|
Lyster, Inc. Content Lyster, Inc.
Passages Archives Feedback Note: Nothing in this publication is intended or written to be used, and cannot be used by any person for the purpose of avoiding tax penalties regarding any transactions or matters addressed herein. You should always seek advice from independent tax advisors regarding the same. [See IRS Circular 230.] Content: Copyright © Integrity Marketing Solutions |
Volume Ten 
Number Five
May 2012
Inheritance Planning Strategies & Saving for RetirementMajoring in Minors
Learn more about inheritance planning ... Leveraging Legacies
|
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? Who would you entrust with the responsibility of rearing your minor children to adulthood? By default, any surviving parent will be the legal guardian (i.e., back-up parent) over your minor children.
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!Did You Know?
Did you know that:
While three in ten Americans DO have a plan, the average age of a will coming into a law office for update or probate is nearly 20 years?
A Power of Attorney of similar vintage may be rejected by banks and other third parties?
In three out of four cases, a Health Care Directive (also sometimes called a "Living Will") is unavailable when needed?
-
Ten out of ten Americans MISTAKENLY believe that life insurance proceeds are automatically exempted from Federal Estate Tax?
The Wills of most married couples control ONLY personal effects?
There are legitimate means of leveraging the $13,000 annual gifting exclusion, of avoiding capital gains tax on super-appreciated low-yield assets, and of ensuring that 99% of assets flow to the next generation in a thoughtful, protected manner?
Pocket ProtectorsTips to help you protect your pocket!Life Insurance Settlements |
|
|
Ask Yourself These Important Questions About 
|
Would you like to receive this e-newsletter every month? Click Here to Subscribe. |
For a printer friendly
version of this E-Newsletter,
click
here |
