About Me

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John Nicholson is the founder of www.The 401K Man.com, an independent insurance & financial services agency dedicated to helping others find their solutions through the myriad of choices when seeking insurance, retirement and financial advice. John's career path began with helping others in the late 1980's and early 1990's. The 401K Man is an independent agency servicing the Midwest which provides a wide variety of choices as opposed to one size fits all plan available at many of the larger financial or "brand" insurance companies & firms. We offer many solutions from basic insurance policies to comprehensive estate planning.

Friday, February 14, 2014

The Importance of Trusts


Trusts are used many times to protect your assets in retirement and used for estate planning. It is very important to start your planning early through using a trust for your assets and retirement in order to maximize the benefits you may be eligible for in retirement. A trust might be beneficial for planning on how to provide for loved ones.  
What most people do not grasp or recognize until it is way too late is the importance of setting up trusts and estate planning to benefit your family and loved ones. Many do not know of and are unfamiliar with the term "look back" which the government takes from you and your appointed heirs when you transfer an asset.
You need a 5 year time frame preceding the need to remove yourself from your named assets prior to going to the hospital or nursing home for an extended stay which you may not be financially capable to cover.
 A trust when properly instituted will allow for you to leave your estate safe from creditors, taxes and could also protect you and your family potentially from frivolous lawsuits. We at Estate Planners & Insurance Consultants EPIC-LLC, The401Kman and 401(K) Fixes have access to attorneys who are specialists in this field of work.We will be glad to help with understanding the difficult choices. Most people do not know of the twenty plus different types of law. To many wrongly assume that any attorney will suffice when it comes to estate planning. Our organization has access to Estate Law, Trust Law and Elder law specialists. If you would like more information on how to find the proper specialist for trusts please call toll free at 877-775-0812