Life can bring some major changes to each of us at some point: marriage, divorce, birth of a child or death of a loved one. Although we may not be able to do much to prevent change we can definitely do a lot in an effort to plan for the outcome that inevitably follows. When considering how to best protect your family, there are a variety of options. Perhaps the most “popular” planning device is the Revocable Living Trust, but Life Insurance is a great tool as well and can be used in conjunction with your trust based plan.
Holding assets in trust can provide a multitude of benefits, including creditor protection and control form beyond the grave. However, some assets you pass on may carry expenses that your loved one’s cannot afford to pay. For instance, you may own a business that will require overhead expenses to continue functioning until it is sold or you may leave a home that has an unpaid mortgage. The trust is a great device for protecting your assets and avoiding probate but Life Insurance can be used to pay for these additional expenses or even replace income.
When considering the best way to protect yourself and your family, don’t limit your options. Call (954)944-2855 for your free consultation today.
For more information on Estate Planning, Asset Protection and Probate visit our website at www.wfplaw.com.
It’s A Wild World. Are You Protected? SM