Archive for March, 2009
Patricia Woloch asked:
No one wants to think about their own death or the death of a loved one. To some it can seem a bit morbid to plan for what will happen to their property after they are gone. However, it is important for everyone, regardless of financial status, to arrange for their possessions to be distributed according to their wishes upon their death. Wills, living wills, trusts and living trusts are legal documents you can put into place to ensure that your property is given to the people or organizations you feel will most benefit from your personal belongings.
Wills
It’s a scary thought, but if you do not have a will in place when you die, the state will decide who will get your property and who will raise any children you may have. The people selected for your property and guardian of your children may or may not be ones you would choose for such important roles. By setting up a will, you can ensure that your wishes will be carried out, including:
· Who will take your property
· Who will be the guardian of your children
· Who will be the executor of your estate (carry out your wishes)
· Who will manage your property, if necessary
Basic wills are generally sufficient if you are in good health and have less than $2 million in assets. If your estate or family structure is more complicated or if you feel your family might contest your will, a more complex will may be necessary.
Living wills allow you to make decisions regarding medical treatment in the event you are unable to communicate due to a medical condition. You can also designate a person to make end-of-life care decisions for you if necessary. For example, you may decide that you do not wish to be kept alive by artificial means. Living wills allow you to spare your family members from having to make that difficult decision.
Trusts
A trust can work in conjunction with a will. Under a trust, one person is designated to manage the personal property for the benefit of another person or group of people. Trusts can help postpone or avoid estate taxes, provide financial protection for beneficiaries, provide an effective means of distributing or controlling property and more.
There can be many people involved in the creation and execution of trusts, including:
· Trustor: owner of the trust/property
· Trustee: individual or organization that holds the property’s legal title and is responsible for managing the assets
· Beneficiary: person who receives the benefits of the trust
Living trusts go into effect during the trustor’s lifetime. This property transpired into the trust is generally not subject to probate (where courts can transfer property upon the death of the trustor). These trust can either be revocable (changeable) or irrevocable (permanent).
Testamentary trusts will go into effect after the trustor’s death. Many trustors will set these up as irrevocable so their wishes can not be altered.
Do not let your personal estate or the lives of your children end up in the hands of the court.
Ezra Alexandropoul
No one wants to think about their own death or the death of a loved one. To some it can seem a bit morbid to plan for what will happen to their property after they are gone. However, it is important for everyone, regardless of financial status, to arrange for their possessions to be distributed according to their wishes upon their death. Wills, living wills, trusts and living trusts are legal documents you can put into place to ensure that your property is given to the people or organizations you feel will most benefit from your personal belongings.
Wills
It’s a scary thought, but if you do not have a will in place when you die, the state will decide who will get your property and who will raise any children you may have. The people selected for your property and guardian of your children may or may not be ones you would choose for such important roles. By setting up a will, you can ensure that your wishes will be carried out, including:
· Who will take your property
· Who will be the guardian of your children
· Who will be the executor of your estate (carry out your wishes)
· Who will manage your property, if necessary
Basic wills are generally sufficient if you are in good health and have less than $2 million in assets. If your estate or family structure is more complicated or if you feel your family might contest your will, a more complex will may be necessary.
Living wills allow you to make decisions regarding medical treatment in the event you are unable to communicate due to a medical condition. You can also designate a person to make end-of-life care decisions for you if necessary. For example, you may decide that you do not wish to be kept alive by artificial means. Living wills allow you to spare your family members from having to make that difficult decision.
Trusts
A trust can work in conjunction with a will. Under a trust, one person is designated to manage the personal property for the benefit of another person or group of people. Trusts can help postpone or avoid estate taxes, provide financial protection for beneficiaries, provide an effective means of distributing or controlling property and more.
There can be many people involved in the creation and execution of trusts, including:
· Trustor: owner of the trust/property
· Trustee: individual or organization that holds the property’s legal title and is responsible for managing the assets
· Beneficiary: person who receives the benefits of the trust
Living trusts go into effect during the trustor’s lifetime. This property transpired into the trust is generally not subject to probate (where courts can transfer property upon the death of the trustor). These trust can either be revocable (changeable) or irrevocable (permanent).
Testamentary trusts will go into effect after the trustor’s death. Many trustors will set these up as irrevocable so their wishes can not be altered.
Do not let your personal estate or the lives of your children end up in the hands of the court.
Ezra Alexandropoul
Peter Kenny asked:
A living trust may be the right choice for some consumers but it is not the right choice for all consumers. This article looks at some of the more common issues associated with living trusts.
