When it comes to life insurance, having coverage that matches your financial and personal needs: enough to replace lost income in case of death or incapacity, settle debts and cover expenses like tuition and mortgage payments. However, when your coverage exceeds those needs, you may have too much life insurance.
A good rule of thumb
Working recently with a client who is a widow, I asked why she had a financial planner, she replied, “Because I don’t want to run out of money” Her sister Joan, on the other hand, didn’t need one. She’d already run out of money.
In Joan’s case, the problem came out of the blue. It
Funding a trust is the process of transferring your assets into the ownership of a trust and re-titling them in its name. Think of a trust as a car and your assets as the fuel. Without funding your trust – essentially filling the tank — your estate planning vehicle isn’t going anywhere.
An estate plan
When it comes to life insurance, you might notice that it’s often more expensive for men than for women. While this disparity may raise eyebrows there are specific aspects that insurers rely on to justify the cost difference. From statistical life expectancy data to varying risk factors, we’ll delve into some of the reasons why
Over the course of our practice, we’re asked to review a lot of term insurance policies. One of the first pieces we look at is the conversion option. This section is basically a promise from the insurance company that you will still be given a preferred rate, even if your health changes.
Here’s a look
I recently took a road trip with an old college buddy of mine. We had a fabulous time. You see, one of the things about a road trip is that it clears my brain. It’s not about the destination. The road you’re on and the car you’re driving make it all about the journey.
It
