April 21, 2022
Are the Medical Qualifications for an Annuity With Long-Term Care Benefits Less Stringent Than Those With Whole Life or Universal Life?
Estate Attorney and Advisor Chris Berry of Castle Wealth Group answers questions on retirement and estate planning every Wednesday at 1pm www.wisdomwebinar.com to register or give our office a call at 844-885-4200. Castle Wealth Group and Christopher Berry help families with estate planning, elder law, retirement planning, and tax planning from their offices in Brighton, Ann Arbor, Livonia, Bloomfield Hills, and Novi. In this week’s webinar, Attorney and Advisor Chris Berry of www.castlewealthlegal.com answers the below questions.
- 0:00 Introduction / Positive Focus
- 5:06 Should a trust be listed as a beneficiary of a 401k/IRA or the spouse?
- 8:41 I am still taking BCBS through work, however my wife and I are turning 65, should we sign up for Medicare?
- 10:33 We have a Castle Trust and the money moved from the market into a safety/growth vehicle last year, is this taxable income?
- 14:08 Follow up on BCBS
- 15:31 I recently retired and then joined a new company. I had an HSA at the old company where I was maxing out the contribution, the new company does not have an HSA. Can I roll funds from my traditional 401k into an HSA each year for future medical use? If this can be done should I do it?
- 22:14 If a person’s assets are in primarily qualified accounts, is it better to convert to non-qualified and do a Castle Trust or purchase LTC with qualified funds? Can LTC be purchased with qualified funds?
- 30:23 Are the medical qualifications for an annuity with long-term care benefits less stringent than those with whole life or universal life?
- 34:50 If you are working and over the age of 65 can you contribute to your 401k as well as contribute to an IRA? What is the max you can contribute to each? If you went over what are the ramifications? 38:01 Question about Fixed Indexed Annuity
- 45:41 When one spouse dies should the surviving spouse combine trusts or keep them separate? What is the advantage of keeping separate?
- 51:56 Castle Trust assets are protected from Medicaid are qualified assets also protected?
About Castle Wealth Group
Contact Castle Wealth Group for all your estate planning needs. We build a perfect strategy for your retirement, including income planning, investment planning, tax planning, health care planning, and legacy planning. Visit our website or call us at 844.885.4200 or email us for your financial advice.
Join our Weekly Wisdom Webinars
Estate Attorney and Advisor Chris Berry of Castle Wealth Group answers questions on retirement and estate planning every Wednesday at 1pm www.wisdomwebinar.com to register or give our office a call at 844-885-4200.