First of all, it should be understood that a living trust is not the same as living will. They are two different things and should not be confused, one with the other. A living trust is a legal document that ensures that a person’s property is dispersed according to his or her wishes upon death. It can also be used to include issues concerning minor children and who the deceased wishes to have as guardian for those children.
A living will, on the other hand, is a legal instrument that carefully details the types of medical treatment a person wishes to receive, or not receive, should that person become incapacitated through illness or injury.
When you work with a living trust, you actually transfer ownership of your assets to the trust. You then appoint someone to act as the trustee and that person will administer the trust. The trustee may be a family member, attorney, friend, or even a business establishment such as a law firm.
By having a living trust, you can save your family and others some problems that might pop up later on after your death. The main issue that it can deal with is probate. A living trust does not have to go through probate court because your assets are technically no longer yours; they are owned by the trust. Only those items that are still in your name will be subject to probate. In order to keep your family from having to go through probate, however, you must make sure that all property has actually been transferred out of your name and into the trust. If you fail to do this, the living trust is void and the state controls the distribution of your property. If minor children are involved, the state will decide who raises them.
If you are considering the use of a living trust, be very careful with whom you work with. There are companies out there who will happily take your money in exchange for what they call “do it yourself” kits that are all but worthless later on when they are needed. The best way to make a living trust is to do it through a reputable attorney. In fact, some states will not allow validity of any living trust that is not handled through a law professional.
You should also be aware of the fact that a poorly written living trust can actually cost your loved ones more money than they might want or be able to spend. It is very important that you take the time to have your living trust set up properly and that you transfer your assets into the trust as required. No one likes to think about their own demise, but no one wants to saddle those left behind with undue burdens either. This can be especially important if you have minor children who will need a guardian in case you are not around to take care of them.
Janita Copier
A living trust may be the right choice for some consumers but it is not the right choice for all consumers. This article looks at some of the more common issues associated with living trusts.
First of all, it should be understood that a living trust is not the same as living will. They are two different things and should not be confused, one with the other. A living trust is a legal document that ensures that a person’s property is dispersed according to his or her wishes upon death. It can also be used to include issues concerning minor children and who the deceased wishes to have as guardian for those children.
A living will, on the other hand, is a legal instrument that carefully details the types of medical treatment a person wishes to receive, or not receive, should that person become incapacitated through illness or injury.
When you work with a living trust, you actually transfer ownership of your assets to the trust. You then appoint someone to act as the trustee and that person will administer the trust. The trustee may be a family member, attorney, friend, or even a business establishment such as a law firm.
By having a living trust, you can save your family and others some problems that might pop up later on after your death. The main issue that it can deal with is probate. A living trust does not have to go through probate court because your assets are technically no longer yours; they are owned by the trust. Only those items that are still in your name will be subject to probate. In order to keep your family from having to go through probate, however, you must make sure that all property has actually been transferred out of your name and into the trust. If you fail to do this, the living trust is void and the state controls the distribution of your property. If minor children are involved, the state will decide who raises them.
If you are considering the use of a living trust, be very careful with whom you work with. There are companies out there who will happily take your money in exchange for what they call “do it yourself” kits that are all but worthless later on when they are needed. The best way to make a living trust is to do it through a reputable attorney. In fact, some states will not allow validity of any living trust that is not handled through a law professional.
You should also be aware of the fact that a poorly written living trust can actually cost your loved ones more money than they might want or be able to spend. It is very important that you take the time to have your living trust set up properly and that you transfer your assets into the trust as required. No one likes to think about their own demise, but no one wants to saddle those left behind with undue burdens either. This can be especially important if you have minor children who will need a guardian in case you are not around to take care of them.
Janita Copier
dhlim88 asked:
My Ex and I have the mutual trust issues to prepare for a making up relationship in the coming months
I understand that it is not easy to maintain a relationship. What are the raw ingredients to build a relationship? They are trust, faith, honesty, confidence, rapport. Some of us may or may not have these components; nevertheless, we can learn all these through the experiences. If some have fully established a firm and solid relationship, then probably we can build up those components that we have not gained. What I will like to describe in the later part of this article is trust. Let’s take trust as an example.
The most common reason relationships end is due to a lack of trust. A relationship built up of accumulated lies, no matter how small will eventually weigh the relationship down and into a black hole. Each new lie manifests the next one and sooner or later, you will be jumping to conclusions and filling your head with imagined scenarios of what they’re trying to cover up for. This will be insulting to your partner and a lot of reasons why they would leave.
