ESTATE PLANNING by JAY PERRY

Contrary to what many might believe, estate planning does not necessarily end at the death of the testator. At this point, the executor and beneficiaries of the deceased are likely to want to undertake further estate planning, particularly in the area of taxes. Regardless of the date of death, a descendants’ final income tax is due by April 15th of the following year. Among the decisions to be made is whether or not it is most beneficial to file a joint return with the descendant’s surviving spouse or whether to file a separate return. If the descendant had a significant capital loss or net operating loss, a joint return may well be a good choice because these carry-forwards end at death and would be lost otherwise.

There are financial realities and responsibilities that accompany the loss of a spouse or other family member. Without an estate plan, much of your hard-earned assets could be subject to high taxes. I encourage readers to protect their loved ones from unnecessary financial and emotional stress. At KRAMER & KRAMER ESTATE PLANNING we offer guidance on Trusts, Annuities, Mutual Funds, and Long-Term Care. We can review your current Trust for FREE. Call me at 623-544-2201 to arrange a FREE CONSULTATION! We do informative FREE SEMINARS every month, so call for seminar times and dates.

Maximizing CD Power by JAY PERRY

To get the most from certificates of deposit (CDs), stagger CD maturities by purchasing a variety of maturity dates. That way, if the interest rates rise, you can reinvest CDs that mature at the new rate. If rates fall, longer-term CDs will be earning the old, higher rate. Also, automaticially invest CD interest in a money market deposit account. You will earn interest on your interest, and have access to the money without incurring a withdrawal penalty. Finally, if higher rates are being offered on larger CDs, it may pay to roll over several small CDs into one big one. Renew all smaller CDs so they mature on that date, then reinvest in one large CD with a higher rate.

At Kramer & Kramer Estate Planning we help people to identify their financial objectives and establish steps to reach them. We emphasize Long-Term Estate Planning and remind readers that it’s important to establish a savings and investment plan that is based on their needs, tolerance for risk, and future inflation rates.

We offer guidance on Trusts, Life Insurance, Annuities, Indexed Annuities, Mutual Funds, and Long-Term Care. We can also review your current Trust for FREE. Call me at 623-544-2201 to arrange a FREE consultation. We do informative FREE seminars every month, so call for seminar times and dates.

Ready to Retire? by JAY PERRY

Many retirees express the wish that they’d kept on working instead of retiring when they did. This bit of news comes from a recent study conducted by Louis Harris & Associates in which more than seven million retirees nationwide said that they should not have retired merely because they reached retirement age. This regret was more than twice as likely to be expressed by those who had not completely prepared for their retirements. More than one-fifth of the retirees surveyed said that they should have kept working. Why? “The Need for Money” (cited by 23%) was only second to “my retirement was unexpected” (40%) as the leading reason expressed for the regret. This all goes to show that financial readiness better determines retirement age than age alone.

Financial security doesn’t happen by accident. Regardless of your age, it’s important to formulate a financial plan that can sustain you in the event of an unexpected job loss or an early retirement. At KRAMER & KRAMER ESTATE PLANNING we can help you determine what level of income you need to live comfortably in your retirement years. We offer guidance on Trusts, Annuities, Indexed Annuities, Mutual Funds, and Long-Term Care. We can also review your current Trust for FREE. Call me at 623-544-2201 to arrange for a free consultation. We do informative FREE seminars every month, so call for seminar times and dates.