Protecting Your Wealth
You and your family should keep what you've worked so hard to build. Take measures now to safeguard the future of your assets and ensure your peace of mind.
Update Your Insurance
Do you have enough coverage in place for yourself and for those who depend on you? Regularly review your insurance holdings, particularly your life insurance, to make certain that your family and your assets are well-protected.
Review Your Beneficiaries
If time has lapsed since you initiated some of your investment accounts or insurance policies, it may be time to refresh your list of beneficiaries. Who is reliant upon you for their income? And at what allocation? Review and maintain the list of those who need to be financially protected.
Prepare to Leave a Legacy
A will or estate plan are only a part of protecting your wealth. Involve your family members in your decisions and in your financial values. Educate them about your preferences and, more practically, on the location and logistics of important financial documents.
Make the most of irrevocable trusts, retirement accounts and education savings accounts that allow you to safeguard funds against tax penalties.
Top 3 Things You Should Know About Protecting Your Wealth
Asset Protection in Estate Planning
You've worked hard to build wealth, so you want to protect it from tax collectors, accident victims, healthcare providers, credit card issuers, and other creditors. Here are four ways to protect your accumulated assets: Liability insurance can provide much-needed assets if you are ever sued, A declaration of homestead can protect your primary residence, If you own a business, dividing your assets with your spouse protects the assets in their name, and Create an irrevocable or offshore trust to shield your assets
What is a trust?
A trust is a legal entity that holds assets for the benefit of another. Basically, it's like a container that holds money or property for somebody else. You can put practically any kind of asset into a trust, including cash, stocks, bonds, insurance policies, real estate, and artwork. The assets you choose to put in a trust depend largely on your goals.
How should I allocate my assets?Over 90 percent of investment returns are determined by how investors allocate their assets versus security selection, market timing and other factors.* Use this calculator to help determine your portfolio allocation based on your propensity for risk.
We look forward to helping you protect and manage your wealth. Give us a call, or complete the form and we will contact you.