Categories for Estate Planning


Should you accelerate payments towards your mortgage?

January 29, 2017 4:13 am Published by 2 Comments

I see people do this all the time, especially in the pre-retirement group. Many people are uncomfortable having any debt, including their mortgage, and they are driven to enter retirement “debt free.” To rid themselves of debt they make an additional payments of principle each month, on top of the regular monthly mortgage payment. Is that a good move? Maybe. Let me explain what I mean. When you pay off your debt, you are avoiding the loss of interest. By avoiding this loss, you now have more money in your account. Thus, by avoiding a loss you have gain! Let me illustrate with two similar scenarios: Scenario 1: You invest $100 into a vehicle that grows at a rate of 10% per year. After a year you will have your original $100 PLUS $10. Those $10 are the money you gained by investing your $100. Obviously. Scenario 2: You BORROW... View More

Estate Planning

How Federal Benefits impact Estate Planning

September 11, 2015 8:00 am Published by Leave your thoughts

Question: How do my federal benefits impact my estate? Answer: To frame the answer to this question I will add another question – Why is that important?  By understanding the impact your benefits have on your estate you should be able to get the: Quickest distribution of your assets Correct distribution of your assets Maximum distribution of your assets (ie. minimize taxation and fees) To get the above results I will provide some Estate Planning basics.  But before I do that, I want to clear out of the way the Federal Benefits that are NOT part of your estate.   Which Federal Benefits are NOT part of your estate? Some Federal Benefits are part of your estate and other benefits are NOT.  Your estate includes assets that you own (or control) and are transferable to another person or entity.  Any Federal benefit that you do not own or is not... View More