If you have worked hard, saved regularly, and invested wisely, you undoubtedly want to protect the assets you have managed to amass as a result. To do that, you need to recognize the various threats to your assets and employ sufficient assets protection strategies to prevent those threats from materializing. For many people, simply recognizing the potential threats to their assets is the hard part because people often fail to see the numerous and varied ways that their hard earned assets could … [Read more...] about 3 Common Asset Protection Strategies
If you actually have a comprehensive estate plan in place you are to be commended, given the fact that over half of all Americans do not despite knowing the importance of an estate plan. Now that your estate plan is in place you can sit back and not worry about estate planning issues anymore right? Wrong! Creating your estate plan is certainly the first, and most important step when it comes to protecting you, your assets, and your loved ones; however, failing to take the time to review and … [Read more...] about When Should You Review Your Estate Plan?
If you do not yet have an estate plan in place it is likely not because you are unaware of the need for one. On the contrary, well meaning friends and family have likely “suggested” more than once that you need to get started on your estate plan. Like many people, however, your failure to create an estate plan is not because you fail to understand the importance of having one -- it’s just that you don’t know where to start. The best way to educate yourself about estates and Wills is by … [Read more...] about What You Need to Know about Estates and Wills
When it comes time to create your estate plan you will likely incorporate a wide variety of estate planning tools and strategies into the plan to ensure that all of your estate planning goals and objectives are reached. One of those tools will likely be life insurance, particularly if you are relatively young and have yet to build up a sizeable estate. The proceeds of a life insurance policy can be used to provide for loved ones, pay off debts, or even cover the expenses of your own funeral and … [Read more...] about Life Insurance Basics
The birth or adoption of a baby is a life changing time in your life. If you are becoming a first-time parent, it can also be a chaotic time as you try to plan for all of the changes to come. Creating or reviewing an estate plan is likely not something at the top of your list of priorities; however, whether you realize it or not, expanding the family should trigger an estate plan review.If you do not already have a comprehensive estate plan in place, you are not alone – over half of all … [Read more...] about Why Expanding the Family Should Trigger an Estate Plan Review
Philanthropy is an important part of life for many people. If you are a philanthropist throughout your lifetime you likely wish to keep on giving after death. Fortunately, a comprehensive estate plan provides you with the ability to do just that. Incorporating charitable gifts into your estate plan not only offers you the ability to continue giving long after death but it can provide considerable tax advantages as well. Topics covered in this report include: Direct Gifts – Why Using Your … [Read more...] about Free Report: Philanthropy in Your Estate Plan: How To Keep On Going
Your estate plan should be reviewed on a regular basis even if nothing occurs to prompt a review. While there is no hard and fast rule regarding the frequency with which your plan should be reviewed, scheduling a review every three years or so is best when you are under about age 40. The reason for this is that you are more likely to undergo major life changes during your 20s and 30s than you are later in life. Marriage, parenthood, career changes, and acquiring major assets such as a home are … [Read more...] about Free Report: Updating Your Estate Plan: Why It is Just As Important as Creating One in the First Place
When you create and execute your Will you have the opportunity to decide who that person will be by naming an “Executor” in your Will. When a decedent leaves behind an intestate estate an “Administrator” will be named by the court to oversee the probate process. For the most part, the roles of Executor and Administrator are the same. Your Executor’s first official duty will be to open the probate of your estate with the appropriate court. Typically, this is done with the assistance of … [Read more...] about Free Report: Executor Duties in New York: Why Your Executor Is So Important