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assign_6_08[1] - How do you decide which vehicle is...

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Estate Planning Fall 2008 Planning for Retirement Issues for Discussion November 24 and December 1 While most of the focus of estate planning is the effective disposition of assets at death, usually to minimize tax liability, we also need to be concerned with issues associated with living too long. Questions arise in two general areas: 1. How do you finance retirement generally? 2. How do you plan for poor health, long term medical care and incapacity? While detailed coverage of these issues is beyond the scope of this class, we will attempt an overview in the last two class sessions. We will focus on legal, rather than financial, issues in retirement planning. To help you prepare, I have identified some websites below [there are MANY others as well]. Please look for answers to the following questions in the text but consider checking these websites as well. NO WRITTEN ANSWERS NEED BE SUBMITTED. 1. What is the difference between a “traditional” IRA and a Roth IRA?
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Unformatted text preview: How do you decide which vehicle is appropriate for your retirement planning? 2. How do you determine whether someone is eligible for Medicare coverage for nursing home expenses? 3. What is long-term care insurance? What are some of the important policy provisions that an insured should be aware of? 4. What is a durable power of attorney? What role does it play in retirement planning? 5. Can you make binding decisions about how you die? Tax Guide for Investors: Guide to the Roth IRA http://www.fairmark.com/rothira/index.htm Yahoo/Quicken Financial Planner http://planning.yahoo.com/ U.S. Government Medicare website http://www.medicare.gov/ AARP Long-term Care Insurance website http://www.aarp.org/money/financial_planning/sessionfive/longterm_care_insurance.html Elder Law Resources http://www.estateplanninglinks.com/elder.html Robert Clofine’s Elder Law and Estate Planning Page http://www.estateattorney.com/...
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