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Weekly Blog Digest - Overland Park, KS - Estate Planning

Lifelong Careers – When Do You Retire?

Pope Benedict, 85, is reportedly the first pope to retire in almost 600 years, which made his decision all the more momentous. But since the pope believed his health issues were impacting his job, the decision seems relatively clear-cut.

Long-Term Care Insurance (LTCi) Expands Gender Gap

While life insurance has long been priced by sex, companies that provide long-term care insurance (LTCI), mainly used to cover healthcare expenses in old age or for severe illness, have long avoided it. But for the first time this year, they will introduce gender-based pricing, starting with policies from Genworth Financial Inc, the nation's largest seller.

The Challenges of Being an Estate Executor

It is important for an executor to pay close attention to detail and engage in a careful, deliberative process.  And remember that the best advice will come from an experienced and knowledgeable estate planning attorney.

Make Sure Your Will and Beneficiary Designations Coincide

Do you love your beneficiaries enough to take the time to check up on your beneficiary forms for your retirement accounts?

Procrastinating on Filing Your 2012 Tax Return? Don’t Sweat It

The IRS still needs time to prepare dozens of other forms and software programs for new and retroactive tax exemptions, credits, and other provisions tucked into the fiscal cliff bill, passed by Congress and signed by President Obama in early January after months of partisan wrangling.

Lifelong Careers – When Do You Retire in Overland Park, KS?

Pope Benedict, 85, is reportedly the first pope to retire in almost 600 years, which made his decision all the more momentous. But since the pope believed his health issues were impacting his job, the decision seems relatively clear-cut.

For the growing number of retirement-aged professionals who are still healthy and hearty, however, the decision gets more complicated.

Many were surprised at the recent announcement by Pope Benedict XVI to step down from his post. This decision is sure to go down in history, and it triggers an important question in those with lifelong careers – when is the right time to retire?

While you may not have the same problems or responsibilities as the Pope, have you reflected on your own future and when may be time to step down? This especially is true if you have no mandatory retirement age for your position.

A recent Marketwatch article titled “Retirement lessons from Pope Benedict” explored this timely issue. Whether you are the Pope, a business owner, or even a CEO there is always the question of succession. Aside from the business aspects, on a personal level make sure your advance health directives are current in the event you became infirm or incapacitated. While you are at it, a good top-to-bottom review of your estate planning likely is in order.

Whether you are responsible for millions or just a few, the take-a-way is the same - always be prepared! Seek appropriate counsel regarding your retirement and/or succession plans.

Reference: MarketWatch (February 11, 2013) “Retirement lessons from Pope Benedict”