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American Academy of Estate Planning Attorneys

The American Academy of Estate Planning Attorneys was established in 1992. Mr. Holmgren has been an active member since 1995. Click here to visit his Academy website.

Long Life in Okinawa

Take a moment to watch this video from CNN on the amazing health and long life of Okinawans.

Seinfeld Has An Answer for Everything

In this classic Seinfeld episode, Jerry and Kramer discuss living wills. Although humorous, it makes a great point about the importance of this key document.

 

DocuBank
Utah's New Domestic Asset Protection Trust (DAPT)

Effective May 2013, the DAPT statute (or DAPT law) provides a powerful way to protect assets from various creditors and especially from lawsuits.

CLICK HERE for full, printable article.

How to Have Your Cake and Eat It Too
Posted on Nov. 21, 2011

Guest Post by Steve Knudson

Like many folks, you may be frustrated with all the complications and specifics as well as the underwriting difficulty in exploring Long Term Care or Chronic Illness care insurance.  And then you find out there is no refund of all those premium paid if you die or cancel the LTC policy.

UNTIL NOW---

Earlier this summer of 2011, the Utah State Insurance Department approved a Long Term Care (LTC) policy that does just that.  It is called MoneyGuard Reserve Plus issued by the Lincoln National Life Insurance Company.  The concept is simple:

  1. Single deposit contract with a 100% full principle guaranteed refund of premium at any time.
  2. Long Term Care Pool of money available day 1 (no waiting period) for tax free refund of Home Care, assisted Living Care, or Full Facility Care, or even Hospice qualifies for the benefits.
  3. Income tax free death benefit to a named beneficiary that is larger than the premium deposit but minus claims paid.

For example, if a 56 year old female, deposited id="mce_marker"00,000 in the MG+, she would create an LTC pool of near $500,000 and a death benefit of $200,000 with no further payments required.  In essence, the insurance company guarantees they will not keep her single deposit premium.  Either it will be refunded at her asking, paid out in LTC expense reimbursement or double the deposit at her death.

At a time of interest rates on guaranteed principle accounts being near zero, here may be a way you can reposition some funds to get something for your money rather than almost nothing.

If you need further assistance in looking into this option, call my office and let’s see if this concept fits for you.

Long Term Care
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About Randy

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I help clients prepare for their unexpected death or disability. Using legal documents such as Wills, Trusts, Power of Attorney, LLCs and more, we can ensure that your hard-earned assets go to the right people, at the right time, and in the right way–and are managed by someone who is competent, skilled and trustworthy.

I also help clients identify their non-monetary legacy (values, wisdom, principles, beliefs, life experiences, family name and a commitment to certain charitable causes) and how to effectively pass that legacy on to family and others.

Take time to consider the value of your life to others. Don't miss opportunities to leave a greater legacy than just money.

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