There
are three adult stages in a person's life:
- 20-50 years old. At this stage, you have children,
a home and a car, which all translates into tuition, a
mortgage, car payments, outstanding student loans and
support for your children. You are working your way up
the corporate ladder, one wrung at a time. This stage
in life eats up cash, you can't have enough of it.
- 50-70 years old. At this stage, your children have
grown, your mortgage is paid up, you might or might not
have car payments, and you are still healthy and vibrant
and working. You are now able to save more and maybe even
vacation, and enjoy your children and grandchildren. These
are the golden years. Enjoy your nest egg. Think about
Long Term Care insurance.
- 70 and up. Maybe you have retired. Health problems
might be creeping up. Through prior planning you have
amassed quite a nest egg, and the question now is where
should the money go, how do I give my money to my children
and grandchildren while avoiding the estate tax rate of
50%.
In this stage we are planning for Long Term care, Medicaid
planning. Do you want the money to be used up in medical,
nursing, nursing home care, or do you want your children
or other loved ones or charities to enjoy it.
You are presently in control of your health care decisions
and your finances. Financial and Estate Planning will ensure
that you will always remain in control of these important
decisions.
The Law Firm of Lenore S. Davis, P.C. provides you with
information and assistance to get your present financial
goals met, to plan for your future financial needs, and
to ensure that you have sufficient funds for those who survive
your death.
At different ages, there are different monetary requirements.
The earlier you start planning, the more success you will
have at meeting your financial goals for the present and
for the rest of your life. It really is never too late.
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