Life has become so complicated! How can one make sure that you have done all that you can to protect yourself and your family. We all are concerned about our finances, minimizing taxes, and paying for health care especially long term care. We also want to help our families and our communities.
Many of my widowed and divorced clients have gone on to remarry later in life (maybe even for a third time). It’s wonderful that they’ve found happiness, but from an estate planning point of view, it can be a real challenge to make sure that love does conquer all. Given their later stages, re-marrieds come to the altar with an array of entanglements- children, grandchildren, property, businesses, assets, health
There’s nothing more disturbing than to see an individual using an inappropriate Life Insurance product for their needs. For example if one wants to have maximum protection with the lowest cost possible, for a specific time period say 5-30 years ending by age 80) you should only consider Term Insurance. An example of where this is appropriate involves the breadwinner of a young family desiring to provide maximum coverage so that his Family can continue their lifestyle in the manner they were accustomed to even if the breadwinner were no longer here to provide for their monthly living expenses and college costs.
If on the other hand you want your insurance to last beyond age 80, for example to create an inheritance for your kids or grandkids, or to be used to pay for your estate tax if you are not married, then and only
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