Regaining trust takes time and a lot of it comes down to your personal insecurities. If you are not 100% sure your ex is lying, why do you consider the worst case scenario first? The more you focus attention on something you ‘fear’, the more real it will become. Our imaginations can be powerful and the images we choose to see very vivid and real. If you know you have the power to change what you think, choose to consider other alternatives and weight them up equally.
If your ex has lied in the past but only in the past, you need to be careful you don’t falsely accuse them based on that incentive alone. Evaluate your present knowledge of the situation and once again weigh up the different possibilities. If you give your partner the benefit of the doubt, this is a better way to reinforce keeping honest than if you always accuse and assume the worst. On the other hand if you did a deed that disrupted your partner’s trust in you, you need to do something important and that is to be completely 100% honest with yourself first. The reasons for lying can range from the very tiny white lie to something large like cheating. Each situation will be different and weighed upon differently in your partner’s eyes, so gauge how large of a damage has been dealt. The size of the damage will be related to how long it will take to regain trust back.
One thing that is in your favour is that whatever mistake you have made. A good apology can work almost like a miracle. An apology delivered correctly has the power to cut away years of damage and wipe the slate clean for your relationship thus far. This is powerful for you to know and something you can apply to your everyday relationships as well. Plan your apology, understand why you are apologizing and talk of feelings instead of blame or why it happened. Be sincere and come from a place of pure love and honesty.
The Magic of Making Up comes packaged with a bonus guide on how to give a ‘miracle’ apology. This is really amazing, as the technique you learn here can apply to all disputes or arguments, whether it is with your friends or family. Jackson uses great examples that are clear cut and easy to follow.
You’ll know how to give an apology that works ALMOST 100% of the time! Find out more.
Indeed, life is short. Don’t let another day go by without taking a chance on happiness. You will never know until you try, so remember to make a move today. It can change or affect the rest of your life, therefore, at the very least, you can try to come out something for your ex love partner during your weekend plans. With a little practice, perseverance and patience, I believe that your relationship could be enhanced with the tips that I have shared earlier. If you have faced any problems with your loved ones, do not hesitate to visit this piece of article again. I really have a strong belief that if you can understand what I have explained and applied what you have learnt from this piece of article, your problems can be eventually solved and your making up relationship can become more stable and stronger. I wish all the best for your making up relationship with your partner. Do always remember to spread word of mouth to your fellow friends for supporting the decision of having making up than breaking up.
Looking for the magic of making up? Maybe your situation is not covered in this article?
Watch a video that shows you exactly what you must NEVER do, what you should do to get your ex back and why at http://www.squidoo.com/how_can_i_retrieve_my_ex_lover_back
You will also learn how to reverse the situation if you have already done those things that should NEVER be done.
Ermelinda Emo
My Ex and I have the mutual trust issues to prepare for a making up relationship in the coming months
I understand that it is not easy to maintain a relationship. What are the raw ingredients to build a relationship? They are trust, faith, honesty, confidence, rapport. Some of us may or may not have these components; nevertheless, we can learn all these through the experiences. If some have fully established a firm and solid relationship, then probably we can build up those components that we have not gained. What I will like to describe in the later part of this article is trust. Let’s take trust as an example.
The most common reason relationships end is due to a lack of trust. A relationship built up of accumulated lies, no matter how small will eventually weigh the relationship down and into a black hole. Each new lie manifests the next one and sooner or later, you will be jumping to conclusions and filling your head with imagined scenarios of what they’re trying to cover up for. This will be insulting to your partner and a lot of reasons why they would leave.
Regaining trust takes time and a lot of it comes down to your personal insecurities. If you are not 100% sure your ex is lying, why do you consider the worst case scenario first? The more you focus attention on something you ‘fear’, the more real it will become. Our imaginations can be powerful and the images we choose to see very vivid and real. If you know you have the power to change what you think, choose to consider other alternatives and weight them up equally.
If your ex has lied in the past but only in the past, you need to be careful you don’t falsely accuse them based on that incentive alone. Evaluate your present knowledge of the situation and once again weigh up the different possibilities. If you give your partner the benefit of the doubt, this is a better way to reinforce keeping honest than if you always accuse and assume the worst. On the other hand if you did a deed that disrupted your partner’s trust in you, you need to do something important and that is to be completely 100% honest with yourself first. The reasons for lying can range from the very tiny white lie to something large like cheating. Each situation will be different and weighed upon differently in your partner’s eyes, so gauge how large of a damage has been dealt. The size of the damage will be related to how long it will take to regain trust back.
