Addendum (2/27/12): Here are a few bits of info, or ideas, I picked up at the Estate Planning Seminar from below.
1. Have you remembered to include your favorite school, church, or charity as an additional beneficiary on your life insurance? You can leave them a set amount, or a percentage. Like your family, you can still support them after your passing.
2. Did you know you can add a "preamble" to the beginning of your will to be read to those who attend the reading? It's a way to make a final state of love to your family, an expression of your faith, or give final instructions.
3. Five documents you should complete before you become sick or disabled, or pass away.
a. Your Will
b. A Will with a Revocable Living Trust - helps avoid probate and the trust allows you to leave instructions on how to support your family, school, or church.
c. Durable Power of Attorney for Financial Matters
d. Power of Attorney for Health Care / Advanced Directive
e. HIPAA Release - Designates someone to control your medical info & records if you cannot. Dr's and hospitals are more and more hesitant to give out medical info in fear of violating HIPAA guidelines.
As always, consult with a legal professional on how to complete these steps if interested. This article is in no ways is a complete guide on all the consideration you need to take in matters of estate planning.
Originally Published 2/24/12
Ever wanted to support your favorite church or charity to a greater extent than you already are?
Do you want your good works to live beyond your years?
How about tax benefits for doing the right thing?
Want advice so you do it right?
My church is holding a free Estate Planning Seminar open to the community. While it uses Christian based teachings as it's foundation, the tax and financial based rules apply to any family or charitable situation, just a different beneficiary.
What: Christian Estate Planning Seminar
When: Sunday, February 26, 2012, 9:15am - 10:15amWho: Rev. Rich Kogler, WELS Ministry of Planned Giving Counselor, will be leading this Christian estate planning seminar in between our usual services.
Why: If you always wondered about such things, and would like to be more informed, attend and get some questions answered. Everyone's welcome. All ages would benefit from this seminar.
Where: Risen Savior Lutheran Church, 625 Otay Lakes Rd., Chula Vista, Ca 91913
(click HERE for facebook page)
Questions: Call Kevin Tuckey, 619-200-6210
The time to think about such issues is earlier than most assume. You plan before you become a senior so all the plans are in place.
Hope to see you there.
~Kevin
Some of my other related blogs
Charitable Giving with Life Insurance
Celebrity Deaths Remind Us of the Need for Estate and Legal Planning
The greatest need: Single Parents
Families with Special Needs Children
Life Insurance is Income Protection
British Royal Marine spends a message with his life insurance
Advanced LUTCF Training for Platinum Elite Team Members
Life Insurance Awareness Month
The Romance-O-Meter: Insure Your Love
* The content of this blog is for informative purposes only. It does not reflect official standing of any agent, agency, or company mentioned on the blog. Nor is this blog necessarily an endorsement. Please consult with your insurance, tax, or legal specialist before making any decisions. This blog is purely meant to spark the thought process.
