What is the solution?
A steady retirement paycheck for life. Americans for Secure Retirement believes that for most people retirement security requires a regular and steady stream of income throughout their post-employment lifetime. In the past, Social Security and employer pensions provided workers with a steady stream of income. In the future, fewer and fewer workers will receive regular pension checks, and Social Security simply won’t keep pace with inflation, especially health care inflation. One retirement vehicle that provides a steady paycheck for life is a life-contingent annuity.
The problems with the government’s plan can be overcome. The solution is a properly drafted revocable living trust. Even if you have an estate with a gross value of only $110,000, you can save your family over $8,000 in probate court fees alone. If your estate is worth more, the savings can be much greater. Advantages to Having a Living Trust vs. Probate: Assets held in your living trust at your death can be managed by the trustee of your living trust and distributed in accordance with your directions in the trust. The trustee is accountable to your beneficiaries for the trust assets held for their benefit after your death. The trust is not under the direct management of the probate court after your death and, therefore, the value and nature of your assets as well as the identity of your beneficiaries do not become a public record. The distribution of your assets following your death will be much quicker with a trust than through probate. Assets held in a living trust can be more readi
