Life insurance is universally recognized as an essential pillar of a financial plan for providing much needed capital in the event of a breadwinner becoming deceased. It is also fundamental to other planning needs, such as estate planning to pay for settlement costs and taxes, and business planning for business continuation or key person protection. However, considering the remarkab
Imagine the following scenario: You run a successful business with your business partner of 20 years. Your business partner dies unexpectedly. After the funeral, your deceased partner’s spouse shows up at your office with her two grown children. They ask for the key to your partner’s office – not to clean it out, but to move in.
There comes a point in life where you want to begin sharing or gifting all the things you’ve collected over the years—stories, wisdom, financial wealth. Unlike the Ancient Egyptians believed, you cannot take your worldly goods with you when your light goes out. You can share your wisdom in a manifesto or through funny tales to your family, but what about the money?
Most people think estate planning is only for wealthy people. Certainly, the 55% of Americans who died without a will thought so, even though all of their estates ended up in probate court subject to the laws of the state. Sadly, the surviving families were thrust into a situation that resulted in unnecessary distress, expense and, for many of them