Many of us are surprised that our assets may not go to those named in our Will. However, if you have assets controlled by beneficiary designations or other non-probate transfers, that’s the case. Read on to learn how a Will might not control all your assets. Read on to learn more. … [Read more...] about Beneficiary Designations and Other Non-Probate Transfers
Pet owners in Florida sometimes ask about pet planning, life insurance, and how they can use their life insurance policies to protect their pets. While it is possible to use life insurance as a way to look after your pets needs after you are gone, it is not as simple as listing your pet as the policy beneficiary. There are several steps you will have to take in order to ensure that your life … [Read more...] about Pet Planning and Life Insurance
When you have a young family, life insurance is an essential part of making sure that your spouse and children are financially secure in the event of your death. You likely have a mortgage to pay, you might have other debt, plus you want to provide for your children’s education. But by the time you’ve retired, your financial picture and your responsibilities have likely changed. You might not … [Read more...] about Do You Need Life Insurance If You’re Retired?
A loved one has passed away, and you’re named as beneficiary of their life insurance policy. Will there be proceeds for you to collect? This depends on whether the premiums were paid. The payment requirements depend on the type of policy in question: Whole Life Insurance: If the policy is a whole, or permanent, life insurance policy, then the policy must be “paid up” in order for the policy to … [Read more...] about When is a Life Insurance Policy Payable to a Beneficiary?
When people consider buying a life insurance policy, they’re usually thinking of providing for their spouse and children in the event they pass away. But, if you’re a business owner, you need to know what life insurance can do for you. The first step is to envision what you’d like to have happen to your business if you passed away unexpectedly. If Your Loved Ones Will Take Over If you plan to … [Read more...] about Own a Small Business? Don’t Forget Life Insurance
How much life insurance you need depends on many different factors, including, where you are in life, the size of your family, and your income and savings. Many young families don’t carry enough life insurance. Here are some factors to consider in deciding whether you have enough: How much of your salary does your family use to meet necessary expenses? If you were to pass away, how much … [Read more...] about Does Your Family Have Enough Life Insurance?
You hear a lot about the fact that you need life insurance, but what exactly is it used for? Once a loved one passes away, there are actually long-term and short-term uses for life insurance, as well as benefits for owners of family businesses. Long-Term Uses When they’re thinking about buying life insurance, people often focus on the “big picture” uses for the funds. These include: Paying … [Read more...] about Life Insurance and Estate Planning
Many young families, especially those where only one spouse is the breadwinner, keep only a minimal amount of life insurance. After all, it’s expensive, and there are so many other bills to pay and more immediate needs to take care of. Particularly in homes where there’s a stay-at-home mom or dad, it’s easy to have no life insurance or to keep just enough to cover daycare expenses or to hire a … [Read more...] about The True Value of a Parent