Index to Estate Planning Content

Estate planning is a term that is used to refer to an individual, couple, entity, families entire estate value, including all their assets regardless of the asset type. Included below you will find a number of Estate Planning items and ideas. This information was created to harbor an environment of proactive action with concepts for prudent folks to ponder. "Food for thought" so to speak.

LTC Plan Design: Half a Loaf is Better Than None

State College, PA – Many years ago one of my mentors was famous for saying, “Half a loaf is better than none”. Maybe you’ve heard this old saying. It implies that it’s better to get half of something, than lose out accepting only the whole. I think of this phrase often when designing long-term care […]

Long-Term Care Planning: Logic or Emotional Paradigm?

Lewisburg, PA – When we get right down to the nitty-gritty of planning for this particular issue we consistently find it is the toughest question to answer, should one have a plan for LTC? What makes this issue ultimately so difficult to decide is that we do not know until the final analysis if care […]

Boomers: Children & Chaos

The WealthCounsel® and Trusts & Estates® Magazine recently published an Annual Industry Trends Survey. The survey compiled data from roughly 1500 industry professionals primarily made up of Attorneys, CPAs, Financial Advisors and Wealth management professionals. As the President of a Registered Investment Advisory firm, I find these trends interesting as well as insightful.  The report […]

The Gift That Keeps on Giving

The holiday season is upon us, which means gift shopping, visiting family members and planning for end of the year events. It’s easy to get caught up in the holiday mayhem year after year, and before you know it too many years could pass while you put off planning for your financial future.

We live in a fast-paced, high-energy society that is constantly on the move and always looking for shortcuts. As a result, certain aspects of our lives are often put on hold until a more convenient time when life isn’t so hectic. The fact of the matter is that life is always busy and sometimes we have to force ourselves to pay attention and take care of the important things now, so that we won’t pay the price down the road.

Smorgasbord Investing

Many people walk through life trying to be good stewards and prudent investors finding on the eve of retirement that they basically acquired a huge pot luck of various investments that were all supposed to work to retirements end.  Are assets earmarked for actual use and need or did you “buy” based on returns with […]

Investing with Looming Deficit

This week’s weekly clarity coaching is a video from Fox Business News discussing “How the Government Deficits Impacts How You Invest”. Mark Matson does a great job keeping the hype in check and once again providing a rational and prudent approach to the TRADITIONAL mantra “chase the market”.

Have you ever wondered why most of the financial information on the air waves is centered on short term news bites attempting justification for proactively managing our wealth?? Changing ones investment to correspond with the current economic environment?

The Taxman Cometh

This week’s weekly clarity coaching is a video I recently ran across of one of my favorite economists, Milton Friedman. It’s a 30-year-old interview. The interview is from March 21, 1982. I found this nostalgic and interesting because it’s the old panel format.

What Is The Value Of Human Life?

You may not want to put a price tag on it.  But if we really had to, most of us would agree that the value of a human life would be priceless. “It is established that the protection of one’s family, or those near to him, is the one thing most to be desired, and […]

What Is Equity In Your Home? Part One

This week, Paul Nichols, the president of Financial Abundance asks everyone another question. Does the cash inside your home, or your Equity, earn you a rate of return? Do you know the quickest way to pay off home? Watch this latest vidcast and you’ll find out the answers to those a few more questions!

What Is Equity In Your Home? Part Two

This week, Paul Nichols, the president of Financial Abundance answers questions on how to quickly pay off your home and how to maximize the equity that you have created. Watch this latest vidcast and you’ll find out the answers to those a few more questions! Financial Abundance operates under the core belief that education leads […]

U.S. Representative, Glen ‘GT’ Thompson

The following is an excerpt from U.S. Representative Glen “GT” Thompson, who will be featured on this weeks radio show, regarding the current health care debate. As a proponent of pulling back the curtain on the issues that matter to you, I thought it would be prudent to offer some insight to this issue.

Headline in The New York Times: “Public Option Push in Senate Comes With Escape Hatch.” I read that and thought, “Why have the Democrats crafted their health care reform in this manner? Why would they need an ‘escape hatch’?”

Mortgage Acceleration Plans

Most homeowners have the misconception that the wisest method to accelerate the pay-off of their home is to simply pay extra principal payments on their mortgages. Other homeowners are lured into thinking that bi-weekly mortgage payment plans are the answer. Still other homeowners utilize a 15-year mortgage rather than a 30-year mortgage. In actuality, none of these methods usually prove to be the wisest method to accomplish a “free and clear” home.

You can accumulate sufficient cash in a conservative tax-deferred mortgage acceleration plan to pay off a home just as soon or sooner than utilizing the methods described above. In addition, you will have the following advantages:

The Ethical Will: Voice for Estate Planning

In medieval times, Jewish men wrote letters to their sons, passing on guidelines for living a worthy life. These legacy documents were called “Ethical Wills,” and provided for meaningful, enduring communication between generations. Modern people of all ages and faiths are now rediscovering this beautiful and sensible tool.

An Ethical Will or “personal legacy letter,” is appealing because it provides thoughtful adults the opportunity to reflect on their own lives for the benefit of those who will follow them, and helps make sure that nothing really important gets ‘lost in the cracks’ between generations.

Major Transfers lack Wealth Management

In your everyday existence, you are confronted with transfers of your wealth. You continuously, unknowingly, give or transfer money away. Not only do you give this money away but you also lose the ability to earn money on that money once it is transferred. This compounds your loss. To eliminate or reduce these transfers, you must first learn to recognize them and then understand how directly or indirectly they cost you money. You may have to confront conventional financial wisdom. Remember, the ones giving you these financial programs tend to profit from them. Always ask, who would profit from these transfers? Here is a list of transfers that are worth investigating further:

-Taxes
-Qualified Retirement Plans
-Financial Planning
-Disability
-Credit Cards
-Tax Refunds

Caring for Your Spouse…Even After You’re Gone

Your spouse has been there with you through thick and thin. They have been your rock, the foundation upon which you’ve built your life. Your spouse has probably been your friend, confidant, and true partner.

If your spouse is ailing now, there are ways that you can protect them, even after you are gone. Let’s say your spouse has a slowly degenerative disease, like Alzheimer’s disease. Hopefully, their illness may be kept at bay. As long as you are there, you may intend to care for your spouse at home. But, what if you die first? At least one study has shown that caregivers themselves often get sick or die early because of the stresses on them.