One thing that is in your favour is that whatever mistake you have made. A good apology can work almost like a miracle. An apology delivered correctly has the power to cut away years of damage and wipe the slate clean for your relationship thus far. This is powerful for you to know and something you can apply to your everyday relationships as well. Plan your apology, understand why you are apologizing and talk of feelings instead of blame or why it happened. Be sincere and come from a place of pure love and honesty.
The Magic of Making Up comes packaged with a bonus guide on how to give a ‘miracle’ apology. This is really amazing, as the technique you learn here can apply to all disputes or arguments, whether it is with your friends or family. Jackson uses great examples that are clear cut and easy to follow.
You’ll know how to give an apology that works ALMOST 100% of the time! Find out more.
Indeed, life is short. Don’t let another day go by without taking a chance on happiness. You will never know until you try, so remember to make a move today. It can change or affect the rest of your life, therefore, at the very least, you can try to come out something for your ex love partner during your weekend plans. With a little practice, perseverance and patience, I believe that your relationship could be enhanced with the tips that I have shared earlier. If you have faced any problems with your loved ones, do not hesitate to visit this piece of article again. I really have a strong belief that if you can understand what I have explained and applied what you have learnt from this piece of article, your problems can be eventually solved and your making up relationship can become more stable and stronger. I wish all the best for your making up relationship with your partner. Do always remember to spread word of mouth to your fellow friends for supporting the decision of having making up than breaking up.
Looking for the magic of making up? Maybe your situation is not covered in this article?
Watch a video that shows you exactly what you must NEVER do, what you should do to get your ex back and why at http://www.squidoo.com/how_can_i_retrieve_my_ex_lover_back
You will also learn how to reverse the situation if you have already done those things that should NEVER be done.
Ermelinda Emo
nadia cherubin asked:
When dealing with relationships and trust, how are you really going to make it when your loved one is in the way of what you have to do, when that person constantly smothers you as a closing gate. Remember: Your wings cannot be spread as far, so therefore, you could never soar, which only complicates things and preventing you to go far.
With trust, your partnerer is like the wind underneath your wings and with no trust, your partner is like rain taking the oil away from your wings with insecurity and your partner becomes like salt in your wings. meaning: you can’t fly.
Have you ever gotten involved with someone who has no trust whatsoever, and can’t seem to trust you because they’re so inecure and want to accuse you of messing around when you know you’re not. Don’t you **** that? I know I do because in all actuality, if a person you’re with is always accusing you of cheating, 9 out of 10 times, they’re doing dirt and accusing you by making you feel low about yourself when they really feel guilty so they want to put the guilt trip on you. Meaning: they’re really examining themselves.
Always remember this: whenever someone believes that others cannot be trusted, it’s because they don’t believe in themselves that they could be trusted. but like the saying goes and a person quoted:If I can’t be trusted, what makes you think that I can trust you?
Although, communication is good and it’s way better than acting up because you have to try to work things out and communicate with one another because that is the key to trust in a relationship, plain and simple because if you can’t trust the person you’re with, there is no need because it’s only going to cause conflict and sometimes when people get involved in a relationship and not resepcting the person’s privacy and not giving you the time to miss you or each other and not giving each other space.
Now, if you say that you trust someone, you shouldn’t act like you don’t.
With trust: You should always answer questions truthfully when asked a question.
With flirting: a little harmless flirting doesn’t hurt.
Note: just because you look at the menu, it doesn’t mean that you should order from it.
Now, some say that trust is overrated and you should always acknowledge the one that you’re with and when dealing with trust, you should always respect the unexpected.
However, your relationship should be very vibrant with a lot of love.
With trust & Homelife: You should be able to be trusted enough in order to take care of home and family. Now, some say that trust is basically all about you, but can’t help who you really are. Although, it doesn’t matter who it is, either you trust, or you don’t.
A person has told me that as an example, when it comes to trust, A thief is after your salary and a liar is after your reality and pain is pleasure and pleasure bust pipes, and you cannot be judgemental and be careful of the words that you speak, Because you will eat them and that’s afact!
When it comes to relationships and trust: Will you be able to trust the person you’re with or will you contantly accuse them of infideleity!
Nichol Malec
When dealing with relationships and trust, how are you really going to make it when your loved one is in the way of what you have to do, when that person constantly smothers you as a closing gate. Remember: Your wings cannot be spread as far, so therefore, you could never soar, which only complicates things and preventing you to go far.
With trust, your partnerer is like the wind underneath your wings and with no trust, your partner is like rain taking the oil away from your wings with insecurity and your partner becomes like salt in your wings. meaning: you can’t fly.
