MEMBER FORUM HIGHLIGHT -- Life Insurance & Estate Taxes

Q:  Will my life insurance be subject to estate taxes? 

A: It depends – if you name your living trust as your beneficiary, then yes, they could be.  Then of course, the size of your estate will come into play as to whether they actually will be taxed.  Given this, you want to undergo proper planning to avoid having the insurance benefits taxed.

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MEMBER FORUM HIGHLIGHT -- Estate Planning Now or Later?

Q: I’m just beginning with regard to investing – do I need to do any estate planning now, or hold off until later? 

A: Of course, business owners and investors are most likely to need estate planning, but there are elements to it that apply to everyone.  For example, everyone should have a will and a living trust.  Then, as you start making investments, you’ll title those assets to the trust.  As you begin that process, make sure you’re working with an estate advisor and your usual tax advisor.

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Incapacity & Intestacy


Do you know the advantages of having a living will and trust? Do you know the importance of a durable financial power of attorney? Do you know what is intestacy?

If you answered "no" to any of those questions, then stop what you're doing and watch this video. In it, I'll help you understand the importance of estate planning basics, such as the ones mentioned above.

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Planning for Incapacity


Planning for incapacity is a crucial part of estate planning. It's vitally important to consider the types of end of life decisions that can impact all of the hard work and preparation you've done on your financial portfolio.

In this video, I'll cover some of the major areas you need to be aware of to plan for incapacity, such as:

-- health care directive definition
-- durable power of attorney for healthcare
-- what is do not resuscitate order

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Do You Need An Estate Plan?


In this video, we'll cover estate planning basics, answering the question "do I need an estate plan?" Consider this video to be estate planning 101.

If you've thought about how to avoid estate tax, who needs a will, who needs a trust -- any of these questions or concepts -- then make sure to watch this video.

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Introduction to Estate Planning


In this video, we'll discuss estate planning basics and introduce some estate planning strategies.

Other topics covered include:
-- do I need a will
-- do I need an estate plan
-- what is durable power of attorney
-- what is do not resuscitate order

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MEMBER FORUM HIGHLIGHT -- Estate Size Matters?

Q: Given the fact that my estate is small right now, what should I be doing for it estate planning-wise? 

A: At the very least, make sure you have a will, living trust and any necessary medical documents in place.  This will establish a foundation you can grow with.  And as always, make sure your estate and tax advisor are involved in the process.

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MEMBER FORUM HIGHLIGHT -- Estate Planning & Living Trusts

Today's Member Forum question we're highlighting deals with estate planning and living trusts: 

Q: Should I place my entity into my living trust? 

A: Yes, generally speaking, the trust will own the entity/asset.  You want to do this because the whole point of your trust is to avoid the probate process.  Therefore, you cannot have the asset titled in your name.

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Personal Finance 101: Holistic Financial Planning


In this video, we begin taking a closer look at certain financial planning basics and other personal finance 101 topics.

Most financial advisors just focus on investment management and product sales -- after all, that's how they make money, and unfortunately, too often they're looking out for themselves first.

This is why you have to learn financial planning basics, which includes tax planning strategies and wealth planning, and be able to synthesize it all into a holistic financial planning approach.

Wealth planning involves understanding asset allocation strategies; tax planning strategies involve income and estate tax minimization.

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Defensive Planning -- Financial & Tax Planning Strategies


Defensive financial planning encompasses a few key areas: financial planning basics, tax planning strategies, tax planning and management, insurance planning, and estate planning basics.

It's crucial that you examine and analyze where you stand in relation to each of these areas as you start to get serious about your financial planning efforts.

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