By Richard A. Sarner | Published June 1, 2014 | Posted in Uncategorized | Leave a comment
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Richard A. Sarner
How to Stop Worrying About Running Out of Money in Retirement
Many retirees today worry about having enough money for their retirement. Of special concern is if there will be enough money to provide for the surviving spouse. This is called “shortfall risk,” and it is a valid concern. People are living longer and health care costs continue rising, especially long-term care which many seniors will Read More
Read MoreHow to Minimize the (Voluntary) Federal Estate Tax with Portability
Surprising to most people, the federal estate tax is a voluntary tax. Estate planning attorneys used to say, “You only pay if you don’t plan.” Now, portability provides both an alternative and a back up plan to lifetime tax planning. This means you might be able to minimize or even eliminate federal estate taxes even Read More
Read MoreUsing Trusts in Estate Planning: Personal Risk Management
Paying insurance premiums to protect against potential losses frees us mentally to enjoy driving a car, leave our house empty while on vacation and receive medical treatment for an injury or illness. In the same way, the use of trusts acts like insurance and can shift anxiety to comfort, turmoil to peace, and complexity to Read More
Read MoreThree Social Security Traps
What you don’t know about Social Security benefits can hurt you and your spouse for the rest of your lives. Here are three traps to avoid when taking your benefits. The Key Takeaways The longer you can postpone taking your Social Security benefits, the larger the amount you and your spouse will receive over your Read More
Read MoreWhy Does a Living Trust Cost More than a Will?
It will probably cost more initially to set up a well-drafted living trust than to have a will prepared. A true cost comparison should include not only the expense to establish the will or trust, but also what it will cost should you become incapacitated and after you die. The Key Takeaways: A living trust Read More
Read MoreWealth Protection: Avoiding Losses
You can’t create wealth until you preserve it first. Each dollar lost unnecessarily isn’t just a single dollar lost, but a compounded dollar lost. A dollar not lost allows wealth to compound from a higher floor. Losses can occur from many places beyond investments: property, income, taxes and fees. It is well worth paying for the expertise Read More
Read MoreLong-Term Care Planning: Your Funding Options
The first part of planning for long-term care is realizing that, a) most of us will need this kind of care for at least some time before we die and b) the cost of this care can be financially devastating for a family if it is not planned for in advance. The next part is Read More
Read MoreAligning Insurance Products within a Planning Structure
We use a variety of insurance products to manage risk in different areas of our lives in order to protect our wealth from losses that can come from property damage, businesses we own, disability, retirement and death. Instead of considering these products as separate items, make them part of an integrated, overall risk management plan. Read More
Read MoreUnderstanding Losses: Liability Exposure
We live in a litigious society. Lawsuits abound, whether deserved or not. If you own property or stock that was purchased at a low price and has had high appreciation, it is at risk to litigation and creditors—even if you are not in a high-risk profession. Others may be in a private business such as Read More
Read More5 Common Estate Planning Mistakes to Avoid
From time to time, it’s good to review why having a complete, up-to-date estate plan is so important. In addition to confirming our own actions, it can provide us with valuable information to pass along to friends and family who, for whatever reasons, have yet to act. So, here are five common estate planning mistakes Read More
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