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Financial Planning During Illness

Individuals and families faced with serious medical illness often find themselves faced with many decisions that may seem all consuming. Most have little time to concern themselves with the financial side of these important and often life changing decisions. Proper financial planning assists with medical costs and expenses while still protecting your family’s future. Here at Henderson & Neuberg, we have years of experience aiding in these services. We make it our priority to limit any stress and confusion, guiding you throughout this process to make the best, most informed decisions for you and your loved ones.

We provide help with: Important Legal Documents, Tax and Estate Planning, Income During and After Illness, Insurance Planning, Maximizing Assets to Heirs

Important Legal Documents

  • Beneficiary Designations
  • The Advantages of a Will
  • Advanced Healthcare Directives/Living Wills
  • Who makes Medical Decisions when I cannot?
  • Revocable Living Trusts
  • Grantor-Retained Interest Trusts

Tax and Estate Planning Issues

  • The Need for Estate Planning
  • Stretched IRA Accounts
  • Income in Respect of a Decedent
  • Step Up in Basis
  • Holding Title
  • Joint Tenancy
  • Transfer on Death

Income During & After Illness

  • Loans from Qualified Plans
  • Reverse Mortages
  • Avoiding IRS Penalties

Insurance Planning

  • Disability Insurance
  • Critical Illness Insurance
  • Irrevocable Life Insurance Trust for a Single Person
  • Irrevocable Life Insurance Trust for a Married Couple
  • Taxation of Life Insurance Proceeds

Maximizing Asset to Heirs

  • Avoiding Probate
  • Stretch IRAs
  • How a Single Inherited IRA Works
  • How a Separate Inherited IRA Works
  • Step Up in Basis
  • The Federal Estate Tax
  • Beneficiary Considerations