John O. McManus, who founded McManus & Associates in 1991, has outlined the most important things that those in retirement, as well as those planning to retire, should carefully consider to protect themselves and their families. During a new conference call — part of a complimentary educational series provided by the firm — John explores the 10 issues below. Click the link to hear the 30-minute discussion.
LISTEN HERE: “Top 10 Considerations for Those in Retirement and Those Planning to Retire”
- Re-titling retirement accounts rolled out of a group plan and revisiting your financial plan with your advisor.
- Medicaid trusts and the eligibility period for elderly parents.
- The value of long-term care insurance and replacement of group term insurance.
- Effective gifting to descendants to retain access and/or control in trust.
- Moving out of state and the resulting domicile and residency issues.
- State estate taxes (a preview of the best states to move to for estate tax purposes and which have the best quality of life).
- Creating a family mission statement and all that it entails.
- Increased charitable giving (planned gifts, charitable lead trusts, charitable remainder trusts, foundations, and consideration of board memberships).
- Issues surrounding part-time consulting work and creating a business entity.
- Issues pertaining to real estate investments (ownership in an LLC or trust or sale to children in trust).
We’d love to help you learn more. Please give us a call at (908) 898-0100 or reach out via our Contact page.