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Brought
to you by:
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About Our Firm:
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We are a client-centric financial planning firm with a focus on safety and stability. We can directly fulfill the portions of the planning that includes mortgage and insurance services. Our affiliates manage any tax planning, estate planning, securities and investments services, or we coordinate with your preferred providers.
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| QUOTES from
the
Masters... |
| On Attitude |
On Change/Choice |
| "What
we see depends mainly on what we look for." -- John
Lubbock
"Age
is a matter of feeling...not of years." --
George
William Curtis
"Watch
your manner of speech if you wish to develop a peaceful state of mind.
Start each day by affirming peaceful, contented and happy attitudes and
your days will tend to be pleasant and successful." --
Norman
Vincent Peale
"You
can do 99% of the things right but not posses a winning attitude, and
you
will fail." -- Art Williams
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"I
used to say, 'I sure hope things will change.' Then I learned
that
the only way things are going to change for me is when I change." -- Jim
Rohn
"To
improve your life, be prepared to make new choices and decisions."
-–
Brian Tracy
"Are
you a thermometer or a thermostat? A thermometer only reflects the
temperature
of its environment, adjusting to the situation. But a thermostat
initiates action to change the temperature in its environment." -–
Nido Qubein
"You
must be on top of change or change will be on top of you." -–
Mark
Victor Hansen
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Avoiding Probate...
| Probate
is simply the Latin word for prove,
which means that the estate probate process is the process by which
your
will is brought before a court to prove that it is a valid will.
The courts charged with this responsibility are generally known as probate
courts, which may actually supervise
the
administration or settlement of your estate.
Supervision
of the estate settlement process by the probate court can result in additional
expense, unwanted publicity and delays of a year or more
before heirs receive their inheritance. The publicity, delays and
cost of probate motivate many people to explore ways in which to avoid
or minimize the impact of probating a will, including:
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State
Statute
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If
specific requirements are met, many states
have made provision for certain estates to be administered without the
supervision of the probate court, resulting in less cost and a speedier
distribution to heirs. |
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Form of
Property
Ownership
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The
joint
tenancy
form of holding title to property allows ownership to pass
automatically
to the surviving joint tenant, who is normally the surviving spouse. |
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Transfer
on Death
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Many
states have enacted Transfer on Death
statutes
that allow a person to name a successor owner at death on the property
title certificate for certain types of property, including real
estate,
savings accounts and securities. |
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Life
Insurance
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Unless
payable to the estate, life insurance
proceeds
are rarely subject to the probate process. |
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Lifetime
Giving
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Gifts
given during life avoid the probate process,
even if made shortly before death. |
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Trusts
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A
"Totten"
trust,
which is a bank savings account held in trust for a named individual,
can
be used to pass estate assets at death outside of the probate process.
A
revocable
living trust,
created during the estate owner's lifetime, can be an effective way to
avoid the expense and delay of probate, while retaining the estate
owner's
control of his or her assets prior to death.
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Proper planning may serve to minimize the impact of
the probate process on your
estate and heirs.
Any potential
method of avoiding probate, however, should be evaluated in terms of
its income and/or
estate tax consequences, as well as its potential impact on the estate
owner's overall estate planning goals and objectives. |
| MESSAGES
from
the Masters... |
THREE
KEYS TO GREATNESS by Jim Rohn
Several years
ago I went into the studio and recorded a 56-minute video for teenagers
called "Three Keys To Greatness." Although my focus was for
teenagers,
the principles I shared certainly apply to adults as well.
Recently
I was asked to list these three things using one to two sentences for
each.
Now for your benefit here they are again.
1)
Setting Goals. I call it the view of the future. Most people,
including
kids, will pay the price if they can see the promise of the future. So
we need to help our kids see a well-defined future, so they will be
motivated
to pay the price today to attain the rewards of tomorrow. Goals help
them
do this.
2)
Personal Development. Simply making consistent investments in our
self-education
and knowledge banks pays major dividends throughout our lives. I
suggest
having a minimum amount of time set aside for reading books, listening
to audiocassettes, attending seminars, keeping a journal and spending
time
with other successful people. Charlie Tremendous Jones says you will be
in five years the sum total of the books you read and the people you
are
around.
3)
Financial Planning. I call it the 70/30 plan. After receiving your
paycheck or paying yourself, simply setting aside 10% for saving, 10%
for
investing and 10% for giving, and over time this will guarantee
financial
independence for a teenager.
If
a young person, or for that matter an adult, focused on doing these
three
simple things over a long period of time I believe they will be assured
success!
To
Your Success,
Jim
Rohn
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The purpose
of this newsletter
is to provide information of general interest to our clients, potential
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general
in nature and should not be considered complete information on any
product
or concept described. For more complete information, please
contact
my office at the phone number above.
Financial Advisor Certified Mortgage Planner Private Real Estate Banker/Investor Licensed Life, Health & Annuity Agent FINRA (formerly NASD) is located at www.finra.org.
SIPC is located at www.sipc.org.
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