- Retirement Planning
- Estate Planning
- Financial Security
Based on a recent poll over 70% of Americans don’t even have a will. Secured Capital Service provides all the legal documents to protect you and your family in case of your premature death or disability. Without proper documents guardianship of minor children, direction of estate distribution and access to important funds such as 401(k)’s, IRA’s or other retirement plans, as well as your individual or group life insurance programs will be determined by courts and attorneys and not by those who knows what’s best for you, and love you the most; your love ones.
Estate planning is primarily about people and their desire to provide for their loved ones. Given proper motivation, most people will devote the time and energy that is necessary to develop and adopt an effective estate plan with estate documents.
The nontax reasons for estate planning: The primary objectives of most estate plans involve estate creation, support and care of a surviving family and the orderly transfer of property during lifetime or at death. This often involves providing for the care of minor children, support for disabled children and elderly parents, and protection of loved ones from creditors. For some individuals the motivation to plan their estates is found in a strong desire to assure the survival of a business, or to provide for their church or a charity.
Income planning and protection: Making sure there are ample resources available to provide income throughout one or two lifetimes, necessary liquid assets in case of large medical needs in the future, and finding other sources of income to maintain the current living standards of the client’s surviving family are important and necessary considerations for planning. Unfortunately, all too many individuals do not plan properly. For those people one life event could be disastrous.
Coordination is important: It is often difficult, if not impossible; to design an effective estate plan without considering employee benefit programs and business disposition plans. Effective planning cannot be achieved unless there is an awareness of the interplay between the various strategies and techniques of estate planning, business planning, and employee benefits. For example, the liquidity needs of a business owner’s estate plan are directly influenced by whether the business is to be sold, continued, or liquidated. If the business is to be sold, then a funded purchase agreement may well provide all of the dollars needed for estate liquidity and family income. If the business is to be continued, then an employee benefit, such as split-dollar, could provide the necessary funds.