Many years of successful wealth accumulation can be lost in a
single momentous event such as those listed below. Any prudent individual,
concerned about serious wealth accumulation, will not discount the adverse
impact of one of these events occurring. Such a person would no sooner
ignore Personal Protection Planning than he/she would cancel the
homeowner policy on the primary residence. The cost of paying for the
homeowner policy is far less expensive than the cost of losing the home to fire
or water damage.
Key Issues:
Estate Planning - You
have only two primary heirs to receive the assets created from a lifetime of
work: your family and the Internal Revenue Service (IRS).
Without proper estate planning, the IRS is likely to receive more of your
estate than your family! The new 2002 tax act purports to do away with
estate taxes after the year 2010. However, this is true ONLY if
Congress prevents the "sunset provisions" from taking
effect. These provisions will revert the 2002 Tax Act, regarding
estate taxes, back to the current law unless Congress votes to reenact the
2002 Tax Act provisions (either extend or make permanent). Our estate planning specialists
"disinherit" the IRS so that your family receives your entire
estate in tact.
Asset & Lawsuit Protection - Protect
your valuable income and assets from the judgments of potential creditors,
especially if you are a property owner, business owner or you possess a
professional credential which exposes you to possible litigation. The
time to undergo this type of planning is BEFORE you have an identifiable
potential creditor or lawsuit.
Long Term Care - Another
devastating wealth depleting event for the retiree and, potentially, the
children of the retiree, is the admission of a parent to a long term care
nursing facility. With annual costs ranging anywhere from $35,000 to
over $60,000, a family's retirement capital can be completely wiped out in
just a few years! Qualifying for state Medicaid benefits generally
requires a family to meet state welfare standards. Our planning
strategies will legally conserve family retirement assets so that an outside
party will pay these costs. Long Term Care costs are rising nationally
at about twice the current level of annual inflation!
Disability or Death of Spouse - Most
families need BOTH incomes to support the family's lifestyle. The
death of a spouse generally eliminates that income stream and saddles the
surviving spouse with all of the existing living expenses plus additional
costs generally associated with loss of the deceased spouse's personal
contributions to the family's care (e.g. babysitting, cooking, cleaning, et
cetera). Disability of a spouse is even worse than death because of
additional expenses (e.g. retrofit the home for a disabled person, health
services not covered by insurance, et cetera) occurring to support the
disabled person.
Property and Casualty -
Personal wealth protection
requires that valuable assets be protected from unforeseen
circumstances. Risk is shifted to a third-party insurer so that
personal residences, investment real estate, automobiles and other valuable
property can be protected. An analysis is generally performed to
determine potential risks and the proper amount of insurance coverage and
features to minimize these risks. Then, a cost survey of available
insurance carriers is accomplished so coverage can be obtained at the lowest
possible price.
Life Insurance Review -
Often insurance is bought
without any formal needs analysis. This can be costly if unnecessary
insurance has been purchased or if your family's income needs have not been
met through an inadequate purchase of insurance. We can provide you
with a detailed needs analysis and review of your current policies for
proper insurance type and amount.
Proper personal protection planning involves
complicated assessment calculations to determine capital and income shortages,
given an adverse event occurs. Then, available assets, income and public
service resources must be matched against the assessed need. Finally,
financial strategies must be devised to gap any shortages. This type of
planning must be performed in advance of a family adverse event.
Estate Planning
Asset and Lawsuit Protection
Long Term Care
Disability or Death of Spouse (Lost
Income Planning)
Property & Casualty Insurance Review
Life Insurance Policy Review
Have your
financial planner contact me (no obligation)
Securities offered through 1st Global Capital Corp.,
Member FINRA/SIPC.
Investment Advisory Services, including fee-based asset management
accounts held through NFS, LLC, are offered through 1st Global Advisors,
Inc. All other financial planning services are offered through Financial
Dynamics, LLC. Financial Dynamics, LLC and 1st Global Capital Corp. are
not affiliated. Mortgage, credit and real estate services are offered by
entities unaffiliated with 1st Global Capital Corp.
