How you select and name your IRA beneficiaries is a central part of your estate plan. Understanding these IRA restrictions is the only way you can make sure your beneficiaries will get the money when you’re gone. I recently received an e-mail from “P” pointing out how important this issue is: “My sister asked my […]
Archives for July 2010
Flood Damage Insurance – How to Get the Right Policy
Flood damage insurance is a tricky subject. Most homeowner’s insurance policies do not cover damage from floods. And people often opt out of the coverage. That could be a big problem for you. It’s certainly not the best way to save on homeowner’s insurance. One way to solve the problem is to buy flood insurance. […]
When and How to Cancel Life Insurance
The right time to cancel life insurance is when you no longer need it. That may seem like a smarty pants response, but I’m completely serious. Maybe if I share a story or two with you, you’ll see what I mean. Jean bought whole life insurance years ago in order to pay estate taxes. (To […]
5 Tips on How to Make Your Own Living Trust Online
You can make your own living trust online very easily. For those of you who aren’t familiar with this subject, a trust allows you to control who receives your assets after you die. But that’s just the tip of the iceberg. A living trust also helps your beneficiaries avoid the expense and delay of probate […]
How to Make a Business Successful – The Secret Sauce
Part of the “secret” of how to make a business successful is to first understand whether you are a “personality business” or a “product business.” If you look at most of the great small businesses, they fall into one of these two camps. Let me explain. Personality Businesses A personality business is run based on […]
Estate Tax Changes Mean You Need a Living Trust Update
Recent estate tax changes indicate you may need to have your trust reviewed now. As you probably know, the estate tax in 2010 is 0%. That means if you die this year, you won’t have any estate tax to pay regardless of how wealthy you are. Believe it or not, this estate tax change could […]