Don’t Let Poor Estate Planning Tear Your Family Apart

Even if your kids are grown up with families of their own, you can probably remember scenes of intense sibling rivalry when they were younger. In some families, that competition continues into adulthood- for others, it recedes as children age and mature. But it can all come flooding back while trying to divide up your estate after your death as your kids argue over who gets what.

Estate Planning Made Easy....Easier

A major intergenerational transfer of wealth is underway, like nothing before seen in this country-or the world, for that matter. Estimates from the Federal Reserve Board have the richest 5% of U.S. households likely to pass along nearly 60% of the nation’s wealth within the next 50 years.

Financial Directive Powers - Real Property, Business, Medicaid, Taxes, Personal Property

How does the financial directive differs in powers from a power of attorney? Collection powers to forgive, request and sue for money. Real property and personal property powers to bargain- banking powers- file and prepare tax returns- family maintenance for customary standard of living- conduct business interests for principal- social security benefits like Medicaid or Medicare.

Tax Sheltered Annuity TSA 403b - What is It?

Tax-Sheltered Annuity or TSA (also known as 403(b)) is an alternative retirement savings plan. Tax-Sheltered Annuity benefits are contributions to a Tax-Sheltered Annuity are done through a payroll deduction and are therefore taken out pre-tax. Rollover funds into other investment options such as 401(k), another 403(b) or Individual Retirement Account (IRA). Unlike deferred annuity, there are contribution limits of Tax-Sheltered Annuity. Tax penalties, income tax and excise tax on Tax-Sheltered Annuity.

Estate - When Friends And Family WANT Your Money

Few situations have a greater potential for problems as when dealing with money and relatives. If you've ever had a child ask you for a loan or a distant relative request money to start a business, then you know just how touchy these situations can be. Here are some real-life situations, along with some simple steps to help you safely navigate the tricky waters that result from mixing family and finances.

Estate - Surviving Your Estate

Recently I shared the heart-wrenching story of a young soldier who had to deal with the unexpected death of his mother. She didn't have her affairs in order and now her son has the extremely difficult task of recreating her financial details from scratch. Here are some simple steps you can take to ensure that your loved ones aren't left in a lurch.

ILIT - The Irrevocable Life Insurance Trust

If you are contemplating buying life insurance to pay estimated future estate taxes, you will probably want to use an Irrevocable Life Insurance Trust. Here's why...

Why Most People's Beneficiaries Will Not Receive Benefits

Today I am going to talk a little about the problems I see with beneficiary selections on both IRAs and Life Insurance. First let's review exactly what a...

Protect, Provide & Profit - A Family Limited Partnership

Wealth builders are finding that this entity allows them to pass on their estate's equity, retain control of the properties, reduce tax rates and protect the assets from lawsuits. Its called a Family Limited Partnership.

Living Will

a living will can make difficult medical decisions so you family does not have too.

A Proactive Approach To An Exit Strategy Is The Only Approach To A Successful Exit Strategy

Today, there is a noticable lack of consistency in how Exit Strategy services are delivered to business owners. This inconsistency exists, even though succeeding a business is one of the most important and complex financial decisions that will be made in a business owners lifetime. In this article, John Leonetti, Esq., M.S. Finance, CM&AA discusses how a proactive approach to an Exit Strategy is the only approach to a successful Exit Strategy.

Death and Debt

What about your debts and when you die? Who is responsible for any outstanding bills to be paid when the person owing them has died? Does one get off scott free? Do their relatives have to pay for the debts their loved one had accumulated?

Asset Protection Options

When thinking of your assets and obviously you have or you wouldn't have found this article, you have looked into different options there are out there for you to protect your investments. These options are designed for both Offshore and Domestic assets. When deciding on which protection you need it also depends on the monetary value of your property. You need to also factor in the type of asset it is and what possible risk you face.