Have you ever gotten involved with someone who has no trust whatsoever, and can’t seem to trust you because they’re so inecure and want to accuse you of messing around when you know you’re not. Don’t you **** that? I know I do because in all actuality, if a person you’re with is always accusing you of cheating, 9 out of 10 times, they’re doing dirt and accusing you by making you feel low about yourself when they really feel guilty so they want to put the guilt trip on you. Meaning: they’re really examining themselves.
Always remember this: whenever someone believes that others cannot be trusted, it’s because they don’t believe in themselves that they could be trusted. but like the saying goes and a person quoted:If I can’t be trusted, what makes you think that I can trust you?
Although, communication is good and it’s way better than acting up because you have to try to work things out and communicate with one another because that is the key to trust in a relationship, plain and simple because if you can’t trust the person you’re with, there is no need because it’s only going to cause conflict and sometimes when people get involved in a relationship and not resepcting the person’s privacy and not giving you the time to miss you or each other and not giving each other space.
Now, if you say that you trust someone, you shouldn’t act like you don’t.
With trust: You should always answer questions truthfully when asked a question.
With flirting: a little harmless flirting doesn’t hurt.
Note: just because you look at the menu, it doesn’t mean that you should order from it.
Now, some say that trust is overrated and you should always acknowledge the one that you’re with and when dealing with trust, you should always respect the unexpected.
However, your relationship should be very vibrant with a lot of love.
With trust & Homelife: You should be able to be trusted enough in order to take care of home and family. Now, some say that trust is basically all about you, but can’t help who you really are. Although, it doesn’t matter who it is, either you trust, or you don’t.
A person has told me that as an example, when it comes to trust, A thief is after your salary and a liar is after your reality and pain is pleasure and pleasure bust pipes, and you cannot be judgemental and be careful of the words that you speak, Because you will eat them and that’s afact!
When it comes to relationships and trust: Will you be able to trust the person you’re with or will you contantly accuse them of infideleity!
Nichol Malec
karen grahams asked:
Trust is the lifeblood of a strong company. People need to have trust in them if they’re going to remain loyal, and trust can be the best way to get a very strong, consistent customer base.
But what exactly is that trust, and how do you go about getting it? Trust comes in a number of different forms.
Wal-Mart is trusted because of the low prices they offer. People trust that when they go into the store they’ll get a good deal. Hy-Vee makes themselves known for their friendly services. Their tagline focuses on the fact that they’re a family run company. Best Buy uses its knowledge of the industry to gain trust. Technology can be complicated, but if you go to them, they’ll have people ready to explain anything you need.
Each one has focused on a different area to gain trust in, and if you want your company to develop that same strong level of trust, you’re going to need to do the same.
This becomes particularly important when it comes to the way you advertise yourself. The first thing you need to do is decide what your focus is going to be. Is this about good prices, great services, excellent knowledge, or something else? Every penny you spend on color printing and advertising needs to have this focus.
And the type of focus will dictate what kind of advertisements you’ll want to get done. Low prices work best with short forms like postcards, flyers, posters, and so on, while a more in-depth knowledge of the field will need brochures to get all that information to people.
But of course, if you really want people to trust you, than you need to go beyond just saying it in your advertisements. Take the previous example of Hy-Vee. They not only emphasize the family owned aspect in their advertising, but if you go into the store the employees are dressed in nicer attire than you would expect at a grocery store. In fact, I usually first think I’m looking at a manager given the way the person is dressed, but this is simply how all of them dress, which gives the image of equal importance among their employees, which further pushes the idea of strong employees.
Walk into a Wal-Mart and you’ll see signs everywhere proclaiming low prices, or go into a Best Buy and you’ll see information centers everywhere and people standing around waiting to answer your questions.
You need to embrace your focus point with just as much enthusiasm if you want people to come to trust you truly are what you say you are. Your advertising, your color printing, your building, your employees, your everything needs to be imbued with your message, and only then will you start to see people come to trust you.
For comments and inquiries about the article visit Color Printing
Amos Probert
Trust is the lifeblood of a strong company. People need to have trust in them if they’re going to remain loyal, and trust can be the best way to get a very strong, consistent customer base.
But what exactly is that trust, and how do you go about getting it? Trust comes in a number of different forms.
Wal-Mart is trusted because of the low prices they offer. People trust that when they go into the store they’ll get a good deal. Hy-Vee makes themselves known for their friendly services. Their tagline focuses on the fact that they’re a family run company. Best Buy uses its knowledge of the industry to gain trust. Technology can be complicated, but if you go to them, they’ll have people ready to explain anything you need.
Each one has focused on a different area to gain trust in, and if you want your company to develop that same strong level of trust, you’re going to need to do the same.
