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Elder Law Series begins in February

Plymouth Community United Way in partnership with the Plymouth Community Council on Aging presents a free Elder Law Series with attorney Gary S. Allen beginning 10-11:30 a.m. and 6:30-8 p.m. Thursday, Feb. 20, at Plymouth Township Hall, 9955 N. Haggerty.

 

Allen, an estate planning & elder law attorney, continues the series Thursdays Feb. 27. March 6 and March 13 with sessions offered at 10-11:30 a.m. and 6:30-8 p.m. Advance registration required. To reserve a space, call Plymouth Community United Way at 734-453-6879, ext. 7.

 

Topics include:

Estate Planning, Feb. 20. Avoiding probate, discussion of wills and power of attorney for financial and healthcare purposes, Lady Bird deeds, changes to 2013 Federal Estate Tax. Learn why you do not want to hold a deed for recording after death.

 

Outliving Your Assets, Feb. 27. Seventy-percent of retirees need long-term care. Learn about long-term care insurance and combining it with life insurance, how to qualify for Medicaid, convert financial assets into guaranteed income. Create a guaranteed lifetime pension for you and your spouse.

 

Retirement Accounts, March 6. IRAs. 401K, 403b, etc. Avoid up to 40 percent taxation on accounts at death, 10 percent and 50 percent tax penalties for improper withdrawals from retirement accounts. Convert taxable IRA to tax-free inheritance.

 

Taxes, March 13. Income and estates taxes are expected to rise in the future. Convert taxable assets into tax-deferred or tax-free assets. Reduce taxes on social security income. Learn about gift taxes and using a charitable remainder trust to reduce taxes.

 

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