Do-it-yourself Wills and Trusts are all over the internet, with promises of saving you money and protecting your loved ones after you’re gone. But don’t be fooled! They’re often way more trouble than they’re worth.
A comprehensive Life & Legacy Plan is about creating a strategy that lets you enjoy your life to the fullest while protecting your loved ones' future when you can no longer be there. It might seem like life insurance is an easy way to help secure your loved ones’ future – and it is – but your policy must be set up in the right way to have the best possible impact on your family.
Want to contribute to your grandchild’s future college education? The FAFSA Simplification Act, which went into effect in December, now makes it possible for grandparents to do even more to help finance their grandchild’s education.
It might seem a bit early to think about your 2023 taxes, but as the year draws to a close, it's the perfect time to take a closer look at your financial situation and make some strategic moves that can help you minimize your tax liability come April.
Getting married and starting a new chapter in your life is an exciting time. It’s also a time that requires a lot of housekeeping such as updating your address if your marriage includes a move, changing your tax filing status with your employer, and adding your new spouse to your bank and credit card accounts. But did you know that creating (or updating) your estate plan should also be on your post-wedding to-do list?
A lot changes once your marriage is official, but how you and your spouse want your finances to be managed or how you would want medical decisions to be made for each other are not automatically documented when you say “I do.” If you become incapacitated for any reason before your estate plan is complete, your spouse would not have the legal authority to make medical decisions for you even though you’re married. Your loved one would also have no access to your bank accounts, and in the event of your death, could even be put into a position of losing the home and possessions that you owned together. Instead, your choices for yourself, each other, and your life together need to be properly documented to ensure your wishes are respected and honored no matter what the future holds.
As a parent, you have probably thought about the importance of naming permanent legal guardians for your child in case something happens to you, and maybe you have already done it. If you haven’t yet, take this as the sign that now’s the time to do it, in case the unthinkable happens to you. But in some cases, naming permanent legal guardians for your child may not be enough to guarantee your kids will always be cared for in the way you want by the people you want. And, there may even be a risk of your kids being taken into the care of strangers or someone you would never want. Read on to find out if that’s the case for your family, and if it is, contact us to get your Kids Protection Plan® in place.