This becomes particularly important when it comes to the way you advertise yourself. The first thing you need to do is decide what your focus is going to be. Is this about good prices, great services, excellent knowledge, or something else? Every penny you spend on color printing and advertising needs to have this focus.
And the type of focus will dictate what kind of advertisements you’ll want to get done. Low prices work best with short forms like postcards, flyers, posters, and so on, while a more in-depth knowledge of the field will need brochures to get all that information to people.
But of course, if you really want people to trust you, than you need to go beyond just saying it in your advertisements. Take the previous example of Hy-Vee. They not only emphasize the family owned aspect in their advertising, but if you go into the store the employees are dressed in nicer attire than you would expect at a grocery store. In fact, I usually first think I’m looking at a manager given the way the person is dressed, but this is simply how all of them dress, which gives the image of equal importance among their employees, which further pushes the idea of strong employees.
Walk into a Wal-Mart and you’ll see signs everywhere proclaiming low prices, or go into a Best Buy and you’ll see information centers everywhere and people standing around waiting to answer your questions.
You need to embrace your focus point with just as much enthusiasm if you want people to come to trust you truly are what you say you are. Your advertising, your color printing, your building, your employees, your everything needs to be imbued with your message, and only then will you start to see people come to trust you.
For comments and inquiries about the article visit Color Printing
Amos Probert
Catherine Harvey asked:
Taking out a life insurance policy shows consideration and love to your nearest and dearest. It means you have the peace of mind that comes with knowing that, as much as possible, life for them will go on without added financial burden.
However, many people are making the mistake of not writing these life insurance policies in trust. This means that any life insurance payouts will be added to the inheritance of your family and could take them above the nil rate band for inheritance tax.
If a life insurance policy is written in trust this will enable the sum to be excluded from the overall estate of the policy holder, freeing it from inheritance tax liability. It also has the ability to speed up payouts, whether or not it would be liable for the extortionate tax.
Recent changes in the law mean that assets worth 300,000 pounds for individuals and 600,000 pounds for couples are the limit before any tax liabilities. Any assets over that amount would be subject to inheritance tax at a rate of 40%.
The latest figures to be released show that over the course of one year, 11,000 insurance policies worth a total of 597 pounds million were subject to inheritance tax. Had all these policies been written in trust, you can be quite sure that inheritance tax would not have been applicable on any of them.
Will reading and distribution of assets can be a notoriously lengthy procedure. This can be put a huge financial strain on the family. With life insurance policies that are written in trust would be paid out immediately, making things a whole lot easier.
Not putting life insurance policies in trust is costing customers millions of pounds every year in unnecessary inheritance tax. Apparently, only 10% of people write their life insurance in trust. Even if you already have a life insurance policy in place, it is possible to easily put it in trust.
Whether you purchase your life insurance over the net, over the phone or through a shop, they should all come with the chance of writing in trust. It seems odd that so few people take up this opportunity. Maybe it is a case of not getting the right advice?
Life insurance comparison websites abound but there is concern that they are not serving the customer well. It has been found that many people will take out the cheapest life insurance but this doesn’t necessarily mean that is the one that is most suitable to their circumstances.
The British Insurance Brokers Association have called for the Financial Services Authority to overhaul regulations regarding these insurance comparison sites. They believe that when people check out these sites, they barely take notice of the policy details, just the price. They even take this price comparison as ‘advice’. This is a good case of cheapest not always meaning best.
Whatever happened to people taking responsibility for themselves? Surely, if they take out a policy without concerning themselves with the details, they are throwing their money away. Many people take out a life insurance policy with their mortgage as is necessary but instead of shopping around will go with the mortgage providers own insurance simply because it is easier.
Take control, by all means shop around to get the best life insurance deal, but don’t take one purely on the cost of the policy because it may not help very much right at the time when it is most needed.
Lanette Joa
Taking out a life insurance policy shows consideration and love to your nearest and dearest. It means you have the peace of mind that comes with knowing that, as much as possible, life for them will go on without added financial burden.
However, many people are making the mistake of not writing these life insurance policies in trust. This means that any life insurance payouts will be added to the inheritance of your family and could take them above the nil rate band for inheritance tax.
If a life insurance policy is written in trust this will enable the sum to be excluded from the overall estate of the policy holder, freeing it from inheritance tax liability. It also has the ability to speed up payouts, whether or not it would be liable for the extortionate tax.
Recent changes in the law mean that assets worth 300,000 pounds for individuals and 600,000 pounds for couples are the limit before any tax liabilities. Any assets over that amount would be subject to inheritance tax at a rate of 40%.
