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Posts from the ‘Estate Planning’ Category

Basic Planning for Young Families

As a young family, you will be facing a lot of new challenges that you may or may not be prepared for along the way. Whether it’s children, a mortgage, or unexpected expenses that come up, now is the perfect time to start thinking about all the potential pitfalls that may arise.

In this article we want to share some of the ways that insurance can help you stay ahead of these issues, as well as how to prepare yourself for some of life’s obstacles that you and your family may face.

What Issues Should Concern you the Most?

Now that you’re starting a family, your life is just one piece of the puzzle. Your spouse and any children are also top priorities, meaning that you should consider what could happen to everyone in a variety of scenarios. Here are some crucial questions you and your partner should discuss:

What happens if one of us dies? – While this question may seem a bit morbid, it’s a necessary possibility to plan for, particularly if you are a one-income household. Even with two breadwinners, chances are that your bills and financial responsibilities are too much for one person, meaning that you need to supplement any lost income as a result of one of you passing away. Read more

The Case for Life Insurance

 

When it comes to most forms of insurance, many people understand the importance of having coverage. Whether it’s your car, your home, or other valuable possessions, having insurance means that you’re financially protected should disaster strike.   One of the first things you do when you buy a new car is to make sure it is protected before you drive it off the lot.  Why? Because if you are involved in an accident chances are good you would suffer financially.

But, what about life insurance?

Although this form of protection works the same way as all other types of insurance, many are reluctant to open the conversation.  Perhaps one reason is that life insurance involves the planning for the worst-case scenario – your death.  The truth remains however, that if someone, your family or your business for example, would suffer a financial loss due to your death, life insurance is the answer.  In fact, life insurance is one of the smartest ways to provide for both yourself and your loved ones.

For today, take stock of your current situation and consider these important reasons why life insurance is needed: Read more

Do Retirees and Empty-Nesters need Life Insurance?

Now that the kids are out of the house, you should be shifting your focus on retirement. Since your money isn’t going towards feeding, clothing, and supporting your children (hopefully), you should be figuring out the best way to maintain your quality of life once you retire.

One of the biggest variables in this scenario is the fact that it’s impossible to know how long your money will have to last. Whether it’s 20 years or 40 years can make a huge difference, particularly if you’re not earning money from various investments.

With that in mind, we want to discuss how retirees (and soon to become retirees) can use insurance to help provide for their health and well-being well into their golden years. You don’t want to be left in the lurch because you failed to plan. Here’s what you can do. Read more

Protecting Estate Values When Your Investments Decline

The total net value of your estate represents what you will leave to your family when you die. It may include the following:

  • Your residence;
  • Cottage or other recreational property;
  • Investment real estate;
  • Stocks, bonds, mutual funds and commodities
  • Life insurance;
  • Any other assets you wish to leave to your heirs.

After paying off any liabilities, taxes arising at death, last expenses etc., what is left over is what your family will use to maintain the lifestyle that you created for them.

Two easy ways to make sure debt and investment losses do not impact the estate you leave for your family Read more