Estate Planning/Wills & Wealth Building


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Estate Planning/Wills is often a difficult topic for most (including the creator of ) to confront.  However, we all have a “time stamp” on how long we will navigate this planet called earth.  Estate Planning is an effective tool for building and transferring wealth and you must know at least the basics of how utilizing effective estate planning can ease your burden while you enjoy life to the fullest.


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Unfortunately the creator of has a lot of experience in this area and in this discussion will try to share tips that could be helpful if you are now ready to confront this difficult area of Wealth Building.


As you put an estate plan together it is imperative that you have an insurance policy in place at the various points of your life stage.  By doing so you protect your family in a number of ways. Insurance is often the first and cheapest line of defense for doing just that.  It is also important that you realize that you must protect your family in the case of your early demise in other ways as well.  However, estate planning is an area of personal finance and wealth building that must not be overlooked!


It is also important that you manage your finances responsibly throughout your lifetime in all areas—comprehensively!


You must have a mental system that allows you to manage all areas of your credit and finances at all times!


You must have an effective understanding of how you can manage your estate more effectively and it is imperative that you gain that understanding and take action as soon as possible.


Speaking of life insurance—did you know that a trust can be the beneficiary of your life insurance policy if it is set up correctly and that could be an effective strategy for you—depending on your net worth and future goals?


Did you know that probate in many states average 12 to 18 months to complete?  If you or a loved one were to make your transition and you had a will (or even if you did not have a will in some states) that could be a grueling time for you or your loved ones due to the probate process and the grief that you would experience during that  same period!


Did you know that Probate using a will—will be made public—while a “living trust” will not?


If you were to transition “Intestate”—state laws rule.  If you transition while having a will—or you transition with no will—then probate could be in your or your loved ones future.


Benefits of a Trust


With a Trust—you can control distribution of your assets to your heirs or other causes that are dear to your heart.  For example, you could leave 1/3rd, 1/3rd to your 2 children and 1/3rd to your favorite charity—or you could do a 50—50 split to each child.  You can leave what you desire to the church(s) that you choose, the college(s) that you choose or the charity(s) that you choose in a more appropriate and definitive manner in most cases!  The limitations are only limited by your (and/or your attorneys imagination) and the constraints of the laws in your state.


You can specify how your child will receive income or distributions—or if they will receive any income at all, you can specify how your adult children will receive income and at what intervals, you can specify that your loved ones receive income at retirement age and thereafter, you can specify they receive no income until they are off drugs and verified along the way that they are off drugs by having trust beneficiaries take scheduled drug or alcohol tests—you name it a trust attorney can draft it in your living trust if it is allowable by law in your state.


You can help protect your heirs from creditors with a “drip release” if your heirs are facing divorce or other life challenges—NOW OR IN THEIR FUTURE.


In short, your Living Trust can be set up to spell out your wishes!  You must always realize that a trust is more difficult to contest than a will or having no will at all!  That is a major advantage—plus a trust will not be made public!


Always realize that your life insurance is part of your estate for estate tax purposes in virtually every state.


With a Living Revocable Trust—you can add assets (the trust owns your assets) and avoid probate.   You would be the “trustee” while you are alive and a “successor trustee” (that you could choose now) would take over upon your transition.


Even a will that leaves everything to your spouse may not be effective as a living trust—it depends on your situation.  In many instances a living trust is better than a deed transfer for real property when estate planning.


Why go through probate in your state when a living trust could be a better option for you and your family?  Grieving is hard enough without the headache of probate.


If you have a will—an executor of your estate will be needed!  Even if you feel you have modest income a living trust and/or a will may be effective tools for building wealth for either you or your loved ones.


Now that you understand estate planning/wills better—it is the desire of that you will do better as it relates to transferring your estate or assisting your loved ones who will potentially transfer their estate to you.  Share your knowledge and realize that for several thousand dollars you could possibly set up the transfer of your estate in a manner that you not only agree with—but more importantly carries out your intended wishes.


Your heirs and others will not have to squabble and distance themselves from each other after you are gone.  Because you have intelligently looked ahead—and planned effectively while you were of sound mind for what lies ahead as best you could while you were here on planet earth—peace of mind happens as a matter of course on a daily basis in your life!


Avoid uncomfortable conversations and confrontations with your children, siblings and other family members in the future—have peace of mind now—a consultation with a highly competent living trust attorney may be able to show you how.




If you are single three-thousand and up—if you are married five-thousand and up generally speaking, but depends on your state and how complex your situation is.  Every situation for estate planning is different and will require a legally crafted solution based on your income, assets, future goals and many other factors.


A Durable Power of Attorney and Advanced Directive with Power of Attorney for Medical Purposes can also be included inside a living trust for an additional fee.


NOTE: It is important that you realize that the above discussion is not intended to be legal advice but is provided in an effort to get you thinking at a higher level about a topic that is difficult for most to confront!


Even so, it is better to confront on the front end what you desire to happen after your transition (no pun intended) if you desire to live more abundantly and have peace of mind by knowing what lies in the future for your family, your heirs and other causes that are dear to your heart.


It is the desire of that this discussion has forced or inspired you to look at your estate in a more comprehensive and all-encompassing manner and will lead to you taking the necessary action to responsibly leave your finances and your estate after your transition to those who you love (along with the causes that you love) in a manner that serves your desires and wishes.


Now is not the time to rest…

Now is the time that you give it your best…

CHEERS to your future success…


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