Retirement Planning

Mr. Simbole provides advice and services in the following areas:

• The feasibility and practicality of purchasing Long Term Care Insurance to assist retired persons in living arrangements as they age.
  
• The Use of Charitable Remainder Trusts Instruments to contribute to charity for tax purposes and yet retain income from the trust for the life of the retiree.
  
• The different types of retirement communities available to clients, including level of care, services provided, and costs attendant to each type.

There are several financial and service options to consider when moving from a family residence to a retirement community . Basically these retirement communities are in one of two groups. Those run for a profit (such as “Sunrise” or “Marriott”), or those run by not-for-profit charitable groups organized under section 501 of the IRS code. These are often run by churches or other charitable groups.

Both offer a wide range of plans for independent living, assisted living, and total nursing home care. Some require a buy in capitalization cost, which is partially refundable in the first 5 to 10 years. Others require outright purchase of a condominium unit that represents a good investment that can be passed on to heirs. Meal and extra service plans can be crafted to suit individual needs. The advice of an attorney is often helpful here.

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.

Copyright ©2002-2006 by Bernard J. Simbole, Esq. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement.