow needs and retirement expense projections … Continue reading »

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Overview of Captive Insurance Companies

For the small business owner, captive insurance companies may provide several advantages in risk-management, income taxation, and generational wealth transfers. Background on Insurance Companies Insurance companies make money by pooling premiums in excess of underwriting costs and investing them for the company’s profit. The principal belongs to the insured premium-payers (it is what is used … Continue reading »

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What are Some of the Risks of Investing in Directly Held Real Estate?

Directly held real estate, owning rental properties in your own name, can expose you to various types of risk. There is legal risk: potential law suits by tenants or other people who fall or are injured on the premises. There is financial risk: real estate is not liquid which means that if you need to … Continue reading »

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Medicare Benefits Abroad

Does your Medicare Coverage cover you while you are living or traveling abroad? Unfortunately, the answer is most likely going to be no. Original Medicare Coverage includes all 50 states, and U.S. territories (U.S. Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands), but outside of those locations, your medical care probably will not … Continue reading »

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When Might Life Insurance Be Necessary… And What Type?

Whether one needs life insurance at all, whole life, or term depends on one’s circumstances. There are specific circumstances that would dictate a need for permanent insurance — which includes whole life, universal life, variable life, etc.  Here is one example.  Consider a person whose estate consists of one asset: a business worth $10 million. … Continue reading »

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Do I Need Umbrella Insurance Coverage? If so, How Much?

An umbrella policy is a personal liability policy. As a general rule, it should at least cover your net worth. It is best to round up to more fully protect your assets. For example, if your net worth is $2.5 million, you’ll want a $3 million policy. As a general exception to the rule, some … Continue reading »

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