An annuity is a contract that gives a person (called an annuitant) the right to receive fixed, periodic payments, either for life or for a set period of time. Many people choose to include an annuity as part of their retirement plan, to make sure that they’ll have a stable source of income once they stop working. You can pay for an annuity either in one lump sum, or by making a series of payments, and the annuity can be set up to give you payments either monthly, quarterly, biannually, or … [Read more...] about Financial Q&A: What Is An Annuity?
Buying life insurance is a chore that many people put off because it just seems too complicated; however, one of the biggest gifts you can give to your family is the peace of mind of not having to worry about financial troubles if you should pass away. So, how do you know how much you need? Consider these things: What expenses will your family face? Life insurance can be used for just about anything. Your family will likely need to pay immediate expenses like funeral costs, final medical … [Read more...] about How Much Life Insurance Do You Need?
Divorce is one of the most painful, disruptive life experiences you can have. Given the emotional stress and turmoil that goes along with many divorces, dealing with financial details may be the last thing you want to tackle. Paying attention to the details, however, can mean the difference between making a new start and having your past haunt you far into your future. Besides finding a good divorce attorney, you’ll also want to enlist the help of a financial advisor and estate planning … [Read more...] about Divorcing? Protect Your Assets
One of the benefits of having a family limited partnership is that it allows you to keep your assets within the family. But did you know a properly executed family limited partnership can also earn you tax savings every year? A good attorney can also help you understand how the processes of 'fractionalizing' and 'discounting' can maximize your death tax-saving benefits. What is a family limited partnership? A written agreement giving details of responsibilities, rights and duties of … [Read more...] about How To Save On Taxes With A Family Limited Partnership