Don’t leave making a Will too late

Making a will is one of the tasks that people tend to put off most. Also, it’s one of the main reasons why millions of dollars worth of assets left by loved ones don’t end up in the right hands. Don’t leave making a Will too late.

None of us like to talk about death and I can understand why. However, failing to make a Will can leave those left behind with significant problems and stress. Extra stress not needed at what is already a tough time.

You have spent a lifetime working hard to accrue wealth and property. Surely you want to have a say in who receives what when you die?

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Financial Planning for Children or Adults with Special Needs

Planning to meet the needs of children or adults who have special needs is often complex. Special financial planning techniques may be needed so you don’t jeopardize any government benefits they may be receiving. Many who have special needs require advice and protection throughout their lifetime from someone with legal authority. This person has the authority to act on their behalf. For most persons with special needs two types of protections are required:

1. protection of the estate left to the individual;
2. protection of his or her person in some form of guardianship.

In practice, provisions for these two types of protection often overlap.

Why should families plan?
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Can I buy life insurance on someone else? Or here is the one that really scares people. Can someone else buy life insurance on me and then collect the money if I die? I hear people asking these questions all the time and wanted to address both issues.

Can I buy life insurance for someone else?

The simple answer is, “yes”. You are allowed to pay the premiums and collect the benefits on a life insurance policy that insures a life that is not your own. For example, many people have life insurance on their children. Another example is that companies sometimes buy life insurance on their key employees so that they can recover from the negative financial effect that losing that employee might cause.

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