The latest figures to be released show that over the course of one year, 11,000 insurance policies worth a total of 597 pounds million were subject to inheritance tax. Had all these policies been written in trust, you can be quite sure that inheritance tax would not have been applicable on any of them.
Will reading and distribution of assets can be a notoriously lengthy procedure. This can be put a huge financial strain on the family. With life insurance policies that are written in trust would be paid out immediately, making things a whole lot easier.
Not putting life insurance policies in trust is costing customers millions of pounds every year in unnecessary inheritance tax. Apparently, only 10% of people write their life insurance in trust. Even if you already have a life insurance policy in place, it is possible to easily put it in trust.
Whether you purchase your life insurance over the net, over the phone or through a shop, they should all come with the chance of writing in trust. It seems odd that so few people take up this opportunity. Maybe it is a case of not getting the right advice?
Life insurance comparison websites abound but there is concern that they are not serving the customer well. It has been found that many people will take out the cheapest life insurance but this doesn’t necessarily mean that is the one that is most suitable to their circumstances.
The British Insurance Brokers Association have called for the Financial Services Authority to overhaul regulations regarding these insurance comparison sites. They believe that when people check out these sites, they barely take notice of the policy details, just the price. They even take this price comparison as ‘advice’. This is a good case of cheapest not always meaning best.
Whatever happened to people taking responsibility for themselves? Surely, if they take out a policy without concerning themselves with the details, they are throwing their money away. Many people take out a life insurance policy with their mortgage as is necessary but instead of shopping around will go with the mortgage providers own insurance simply because it is easier.
Take control, by all means shop around to get the best life insurance deal, but don’t take one purely on the cost of the policy because it may not help very much right at the time when it is most needed.
Lanette Joa
Dana Fortier asked:
Know your mission. Companies have mission statements and it is important to know the mission statement for your family. My husband and I decided many years ago that there were certain values that we felt were important to instill in our children. It was important that they grew up happy and secure. We wanted them to know they were loved. We wanted them to value people, and to know the value of hard work. We jokingly referred to our desire for them to be polite and well-mannered, as making them good little citizens. This was our way of saying that they would be contributing members to society. So our mission statement was: We will make sure they are good people.
Make sure all the members of your family (the work force) know they are appreciated and important. This is important in all organizations. Members need to know that they are contributing and their contribution is valued. You should acknowledge them as important to the family’s success and happiness.
Have good support systems in place. In any business, it is necessary to have consultants, suppliers and assistants, and know when and where to go for outside advice and help. In a family, your support system consists of physicians, teachers, coaches, and all the other people you and your family interact with on a regular basis. Make sure they are doing the job they should, i.e., that they add value to the organization.
Organization is key. A well-run family life is like a well-run business. You must have good organizational systems in place. You need to know where people need to be, at what time, and how they will accomplish their goals.
An atmosphere of trust and safety is necessary in any organization that wants to achieve positive results. Your children and the parent or parents need to know that there is honesty and integrity throughout the family.
Any organization requires rules, and consequences for failure to follow the rules should be consistent and fair. Guidelines and expectations need to be clear, and good/successful behavior should be expected and rewarded. Respect for all members of the organization is important and non-negotiable. If there are problems, a good parent/manager needs to intervene and help those involved, work it out in a calm and logical manner.
Education should be valued. Any organization should encourage growth and learning, and will accordingly benefit from all members understanding the value of education. The members will likewise benefit from learning to help themselves and others.
The family, like any organization, needs to meet often to discuss concerns and challenges. This can often be done over dinner, which incidentally is an excellent time to bond and learn what each member (division) is working on. Sharing what the divisions are working on helps the members to get to know each other and can lead to communication that can be supportive and helpful.
Good health is another key and the prescription is no secret: good nutrition, exercise, proper amounts of sleep, and not too much junk food. Just as sloppy habits lead to underperformance, strong health habits lead to strong performance.
Perhaps most importantly, a family must have time to relax and enjoy each other’s company. Just as companies plan outings or parties, a family needs to plan time together as a unit. Vacations or outings can help members find ways of bonding, sharing and building a common legacy.
Mission accomplished!
Laurie
Know your mission. Companies have mission statements and it is important to know the mission statement for your family. My husband and I decided many years ago that there were certain values that we felt were important to instill in our children. It was important that they grew up happy and secure. We wanted them to know they were loved. We wanted them to value people, and to know the value of hard work. We jokingly referred to our desire for them to be polite and well-mannered, as making them good little citizens. This was our way of saying that they would be contributing members to society. So our mission statement was: We will make sure they are good people.
