When it comes to retirement, everyone can use all the help that they can get and so finding a retirement and estate planning advisor is going to be a great benefit to you. Not only will a retirement and estate planning advisor be able to take a lot of the anxiety out of retirement but will also allow you to focus more on the task at hand.

They are professionals in the field of retirement and so they are informed and knowledgeable and able to help you along the entire way and answer any questions that you may have. They will be able to help you with any issues that you may be struggling with in terms of your future retirement, such as what sort of pension you have, whether you have paid enough in contributions, whether you are going to be able to maintain your same lifestyle after retirement, and so on.

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Estate planning retirement helps you to preserve your wealth for you and your heirs. Estate planning retirement will allow you to leave an inheritance to your loved ones that will let them know your exact wishes and gives them some kind of legacy to remember you by. Without estate planning retirement, you would not be able to do that and you may leave your loved ones with unpaid estate taxes, legal issues and other financial burdens. Creating an estate planning retirement will allow your loved ones to pay minimal taxes and prevent your assets from going to the government.

Many people put off making an estate planning retirement plan because they may think it is too time consuming or too difficult. It certainly will take a little time and effort, but it will be worth it in the long run. Once you get started, it will be easy. You must put together your assets and liabilities. Gather relevant documents and inventory of belongings.

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By Kelly Howe

Millions of people work hard all their lives. They support their families and have a very comfortable life. If the unfortunate happens, and you become ill or unable to make financial decisions for yourself, a living trust may be an option worth investigating.

There is a lot of confusion of what a living trust is. Despite what some people believe, a living trust and a living will are two separate but legal documents that are binding in any court. A living trust can protect your assets should you be unable to make decisions for yourself. It is important to understand that you cannot use a living trust for illegal purposes.

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In the Canadian federal Budget of 2007 (March 19, 2007) .. was a proposal to increase the conversion age for RPP’s and RRSP’s to 71 years of age from 69 years of age. Transitional measures will benefit individuals who turn 69, 70, and 71 in 2007.

Previously, at the end of your 69th year all retirement accounts are converted to RRIF accounts and must be withdrawn over time into income starting with your 70th year.

See more.. from the Highlights from federal Budget 2007

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Private Annuity Trusts - Supercharge Your Retirement

By Paula Straub

You have made some great investments in Real Estate or in a Stock Portfolio. Congratulations! Now you are ready to retire on your gains. But wait. To benefit from your investment appreciation, you’re going to have to sell some or all of those assets.

If you sell your investment property, you will need to pay capital gains tax to the Federal Government, State, and you will also pay recaptured depreciation. If you’re in California, add another 3 1/3% in withholding. That’s a huge chunk of change, and a big blow to your savings.

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Inheritance Entitlement

By Nola Redd

Two articles published in USA Today several months ago have inspired me to think a great deal about death and inheritances.The first article noted the generosity of Howard Hughes in donating the majority of his estate to the Bill and Melinda Gates foundation after his death. It went on to discuss the growing trend of the rich to leave much of their estate to charity, rather than pass it on to their children. Most of the children in the article - possibly all of them - discussed the trend in a positive manner; I don’t recall anyone other than the author bemoaning their loss. The second article focused on one family, whose patriarch was dying of cancer and using most of his savings on medical bills. Although his children repeatedly stated that they would rather have hope for their father than an inheritance (one significantly smaller than the Hughes children would someday receive), the father worried about what he would leave to his children.

I found the tone of both articles disturbing. The implication was that parents should build up their fortunes primarily for their children. The entitlement factor that pervades America has now become funeral fodder. I wonder about the interviews you would never get - the decision to put an elderly parent in a state-funded home to preserve the inheritance for their grown children. I wonder why we are beginning to believe that we are entitled to something that someone else has worked hard for. If I were to visit Mr. Hughes and inform him that I deserve his money simply because I am alive, he and most of the rest of the nation would laugh at my daring and dismiss me. Why, then, is it deemed acceptable for us to believe we are entitled to what our parents have worked for?

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An Estate Planning Primer

By Bill Willard

An estate plan can be designed by clients and their professional advisors to achieve the client’s personal and financial objectives. Or, it can be an arrangement imposed upon survivors by state intestate succession laws if someone dies with¬out a valid, up-to-date will. Even though a will is the most basic estate plan¬ning tool, two out of three Americans die without one.

A comprehensive estate plan can arrange the ownership, management and distri¬bution of your assets in ways that meet your needs and objectives while mini¬mizing estate shrinkage. Without such a plan, whatever you may think is going to happen to your estate after you’re gone probably won’t.

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An Estate Planning Primer

By Bill Willard

An estate plan can be designed by clients and their professional advisors to achieve the client’s personal and financial objectives. Or, it can be an arrangement imposed upon survivors by state intestate succession laws if someone dies with¬out a valid, up-to-date will. Even though a will is the most basic estate plan¬ning tool, two out of three Americans die without one.

A comprehensive estate plan can arrange the ownership, management and distri¬bution of your assets in ways that meet your needs and objectives while mini¬mizing estate shrinkage. Without such a plan, whatever you may think is going to happen to your estate after you’re gone probably won’t.

(more…)

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