You can take 3 easy steps and easily protect your assets. Besides health concerns, the worst fear you face is running out of money. People spend tons of time thinking about how to make more money, but they often fail to take the time to protect what they’ve got. How do you protect your assets? […]
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.
Does A Trust or Will Control All Your Assets?
If you set up the proper will or trust, you have the basics of a very strong estate plan. But without one or both of these tools, you are really courting financial disaster. Having said that, it’s important to understand that not every asset is controlled by your will and/or trust. In fact, most are […]
How to Avoid Family Probate
Unless you are gluten for punishment, do everything you can to avoid probate. Jim’s parents didn’t and it cost him over $200,000. Before I tell you Jim’s story, let me give you some background. What Is Probate? When you die, there needs to be a mechanism to pass whatever you own (your estate) to someone else. […]
What Does Joint Tenancy Mean?
Joint tenancy describes a way that two or more people can own any asset (real estate, financial investment, a car, artwork, etc.). Many people take title to property as joint tenants because it’s fast and easy and doesn’t require the services of a lawyer to set up. If you own something in joint tenancy that […]
How Estate Planning Basics Made Me Homeless and How to Make Sure It Never Happens to You
My folks didn’t understand estate planning basics and it cost me and my siblings huge. You might already know from reading my story that by the time I was a senior in high school, both my parents passed away. My brother and sisters and I were scattered to the wind and our family was destroyed. […]
Debt After Death – Are You Responsible?
Are you responsible for someone else’s financial obligations once they pass away? What happens to debt after death? Does it disappear or can creditors come after the family? Like most questions financial, the answer is “it depends”. The first issue to consider is if you are a co-owner or co-signer on the account. If you […]