Estate Planning

Estate planning involves preparing a series of tasks to effectively manage an individual’s financial situation in the event of their incapacitation or passing. This process includes the distribution of assets to heirs, settling estate taxes and debts, and addressing other important considerations such as guardianship arrangements for minor children and pets. Key steps in this process may include cataloging assets and debts, reviewing financial accounts, and drafting a will.

it is a strategic plan that sets out how your charity will move from the present position to its desired goals by the end of a specified period. The format of your plan will depend on your charity's needs and who you are communicating the plan to.

Yes. Funeral Concierge plans provide guidance and resources to prevent unexpected funeral expenses that can arise during end-of-life care or after death has occurred.

"International life solutions" typically refers to a type of life insurance policy designed specifically for people who live and work abroad, providing coverage worldwide, meaning beneficiaries receive a death benefit even if the policyholder passes away in a different country than where they originally purchased the policy; essentially, it's a way for expats to secure life insurance regardless of their location globally.

Cash flow solutions refer to the strategies and methods that organizations employ to enhance their cash flow, which encompasses the movement of funds in and out of the business. The primary objective of these solutions is to increase the inflow of revenue while minimizing expenditures, or to achieve both outcomes effectively.

A credit enhancement plan is a strategy to improve your credit score, which can lead to more favorable rates on loans, credit cards, and other financial products.

No. Permanent life insurance is a type of life insurance that lasts your entire life, as long as you pay the required premiums.

Key Person Insurance is a life insurance policy that a business acquires on a key employee, such as a founder, owner, or executive. The business is responsible for paying the premiums and will receive the death benefit in the event of the insured individual's passing.

An Executive Bonus Plan is a compensation strategy designed to reward key employees with additional benefits, which may include life insurance, cash value, or a combination of the two.

Your Family Bank allows individuals, families, and business owners to develop a customized financing program that captures a portion of the interest typically paid to financial institutions, putting it to your advantage.

Term life insurance is a specific type of life insurance policy that offers a death benefit to beneficiaries for a predetermined period. The term length typically ranges from 10 to 30 years, during which the policyholder pays a fixed premium.

Asset protection plans are legal strategies designed to safeguard assets from creditors, litigation, divorce, or legal judgments.

Split-dollar life insurance is a strategy that allows the sharing of the cost of a premium for a permanent life insurance policy. They are often a key part of an executive compensation package and can provide a benefit to both the employer and employee.

Financial DNA identifies your unique financial personality and preferences. We assist you in uncovering this through a thorough assessment conducted collaboratively.

The Eight Financial Breakthroughs concentrate on the journey toward financial stability and abundance, emphasizing the importance of understanding various concepts, starting with a comprehensive knowledge of money management.

A financial roadmap serves as a straightforward visual aid to assist you in identifying your financial priorities and long-term objectives. It is structured to help you optimize your financial resources by aligning short-term goals with your overarching long-term aspirations.

Understanding the significance of the Three Rules of Money is essential in today's financial landscape. Traditional models for generating retirement income have largely become outdated, prompting the need for a new retirement strategy focused on personal responsibility. A comprehensive grasp of compound interest, investment options, and the implications of taxation are fundamental principles crucial for positioning oneself for success.

A 457 plan is a tax-advantaged retirement savings plan for many state, local government, and some nonprofit organization employees. The 457(b) is the most common type. Like a 401k plan in the private sector, the 457(b) allows employees to save pre-tax earnings in an account, reducing their annual income taxes while postponing the taxes due until the money is withdrawn during retirement.

Annuities are investment products offered by insurance companies that can assist in establishing a guaranteed income stream or a retirement savings fund. They effectively enable individuals to create a personalized pension fund or Individual Retirement Account (IRA). Annuities are available in various forms, allowing investors to pursue a range of retirement objectives.

Deferred compensation refers to a plan in which an employee chooses to postpone receiving a portion of their compensation until a designated future date. This option is often selected by highly compensated executives.

A Simplified Employee Pension (SEP) is an Individual Retirement Account (IRA) that can be established by an employer or a self-employed individual. Small businesses and self-employed individuals can utilize SEP IRAs to address their retirement savings requirements. The contribution limits for SEP IRAs are set annually and are often higher than those for standard IRAs and 401(k) plans. A Simple IRA is designed to be opened by a small business owner on behalf of up to 100 employees, including the owner if that person is a sole proprietor. Simple IRA contributions can be from both an employee and an employer.

A traditional IRA and a Roth IRA are both tax-advantaged options for retirement savings; however, they vary in terms of how taxes are applied to your contributions and earnings: Traditional IRA Contributions are made with pre-tax dollars, which reduces your taxable income for the year you contribute. You pay taxes on the contributions and earnings when you withdraw the money. Roth IRA Contributions are made with after-tax dollars, so there's no immediate tax break. When you retire and start withdrawing from your account, the money you paid in and the money earned is tax-free.

A 401(k) plan is a company-sponsored retirement account in which employees can contribute a percentage of their income. Employers often match a percentage of the contributions. There are two basic types of 401(k)s—traditional and Roth—which differ primarily in how they’re taxed. Employer contributions can be made to both traditional and Roth 401(k) plans. A 403(b) plan, often known as a tax-sheltered annuity (TSA) plan, is a retirement plan specifically designed for eligible employees of public schools, tax-exempt organizations, and certain ministers.

A pension plan is an employee benefit in which the employer commits to making regular contributions to a designated fund, ensuring that payments are available for eligible employees upon their retirement.

A profit-sharing plan is a retirement strategy that distributes a portion of the company's profits to employees, determined by its quarterly or annual earnings.

Disability income insurance offers financial support to insured individuals who are unable to work due to an accident, injury, illness, or disability.

Short-term disability (STD) is an insurance benefit that provides a portion of your income for a limited period, typically ranging from a few weeks to a few months, when you are unable to work due to a temporary illness or injury. Long-term disability (LTD) offers income replacement for a more extended duration, often lasting several years or until retirement age, for individuals who are affected by a long-term disability that prevents them from working.

Medicare plans are health insurance options for people who are eligible for Medicare.

Long-term care encompasses a variety of services and support for individuals with chronic illnesses or disabilities, as well as those at risk of declining functional ability. This care may include both medical and non-medical support, and is often referred to as "custodial care" or "long-term services and support."

No. A health insurance plan is a contract between you and an insurance company that covers a portion of your medical expenses in exchange for a premium.