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Nothing contained on this Website constitutes tax, accounting, regulatory, legal, insurance or investment advice. Neither the information, nor any opinion, contained on this Website constitutes a solicitation or offer by The Wealth Planning Center or its affiliates to buy or sell any securities, futures, options or other financial instruments, nor shall any such security be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. Decisions based on information contained on this Website are the sole responsibility of the visitor. In exchange for using this Website, the visitor agrees to indemnify and hold The Wealth Planning Center, its officers, directors, authors, consultants, employees, affiliates, agents, licensors and suppliers harmless against any and all claims, losses, liability, costs and expenses (including but not limited to attorneys' fees) arising from your use of this Website, from your violation of these Terms or from any decisions that the visitor makes based on such information.

The investments and strategies discussed in the Website may not be suitable for all investors and are not obligations of The Wealth Planning Center or its affiliates or guaranteed by The Wealth Planning Center or its affiliates, consultants and employees.

The Wealth Planning Center makes no representations that the contents are appropriate for use in all locations, or that the information transactions, securities, products, instruments, or services discussed on this site are available or appropriate for sale or use in all jurisdictions or countries, or by all investors or counterparties. By making available the information on the Website, The Wealth Planning Center does not represent that any investment vehicle or advice is better or worse, available or suitable for any particular user. All persons and entities accessing the Web Site do so on their own initiative and are responsible for compliance with applicable local laws and regulations. Fixed, Indexed and certain other Annuity products are contracts and require you to complete your due diligence like any other retirement or investment product before you purchase for your portfolio or goals.

All investments involve risk and may lose value. The value of your investment can go down depending upon market conditions. Self directed I.R.A. investments are subject to certain prohibited transactions and regulations under I.R.S. rules. Fixed income investments are subject to risk including interest rate, credit, market and issuer risk. Currency exchange rates may cause the value of an investment to go up or down. Alternative strategies involve higher risks than traditional investments, may not be tax efficient, and have higher fees than traditional investments; they may also be highly leveraged and engage in speculative investment techniques, which can magnify the potential for investment loss or gain. 2017 Online Insurance Network 

Advanced Planning

Advanced planning encompasses retirement, financial and estate planning. our goal here as your financial advisor is to not only provide help with growing your assets but providing a way to lessen the taxable burden or offer ways to allow you a solution to passing it on towards your favorite causes and next generations. so you have an idea of how much income you can generate and how long that might last for those who you may pass it on to. 

Basic estate planning is the foundation for a person’s personal future. The basic estate plan includes incapacity planning documents (living will, durable power of attorney for health care and durable power of attorney for finances), last will and testament and in most cases, a revocable living trust. In situations where there a client requires a revocable trust in their planning, a deed is also prepared to deed the primary residence into the revocable trust. These five documents are considered fundamental. Planning beyond these fundamentals is considered advanced estate planning. In addition to the basic estate plan, individuals with children should arrange for their minor children’s guardians in the event of incapacity and/or death.

It is important to emphasize that advanced planning should only be undertaken by experienced estate planning professionals as the documents involved are very complex and can easily be prepared improperly. Advanced estate planning typically involves estate tax reduction, Medicaid planning and/or special needs trust planning.

When achieving estate tax reduction, vehicles such as the irrevocable life insurance trust, irrevocable trusts, the qualified personal residence trusts and the defective grantor trusts are typically used. In general, these trusts are used to remove assets from a person’s estate when the individual’s estate is near the five million dollar federal exemption limit (in Florida). Married individuals have a ten million dollar combined federal exemption limit. When one spouse uses the other spouse’s exemption limit, they are taking advantage of “portability.” The revocable living trust (which is described above as a basic estate planning tool) is used to carry over, or “port” the decedent spouse’s unused exemption.

Medicaid and special needs planning involves setting up a supplemental (or special) needs trust for the grantor/beneficiary. This trust allows the grantor/beneficiary to take advantage of governmental benefits without losing the ability to support themselves with other certain non-necessities such as haircuts, spa days, etc.

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