Make sure all the members of your family (the work force) know they are appreciated and important. This is important in all organizations. Members need to know that they are contributing and their contribution is valued. You should acknowledge them as important to the family’s success and happiness.
Have good support systems in place. In any business, it is necessary to have consultants, suppliers and assistants, and know when and where to go for outside advice and help. In a family, your support system consists of physicians, teachers, coaches, and all the other people you and your family interact with on a regular basis. Make sure they are doing the job they should, i.e., that they add value to the organization.
Organization is key. A well-run family life is like a well-run business. You must have good organizational systems in place. You need to know where people need to be, at what time, and how they will accomplish their goals.
An atmosphere of trust and safety is necessary in any organization that wants to achieve positive results. Your children and the parent or parents need to know that there is honesty and integrity throughout the family.
Any organization requires rules, and consequences for failure to follow the rules should be consistent and fair. Guidelines and expectations need to be clear, and good/successful behavior should be expected and rewarded. Respect for all members of the organization is important and non-negotiable. If there are problems, a good parent/manager needs to intervene and help those involved, work it out in a calm and logical manner.
Education should be valued. Any organization should encourage growth and learning, and will accordingly benefit from all members understanding the value of education. The members will likewise benefit from learning to help themselves and others.
The family, like any organization, needs to meet often to discuss concerns and challenges. This can often be done over dinner, which incidentally is an excellent time to bond and learn what each member (division) is working on. Sharing what the divisions are working on helps the members to get to know each other and can lead to communication that can be supportive and helpful.
Good health is another key and the prescription is no secret: good nutrition, exercise, proper amounts of sleep, and not too much junk food. Just as sloppy habits lead to underperformance, strong health habits lead to strong performance.
Perhaps most importantly, a family must have time to relax and enjoy each other’s company. Just as companies plan outings or parties, a family needs to plan time together as a unit. Vacations or outings can help members find ways of bonding, sharing and building a common legacy.
Mission accomplished!
Laurie
Marilyn Barnicke Belleghem M.Ed. asked:
Many people dream of running their own business. Sometimes new graduates want to dive right into their own operation. This is especially true in many of the professions.
In a time of downsizing and cutbacks, using the skills from previous employment in a business of one’s own, is also an option. Seminars, books and franchise companies offer advice. Many turn to a lawyer, accountant and bank manager for assistance.
Once a business includes two members of the same family, it is considered a family in business. With a growing number of home based businesses, the involvement of a parent, spouse, child or other relative, can be a practical and economical choice.
Families in business have many advantages. These can include tax benefits, personal trust factors, common goals, familiarity and established patterns of working together. There can also be many pitfalls. These include:
• the inability to separate the business from personal time,
• the roles played in the business may not carry over and be best for well functioning family life,
• conflicts from family life spreading into the business environment, can cause business disruption,
• different levels of commitment and energy can result in jealousy,
• unresolved power and control issues can undermine profit levels.
Keeping healthy family relationships and maintaining a prosperous business requires balance that require both skill and determination. Communicating well, managing stress, resolving conflicts and making wise decisions, are all necessary.
Professionals consulting to families in business, must recognize the impact of the family on the business and the business on the family. Awareness of the dynamics that are unique to this type of arrangement can assist both the client and the professional to create healthy families in prosperous businesses.
Lona Bringard
Many people dream of running their own business. Sometimes new graduates want to dive right into their own operation. This is especially true in many of the professions.
In a time of downsizing and cutbacks, using the skills from previous employment in a business of one’s own, is also an option. Seminars, books and franchise companies offer advice. Many turn to a lawyer, accountant and bank manager for assistance.
Once a business includes two members of the same family, it is considered a family in business. With a growing number of home based businesses, the involvement of a parent, spouse, child or other relative, can be a practical and economical choice.
Families in business have many advantages. These can include tax benefits, personal trust factors, common goals, familiarity and established patterns of working together. There can also be many pitfalls. These include:
• the inability to separate the business from personal time,
• the roles played in the business may not carry over and be best for well functioning family life,
• conflicts from family life spreading into the business environment, can cause business disruption,
• different levels of commitment and energy can result in jealousy,
• unresolved power and control issues can undermine profit levels.
Keeping healthy family relationships and maintaining a prosperous business requires balance that require both skill and determination. Communicating well, managing stress, resolving conflicts and making wise decisions, are all necessary.
Professionals consulting to families in business, must recognize the impact of the family on the business and the business on the family. Awareness of the dynamics that are unique to this type of arrangement can assist both the client and the professional to create healthy families in prosperous businesses.
Lona Bringard