Weinstein & Randisi
Phone:585-310-1578
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Will health care be out of reach soon?

Health care costs have continued to rise at an alarming rate. Health care needs often grow as we age. For many of us, the potential cost of health care for our later years is enough to cause us to lose sleep. Long-term care insurance is one of the solutions some are turning to to address this situation.

Thinking about care decisions in advance

Estate planning covers decisions about financial matters and the creation of one's legacy. it also covers immediate and important decisions about health care and a person's preferences for the end of life. Advance care planning is not something that should be left up to chance. People need to understand what they do and do not want regarding medical treatments as they age.

Estate planning and aging alone

Many of the cues that get people thinking about estate planning are family related. New marriages, becoming a grandparent, passing along a family business or protecting family heirlooms can all be the impetus for starting an estate plan. A new trend may require a change in the way people consider legacy planning. A growing percentage of Americans between the ages of 45 and 65, prime years to complete an estate plan, are living alone.

Estate taxes are confusing, even to the IRS

The Treasury Inspector General for Tax Administration recently issued a report concerning how estate and gift tax returns are being processed. The report highlights substantial discrepancies in how the IRS handled the examination process. One of the issues covered in the report is that the document used by the IRS to classify gift and estate tax returns in difficult to read and follow. As anyone who has ever read an IRS form can attest, simplicity and  clarity are not the driving force behind creating tax documents.

Discussing Estate Planning Goals

There are topics that many Americans do not feel comfortable discussing, even with friends and family. Some topics are too personal, others are simply uncomfortable. Estate planning touches on two topic that many people have trouble discussing: money and death.

Blended families and estate planning

There are many pitfalls for the inexperienced estate planner. Do-it-yourself planning can go from confusing to hopeless with a just few, relatively common wrinkles. One of the most common factors that can make estate planning complicated is the blended family.

Can you make your own estate plan?

The do-it-yourself crowd has access to tools that were unimaginable even a decade ago. Those tools can be powerful, but therein lies the problem. Power, in the hands of the inexperienced, can be disastrous. If you are considering creating an estate plan on your own, it is important to have an accurate understanding of exactly when a problem is beyond your ability to solve.

Recognizing Fads In Estate Planning

There are basic elements to estate planning that are generally included in any comprehensive plan. But like any field, there are emerging trends, fads and misinformation that can alter a plan for better or worse. It is important to get reliable, cutting edge advice to avoid mistakes while still taking advantage of powerful new tools.

One simple step to protect your loved ones

When you buy an insurance policy, open a bank account or set up a retirement account, you are required to designate a beneficiary. In some cases, you may be asked to choose a secondary beneficiary, but that is often not mandatory. As your life changes, you preference regarding who benefits from these accounts may also change. If you have not taken a look at these account for some time, now is an excellent time to review them.

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Weinstein & Randisi
290 Linden Oaks, Ste. 200
Rochester, NY 14625

Toll Free: 800-768-1780
Phone: 585-310-1578
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