Estate Planning

Beware of These Life Insurance Beneficiary Mistakes

Introduction Life insurance has long been recognized as a useful way to provide for your heirs and loved ones when you die. While naming your policy’s beneficiaries should be a relatively simple task, there are a number of situations that can easily lead to unintended and adverse consequences. Here are several life insurance beneficiary traps …

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Estimating Your Retirement Income Needs: A Comprehensive Guide

Introduction to Retirement Planning Understanding the importance of retirement planning is the first step in securing your future. But how do you start? One crucial aspect is estimating the income you’ll need during retirement. This task can be complex and varies greatly depending on individual goals and other factors. Starting with Your Current Income The …

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Navigating Estate Taxes with an Irrevocable Life Insurance Trust (ILIT)

Life insurance is a cornerstone of financial planning, offering peace of mind that your loved ones will be financially secure after you’re gone. However, many are unaware that life insurance proceeds can be significantly reduced by estate taxes, leaving less for your family than you planned. This is where an Irrevocable Life Insurance Trust (ILIT) …

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policy

New Life for Your Old Insurance Policy Life insurance can serve many valuable purposes. However, later in life — when your children have grown, you’ve retired, or you’ve paid off your mortgage — you may think you no longer need to keep your coverage, or perhaps your coverage has become too expensive. You might be …

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life

Things to Know About Life Insurance We inform, help and support the creative community Policies differ widely. Term life insurance pays out a death benefit if you die within the specified period, often 20 or 30 years. Because it only pays for untimely deaths, it is less expensive. Permanent policies, whole or universal, cost more …

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