Articles on Estate Planning

Rating Agency Moves Reflect Tough Times

by: JIM CONNOLLY Published 2/19/2009 Ratings downgrades and negative ratings agency reports are piling up. During the first half of February, ratings agencies announced reviews and actions concerning many major insurers. Here is a sampling of some of them:

Organizing Your Affairs

Preparing and discussing the distribution of your estate is not easy. However, one of the best things you can do for your family is to have proper estate planning documents in place to help ensure the process will be handled according to your wishes. Establishing and maintaining a list that identifies key information for your survivors or the executor of your estate can significantly simplify and expedite an otherwise likely cumbersome and bewildering process. The following checklist will help you organize needed information in an easily accessible location ( i.e. 3 ring binder with dividers) for your survivors.

Process Overview for Implementing a Life Insurance Irrevocable Trust

Going forward to implementing a life insurance irrevocable trust (ILIT) the following steps take place: Our application that both you and your wife will sign will be for underwriting purposes only to determine the rate for you both based on current and past health. The ultimate applicant will be the Irrevocable Trust that you need to create with your attorney based on the sample language that I gave you. You should have two trustees: a) a corporate trustee (like, your CPA or your attorney) and one of your children that you pick. The will sign the subsequent application as owner Continue Reading…