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Volume Ten • Number Five • May 2012

Inheritance Planning Strategies & Saving for Retirement

Majoring in Minors

Majoring in Minor Children Do you have any minor children (i.e., under age 18 in most states)? If you do, then your calendar is likely filled to overflowing with their school commitments and extra-curricular activities. Besides time, all of these commitments and activities require money ... and lots of it. Since your children are worth the investment of both your time and your money, what plans have you made for them in a world without you? What would happen if your children were orphaned today?

Learn more about inheritance planning ...

Leveraging Legacies

Planning with Section 529 Plans For many people, saving for retirement was once a top priority. Now, having reached retirement, they find that their resources may exceed their needs and they can provide financial assistance to others. Some retirees find satisfaction in supporting their favorite charities, their children or both. Still, others find great pleasure in helping their grandchildren, especially with post-secondary education funding. In fact, more than one grandparent has said if I knew how much fun grandchildren were, then I would have had them first!

Learn more about saving for retirement ...

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Pocket Protectors

Tips to help you protect your pocket!

Life Insurance Settlements
Are you age 65 or older, with a life insurance policy that you no longer really need or are you paying premiums you can no longer afford? Perhaps the policy was acquired to fund a Buy-Sell Agreement for the family business you sold, or for some other reason no longer relevant to your current financial and estate planning objectives. Regardless, rather than let the policy lapse, you may consider selling it for cash. The cash could be used for any purpose, to include for current health care costs, financing that dream vacation you have been deferring or helping grandchildren with college. Before selling your life insurance policy, however, be sure to get independent counsel regarding appropriateness issues and tax consequences. In addition, the sale of life insurance to third parties may be governed by your state laws and you will want to make sure everything about the proposed transaction is fully compliant. Contact your state insurance commissioner and the Life Insurance Settlement Association for more information.

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