You are receiving this email because you signed up to receive Bob Carlson's free e-letter Retirement Watch Weekly, or you purchased a product or service from its publisher, Eagle Financial Publications. [Carlson's Retirement Watch Weekly] [Retirement Reports](www.retirementwatch.com/retirement-resources/) [Retirement Articles](www.retirementwatch.com/retirement-articles/) Brought to you by Eagle Financial Publications Estate Planning for âModern Familiesâ by Bob Carlson
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[image]( According to Fortune, you need to be pulling in at least $650,000 every year to be considered a one-percenter in America. Now, to make that kind of money in one year, youâd usually need to own a booming business, climb the top of the corporate ladder or hit a jackpot in Vegas⦠But one breakthrough trading system can help you make âone-percenterâ money, in the next six months. [Learn about it here.]( [CLICK HERE...]( Fellow Investor, [Bob Carlson]The make-up of the modern family has changed quite a bit over the years. Therefore, traditional estate plans wonât work well for many families these days. A traditional plan is for couples who are in their first and only marriage and have only kids from that marriage. Different plans, tools, and strategies might be needed for people with other life stories. Letâs start with planning for the single person. Many people now are unmarried for a substantial part of their adult years. They might be widowed, divorced, or never married. They might be in relationships that donât include legal marriage. Several issues are the same for all of them. The first focus of a single adultâs estate plan should be to ensure that someone competent will manage the property and other matters if the individual is unable to. The best solution usually is a durable financial power of attorney or a living trust or both. You also need a medical directive, which can include a medical power of attorney, living will, and other instructions. These documents designate one or more people to make decisions about your medical care when you arenât able to. These tools also are important for traditional couples, but they are more important for others. State and federal law often provide some protection and presumptions for married couples but not for singles. As with married couples, the key to making these tools work is naming the right people to make the decisions for you and being sure the documents properly empower them. Surprisingly, youâre also likely to need a document naming people who can visit if you are in a hospital or other facility. This might be in the medical directive or a separate document. Many medical providers now interpret federal privacy law to restrict access only to family members unless there is a clear statement from the patient. Long-term care insurance or some other plan for long-term care might be more important for an unmarried person than for a married couple. A single person doesnât have a spouse who might be able to assist him or her. While, Medicaid will pay for nursing home care and allow the retention of some assets, a married couple usually is allowed to retain more assets than a single person. In addition to a single personâs being able to retain fewer assets for a legacy, the assets of any partner of the single person might be endangered under Medicaid, especially if the assets are owned jointly. Living trusts become more important to those with chronic illness or conditions. Those are common issues for all single persons. SPONSORED [This Simple Options Trade Wins 96% of the Time](
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[Bob Carlson]
Bob Carlson
Editor, Retirement Watch Weekly Editorâs Note: Youâre supposed to diversify your investment portfolio, to protect it from bear markets, inflation, deflation, and more. But many IRA investors donât know that Congress and the IRS built obstacles on the road to diversification. Most tax and financial advisors also arenât aware of the all the rules and restrictions in the tax code. Thatâs why I created my IRA Investment Guide. It provides the roadmap youâll need to avoid the many dangers for IRA investors. [Click here now to get yours.]( SPONSORED [Trade Smarter: Discover Hidden Opportunities w/ A.I.](
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[How to Vary Spending During Retirement]( New to the Retirement Watch Community: SeniorResource.com Probate is what happens after someone passes away. Itâs a legal procedure where a court makes sure that everything that belonged to the person who passed away gets distributed the right way. The court also makes sure any outstanding debts and taxes get paid. The probate process can be expensive. There are court fees, lawyer fees, filing fees, accounting fees⦠you name it! And itâs not just expensive, it can take a long time too. So, itâs worth [exploring some ways to help your estate avoid the probate process.]( About Bob Carlson: [Bob Carlson]Robert C. Carlson is the author of the books The New Rules of Retirement and Retirement Tax Guide, editor and investment director of the popular retirement newsletter, Retirement Watch, and editor of the free weekly e-letter, Retirement Watch Weekly. Bob is a frequent speaker at investment conferences around the country, and you can also hear Bob as a featured guest on nationally-syndicated radio shows, such as The Retirement Hour, Dateline Washington, Family News in Focus, The Michael Reagan Show, Money Matters and The Stock Doctor. About Us:
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