Why is it important to know how to make a legal will? Well, when you die, you leave your assets behind. This won’t matter much to you after it happens, but it will matter to the people you leave behind. That’s where your will comes into play. You see, we need instructions from you telling […]
Estate Protection
You can do everything right; stay out of debt, save and invest, and your family may still have nothing to show for it if you aren’t careful. This category explains estate planning in plain English so you’ll understand and be empowered to take action the right action. It also describes the simple and inexpensive things you can do to protect everything you’ve worked so hard for all your life.
Note: You should speak to a qualified attorney before taking action. This is not meant to substitute for appropriate legal advice.
Life Insurance Beneficiary: the Right Choice May Not Be Obvious
Choosing the right life insurance beneficiary is considered straightforward. You bought life insurance to replace your income in case you die prematurely. Whoever relies on your income now is probably a good person to name as beneficiary. Right? Well…not always. Sometimes this doesn’t work. If you name your spouse as insurance beneficiary, the money will […]
What Is a Revocable Living Trust?
If heaven forbid, you get sick and can’t take of yourself financially, how will your loved ones take care of you financially? If you die, how will your survivors know what to do with your estate? The answer to both questions is in the title of this post – a living trust – that’s how. […]
Life Insurance Beneficiary — Who Should It Be?
Selecting the right life insurance beneficiary isn’t a game of playing favorites. You need to do some smart planning in order to maximize the benefit to your family and thereby minimize the tax bite the government takes. The last thing you want to do is give all the loot to one person and force the […]
What Is Probate? (And How to Avoid It)
“What is probate?” That’s a question I hear often. In fact I was recently creating a financial plan for a client and this issue arose. The client, Betty, asked me about a family trust during our meeting. In explaining the advantages and disadvantages, the issue of probate came up. After about five minutes, Betty stopped […]
How to Protect Your Inheritance
I’m going to tell you exactly what you need to do in order to protect your inheritance. I know that you don’t really like talking about this subject. You don’t even like thinking about it. You want your parents and relatives to live a long healthy life. But you know deep in your heart that […]