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If you have an asset - home, business, commercial building, etc... and your gain is a six digit number be wary of capital gains tax. As an example, MANY people have owned their homes for more than 20 years and are not aware until after they sell they will be handed a capital tax bill. There are legal ways to maneuver around that tax bill. If you need assistance or want to discuss options please contact my office.

Although they were born on the same day, Medicare and Medicaid are not identical twins. And even though they've been around for 55 years, many people still confuse these two government-backed health care programs.

Medicare is a federal program that provides health coverage to those age 65 and older, or to those under 65 who have a disability, with no regard to personal income.

Medicaid is a combined state and federal program that provides health coverage to those who have a very low income, regardless of age.

I'd love to help you figure out which one is best for you.

7 Vets Insurance wishes you a happy and successful 2022!

Should you buy long-term care insurance or save up to self-insure? There are many trade-offs to consider. And, surprise: It doesn’t have to be one or the other. Your strategy over the years can change, depending on your needs and your finances.

The decision on whether to buy long-term care insurance vs. self-insuring is a question many clients ask. If you can afford to self-insure based on your planning, then the choice boils down to whether you would like to retain the risk or share the risk with an insurance company. The goal would be to take the worst-case scenario off the table, if possible.

It is important to determine what you would like to cover and what you can afford to pay on premiums. Since you have no idea of what the future holds for you, and there are many variables and unknowns.

Reach out today with any questions you have!

It might be hard to imagine now, but chances are you’ll need some help taking care of yourself later in life.

The big question is: How will you pay for it?

Buying long-term care insurance is one way to prepare. Long-term care refers to a host of services that aren’t covered by regular health insurance. This includes assistance with routine daily activities, like bathing, dressing, or getting in and out of bed.

A long-term care insurance policy helps cover the costs of that care when you have a chronic medical condition, a disability, or a disorder such as Alzheimer’s disease. Most policies will reimburse you for care given in a variety of places, such as:

Your home.
A nursing home.
An assisted living facility.
An adult day care center.

Considering long-term care costs is an important part of any long-range financial plan, especially in your 50s and beyond. Waiting until you need care to buy coverage isn’t an option. You won’t qualify for long-term care insurance if you already have a debilitating condition. Most people with long-term care insurance buy it in their mid-50s to mid-60s.

Whether long-term care insurance is the right choice depends on your situation and preferences.

Reach out today and we can discuss your options!