There are many different types of trusts, and they can be complex to set up and execute. However, a trust can be a very flexible and advantageous means to transfer your assets in the future. Most trusts can also provide current benefits, such as tax deferral and deductions. Unlike a will, a trust may help avoid probate upon your death. To learn more about trusts and how they may benefit you, we will be happy to help you consult a qualified estate planning attorney who may help meet your individual needs in these matters.
Estate planning is simply determining (while you’re still alive) where your assets should go after you die. Without a properly structured estate plan, your wishes may not be fulfilled, and there may be unintended consequences for your loved ones.
While the concept is simple, the vehicles, planning and implementation process can be rather complex. Because of the estate tax laws and the emerging vehicles to help you protect and transfer your assets effectively, it’s important to work with experienced estate planning professionals who stay current in this field and advise clients on a day-to-day basis.
We can refer you to professionals to help meet your individual needs.
Probate is the potentially lengthy and costly legal process that oversees the transfer of your assets upon your death. If you do not create a will or set up a trust to transfer your property when you die, state law will determine what happens to your estate. This is called intestate. Without a will or some other form of legal estate planning, there is the chance that your assets may not be distributed in the manner that you desire.
Your investment advisor is not permitted to offer, and no statement contained herein shall constitute, tax, legal or accounting advice. You should consult a legal or tax professional on any such matters.
LISTEN TO JOHN AND KARYN ON THE RADIO
2018 marks the 10th anniversary of the Great Recession of 2008. Despite a painfully slow recovery, U.S. economic growth has been sustainable. The stock and bond markets continue to perform well, unemployment is low and the economy is generally considered healthy and booming.LISTEN
You may think you know everything there is about Social Security, but even today in the Information Age there are myths and misinformation that persist. Today on Radio Evolved, Jon and Karyn go over several long-held ideas concerning Social Security and explain the facts as well as dispel the myths so you can get the absolute most from your benefits.LISTEN
Some people still have a traditional pension waiting for them to provide retirement income, but most do not. There are many strategies and options available to build one for workers who don’t have one available. Jon and Karyn take a look at straightforward steps you can take to build that lifetime retirement income using many different sources – Social Security, home equity, real estate holdings, annuities, and more.LISTEN
By: Karyn Damschen
Women live, on average, ten years longer than men. Women also tend to earn less than men in their lifetimes, often due to working from the home raising children or caring for family members. Given these two facts, longer life and less income, it is important that women understand their Social Security eligibility and get the most out of their benefits. And 40% of recent women claiming their benefits were only 62 years old while only 3% were 70 when they claimed their Social Security– the age at which you would receive your maximum payout. If you claim your benefits early, you may receive a payment reduced as much as 30% of its possible value.[i] Since women may live over thirty years or more on that payout, it’s good to know your options. We encourage you to visit the Social Security website, or a local office, and look over your details, making sure everything is accurate.[ii] We may also be able to help you in this area.LISTEN
Many things can be done on your own for retirement planning, but there are areas where having a trusted financial professional can be a great benefit. Today Jon and Karyn go over four specific areas such as Social Security optimization, tax diversification, and others, where professional help can help maximize your ability to be sure the income is there for your post-working years.LISTEN