Category: Estate ProtectionBefore you get an LTC(Long Term Care)insurance quote, you should know a few things.
At it’s most basic form, it’s a policy that pays you money if certain things happen to you physically. The insurance company doesn’t reimburse you for your medical costs like health insurance. It simply pays you a predetermined amount of [...]
IRA Beneficiaries – How To Safeguard Yourself and Family
How you select and name your IRA beneficiaries is a central part of your estate plan. It’s the only way you can make sure your beneficiaries will get the money when you’re gone.
I recently received an email from “P” pointing out how important this issue is:
“My sister [...]
You can make your own living trust online very easily.
For those of you who aren’t familiar with this subject, living trusts allow you to control who receives your assets after you die.
But that’s just the tip of the iceberg.
They also help your beneficiaries avoid the expense and delay of probate normally associated with wills. If [...]
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 easily ruin your estate [...]
The Right Time To Review Your Living Trust
First, if you’ve taken the time to set up your living trust, congratulations.
You’ve done a huge service to yourself and your family by going where so many people fail to go.
But before you break out the Champagne, keep in mind that your job isn’t complete.
You’ve got to review [...]
Should You Form An Irrevocable Life Insurance Trust?
You should form an irrevocable life insurance trust if you have a very high taxable estate.
Estate tax isn’t really an issue in 2010. There is no estate tax this year. But as time goes on, this will be important to you.
Why?
Because it’s highly likely that estate taxes will [...]
Naming a professional trustee for your living trust is a dangerous proposition.
Let me share an example.
Joanie and her brother have been trying to settle their mother’s estate for the last 2 years.
It’s a small estate and their mother set up a living trust before she died. They never expected all these problems.
But after shredding nearly [...]
What is a power of attorney?
A power of attorney is a document you sign that grants another person the power to act on your behalf in case you are unable to do so.
It doesn’t take long to set it up and once you do, you’ll have a great deal of peace of mind.
Why?
Well…because the power [...]
You might already know by reading my story that by the time I was a senior in high-school both my parents passed away.
Before they died, they had an estate plan.
If you take the right steps you can do your family and yourself a big favor. Just like Michael Jackson did.
I live in Los Angeles. Today, the city is going to shut down and pay tribute to the controversial Mr. Jackson – but maybe for the wrong reason.
You see, the media is in a [...]
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