Have you thought about what will happen to your house, bank accounts and other assets when you die? If you’re like most people, you may have thought about it vaguely. You may even have written a will to designate heirs for your estate, but chances are that you haven’t thought much about estate planning beyond that. CLA USA, a financial services company that focuses on estate planning, asset protection and financial stability for older adults, believes that more adults need to have conversations about senior estate planning and asset preservation. According to the company, anyone who will be leaving any assets to a surviving spouse, children, grandchildren or any other heirs should take a serious look at how retirement income, taxes, fees and other expenses might affect the estate they plan to leave to their heirs. If you’ve never thought about estate planning, there are some very good reasons why you should have a serious conversation with a CLA USA professional about ways to position your assets so that they’ll be there for your entire life and beyond.
Conservative Financial Planning for Retirement
Retirement planning is the first important part of estate planning. The first priority in any type of financial planning is to ensure that your assets will last throughout your retirement and cover all of your needs as you grow older. CLA USA offers services and financial products that can help ensure a positive income stream throughout your life, as well as insurance and other financial tools to protect your assets against the unexpected expenses of long-term care or catastrophic illness.
Surviving Spouse Benefits
Will your spouse have the income he or she needs after you pass on? There are many ways to ensure that your assets will be immediately available to your spouse and other heirs, and CLA USA agents are versed at explaining the various options so that you can make your own informed decisions about your finances and your estate. Because estate matters can be complex, CLA USA agents also encourage all clients to consult their own tax attorneys and accountants and will cooperate in every way to make it easier to get good advice about your estate plan.
Taxes on Retirement Income
Income from social security is seldom enough to live on comfortably, but if you’ve had the foresight to make successful investments to bring in income throughout your retirement, you may end up owing taxes on your retirement benefits. CLA USA can help you position your assets in a way that reduces or even eliminates your tax liability on Social Security and other retirement benefits.
Medical Expenses
Today’s retirees are living longer than ever. The expenses for long term care and unexpected medical expenses arising from catastrophic illness can wreak havoc on your retirement plans. Careful, conservative financial planning can help you reduce the impact of those unexpected expenses on your estate. CLA USA offers options that include long term care and catastrophic illness insurance that can help preserve the nest egg you built and ensures that your medical and care expenses are met responsibly, without placing an undue burden on your family.
In addition, CLA USA offers a full range of estate preservation strategies and tools that can help you reposition your assets and arrange for transfer of your assets to your heirs in ways that reduce tax liabilities and maximize the benefits your heirs receive.
Why CLA USA?
For over 20 years, CLA USA has focused on providing senior estate planning and conservative financial planning for seniors and older adults. The Dallas Better Business Bureau recognizes the company’s reputation for excellent service by awarding an A+ rating to CLA USA.
