When you serve in the military you make a lot of sacrifices for your country. In return, there are some significant rewards that are offered to individuals who have been in the armed forces. For one, those who have served for at least 20 years are eligible to receive a retirement pension. As we all know most people who enlist in the service do so when they are young adults. So it is possible to put in those 20 years and then embark on a career as a civilian while you are … [Read more...] about The Rewards For Service
Blog
Estate Planning: Legal Assistance Required
You would never attempt to draw up a legally binding contract without the assistance of a licensed attorney. Yet, there are those who are under the impression that they don't need to retain the services of an estate planning attorney when they are executing estate planning documents and this is a big mistake. Back in the old West, you might be able to scribble down a last will directing the distribution of your horse, saddle, six-shooter and saddle bag and leave it with the saloon … [Read more...] about Estate Planning: Legal Assistance Required
Inheritance Planning Can Include Facilitating Educational Opportunities
One of the things that can be very difficult to digest when you are planning for the inevitable is the fact that you will no longer be around to provide guidance for your loved ones. While it is true that proper estate planning can make things easier for your heirs financially, there are some things that money can't buy and the wisdom of our elders is one of them. And on top of this that very money can sometimes do more harm than good depending on the individual involved and this is … [Read more...] about Inheritance Planning Can Include Facilitating Educational Opportunities
Estate Tax: A Punishment For Success?
There are a number of reasons why many individuals feel as though the estate tax is patently unfair. One of them is the fact that the estate tax is an instance of double taxation. The assets that comprise your estate were accumulated with funds that you were able to hang onto after paying all sorts of taxes including income tax, payroll or self-employment tax, sales tax, property tax, etc. These resources are not taxable while you are alive, but your death is somehow viewed as a … [Read more...] about Estate Tax: A Punishment For Success?
Celebrities Provide Legacy Planning Clues
Experience is undoubtedly the best teacher, but when it comes to estate planning you don't have the luxury of learning from your mistakes. However, you can become wiser by observing the mistakes of others. Though you don't have a window into the lives of people that you don't know, the media gives us perhaps too much information about the lives of celebrities. Some of the stories surrounding the estates of famous people can be instructive as you are making your own plans for … [Read more...] about Celebrities Provide Legacy Planning Clues
Making Provisions For Minor Children
Estate planning is going to involve inventorying your assets in anticipation of future distribution of the same to your loved ones. You must then decide on how you are going to get these assets from point A to point B. When you're doing this you have to identify those who will be receiving inheritances and ideally choose the vehicles of asset transfer that are appropriate given the age and proclivities of these recipients. Along these lines many people have to stop and take pause … [Read more...] about Making Provisions For Minor Children
Trust Creation Can Provide Tax Savings
Everyone has their area of expertise, and in your business you have probably seen what happens when people try to take things into their own hands without the proper experience and training. The same thing happens in the field of estate planning, and sometimes the biggest mistake is pure inaction. Depending on the form of your assets, your specific objectives and the size and scope of your holdings, the utilization of any number of financial instruments may be called for. The key is to … [Read more...] about Trust Creation Can Provide Tax Savings
Who Will Handle Your Affairs?
When you are going through life as a healthy adult it can be difficult to wrap your head around a period of time preceding your death when you may not be able to make your own decisions. There are those who recognize the fact that it is possible but they assume that it is unlikely. The facts tell a different tale. According to the Alzheimer's Association one out of every eight people who reach the age of 65 are suffering from Alzheimer's disease. As you get older it becomes … [Read more...] about Who Will Handle Your Affairs?
Anatomy Of An Estate Plan
Some people hear about the concept of comprehensive estate planning and they are not sure about what this entails. Depending on the size and scope of your assets and the exact nature of your intentions, the specific details are going to vary family to family. But there are some basic rudiments that comprise the anatomy of the modern estate plan, and we would like to take a look at them here. Asset Transfers The first thing that is going to come to your mind when you're planning … [Read more...] about Anatomy Of An Estate Plan
Estate Tax Parameters: Looking Ahead
Perhaps the most important matter to consider that is outside of your control when you are planning your estate is possible exposure to the federal estate tax. One of the reasons why there are a lot of people who do not think that the estate tax is fair is because of the fact that everyone is not required to pay it. If it is so necessary for the functioning of the government, why is it selectively imposed? And how can you fairly create an exemption amount and then change it on an … [Read more...] about Estate Tax Parameters: Looking Ahead
