Why Athene Fixed Index Annuity for lifetime pension

If you wish to allocate a portion of your savings or retirement/pension in a safe Fixed Index Annuity with no negative market participation, text Connie Dello Buono, 0G60621, at 408-8541883 to show you Athene’s annuity products that suits your retirement savings goal of tax less, fees less, avoid probate, safe with no participation in market downturns and more benefits as shown below.

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About Connie Dello Buono, Financial Consultant 4088541883 connie@connielifeins.com

Insurance Broker protecting families, seniors and business owners (insurance for life, income, health, retirement, estate and mortgage equity).

Connie Dello Buono is a California Licensed Life and Health Insurance Agent, 0G60621. Serving clients in the bay area, Santa Clara county and the greater bay area communities. Connie started helping seniors with caregivers and with life insurance products that can be used even with health issues.

Life Insurance as asset, life, and retirement income protection

We are focused on helping our clients achieve a secure retirement using fixed annuities and index universal life insurance, a final expense plan using single issue whole life insurance with no medical tests, mortgage protection insurance plans from Americo, AIG, Mutual of Omaha, Transamerica, AIG, John Hancock, American Amicable and 10 more insurance carriers, mostly A rated.

The many riders are important to protect the client during accidental death (doubles the death benefit amount), disability, loss of income/job, terminal/chronic/critical illness or living benefits riders, Return of Premium or cash back, paid up addition and getting back all premiums paid at 100 yrs of age.

Health Care strategist and founder of Motherhealth bay area caregivers

Health Author , Curated Health at Balboa Press

Asset protection from MediCal recovery

Long term care is costly. Be proactive, include a life insurance agent and estate planner/lawyer in your retirement planning.

Text 408-854-1883 for tax free, avoid probates Index Universal Life Insurance, to grow your savings for lifetime retirement savings and for lifetime retirement income, with no negative returns like 401k, Athene Fixed Index Annuity can avoid probate, safe and have guarantees for your lifetime retirement income with no market downturn.

Ruth and John, a married couple, spent their lives, their working lives, building up their nest egg for retirement. They enjoyed the fruits of their labor and they both retired for about 10 years. Then John was diagnosed with Dementia. Ruth cared for him for as long as she possibly could, about seven years, but eventually, John needed to be placed in a care home because she could no longer care for him. She found a skilled nursing facility that cared for late-stage Dementia patients, and they charged a whopping $12,000 a month. Within two years, their savings was wiped out, and Ruth applied for long-term care benefits through Medi-Cal. She was able to keep their house, as it is exempt from calculations and qualifying for Medi-Cal. And because she had spent all the savings paying for his care prior, they met all the requirements to qualify for Medi-Cal, and John’s health care or skilled nursing facility costs were paid for by Medi-Cal for another 18 months until he passed away.

After John’s death, Ruth lived another five years, and at her death, all their assets were to go to their two children. However, the only asset left in their estate was their house, ’cause it was exempt at the time John applied for Medi-Cal. Well, after Ruth died, the children received a notice from Medi-Cal demanding to recover the $216,000 they had spent on his care during those 18 months.

You’re thinking to yourself, “Can they do that?” Yes, they can. It’s called Medi-Cal Recovery. And as a result, the children received pretty much nothing, because Medi-Cal places a lien on the house, the house is sold, and their recovery debts are paid through that money. And it’s only after those debts are paid do the children inherit.

Could Ruth and John have prevented this? Yes. They could’ve prevented the depletion of their savings for his care initially, and they could have protected their home from any recovery that Medi-Cal would seek after they both passed away. But she didn’t seek out that advice or that help, and often people don’t know that it’s out there. If she had contacted a qualified attorney who handles Medi-Cal benefit planning, she could have at least saved the home from recovery.

Estate Planning for Business Owners

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The irrevocable life insurance trust is not the only form of trust that’s useful with an estate plan. There are actually several different types of trusts that have important roles to play in the estate planning process.

One of the more popular trusts is the so-called “living trust,” more technically known as an inter vivos trust.

A living trust is a legal document that resembles a will. Like a will, a living trust stipulates how an individual’s assets are to be distributed, and the specific terms of those distribution plans. Unlike a will, however, a living trust operates during the lifetime of the person who set it up.

The intent of a living trust is to manage assets during periods of disability and at death. A common purpose for living trusts is to protect assets should the grantor become mentally or physically incapacitated. That is, it contains detailed instructions for the management of assets should the grantor become disabled, as well as directions for the distribution of assets at death.

Because they stipulate the disposition of assets at death, a living trust must dovetail with the terms of the grantor’s will.

 

So, let’s sum up the advantages of an irrevocable life insurance trust and see why most feel it is such an important part of any estate plan. . .

An irrevocable life insurance trust can be used by taxpayers who wish to remove not only substantial assets from their gross estates, but also any income from or future appreciation of those assets. This tax benefit is paid for by giving up complete control over the trust and trust assets.

By avoiding the insured’s estate, however, insurance proceeds in an irrevocable trust do not increase the decedent’s estate tax burden. Thus, they can be a source of income for the surviving family, while providing funds to pay estate taxes for the estate, but not from the estate. This can help avoid a forced sale of assets at the grantor’s death.  There are some issues that anyone considering an irrevocable life insurance trust will have to evaluate relative to their circumstances.  Questions to consider are will there be sufficient cash flow to cover the premiums?  Are there enough liquid assets so that the funds contributed to the trust will not be needed for future living costs?  You also want to understand the administration issues and costs involved with an irrevocable life insurance trust.

Be sure to get qualified professional help when establishing this or any type of trust.

 

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Seek a lawyer, research and find the best fit for your estate.

 

What happens when somebody dies?

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