Continued from cover ...
Here is why...
comprehensive estate plans centered on funded revocable living trusts are the appropriate way to plan. If you are embarking on your estate planning journey, don’t be misled by TOD/POD or JTWROS as a substitute for a real estate plan. True, certain assets may only be passed on by TOD/POD. Naming your trust as a beneficiary is how such assets are managed, thus still delivering the promise and protection of trust planning. If you already have made your living trust, do not be distracted by the lure of TOD/POD and JTWROS as they are not complete solutions. Switching strategies from letting your trust control your estate to employing TOD/POD inappropriately may have unintended consequences. Employing JTWROS and TOD instead of trust ownership of assets will bypass your trust altogether. A properly funded living trust is a more reliable solution and ensures your estate is protected and distributed according to your wishes. A qualified and experienced estate planning attorney is the best resource for advice specific to you and your family.
Avoid Probate Entirely: A funded living trust bypasses all types of probate entirely, not just for the first owner but for all beneficiaries. Protect Beneficiaries: The trust can manage distributions and ensure heirs receive assets responsibly and at appropriate ages and address other unexpected family developments and curveballs of life. Minimize Taxes: Proper trust planning can help reduce or eliminate estate taxes and assure heirs receive a step-up in cost basis on capital assets such as securities and real estate. Control and Flexibility: The trust creator retains complete control during their lifetime and can adjust terms as needed. Shield Assets From Creditors: Trusts can protect against beneficiaries’ creditors, divorces, and lawsuits. Here’s the bottom line. Well-meaning advisors may sometimes recommend JTWROS and POD/TOD as alternatives to a comprehensive estate plan. In limited cases, they could be viable options. We find that for most of the people we help with estate planning, joint tenancy and TOD/POD arrangements carry risks and fall short of the objectives that a good estate plan should accomplish. Instead,
If you’re ready to create an estate plan that avoids these
potential pitfalls, contact us today! Take control of your legacy and gain peace of mind knowing your loved ones are protected.
Enrich Your Golden Years With L’art de Vivre Embrace the French Art of Living
Living like a French person isn’t just about enjoying cheese and wine; it’s about embracing l’art de vivre , or the art of living. This philosophy emphasizes finding joy in simple pleasures, prioritizing quality over quantity, and cultivating beauty in everyday life. For those of us reaching our golden years, adopting this way of life can enhance our quality of life and make every moment more fulfilling. Let’s explore how you can infuse your daily routine with French elegance and leisure. Slow down and savor. The essence of the French lifestyle is taking the time to savor life’s joys. In France, this might mean lingering over a meal rather than rushing through it. Apply this principle by taking time to appreciate the small details of your day, whether enjoying the quiet morning hours with a cup of coffee or watching the sunset. This deliberate
slowdown helps to reduce stress and increase mindfulness. Prioritize self-care. Self-care is paramount in French culture. It goes beyond vanity to encompass a comprehensive lifestyle that maintains mind and body health. This can involve a balanced diet rich in natural foods, regular physical activity, and routines nourishing the body and soul. As you age, these practices are vital for maintaining your health, energy, and vitality, allowing you to enjoy your years to their fullest potential. Choose quality over quantity. The French are known for their classic style, which favors quality over quantity. This principle applies to various aspects of life, from clothing to kitchenware. Investing in fewer but better-quality items ensures longevity and guarantees your purchases are meaningful and genuinely improve your life.
Inspire your inner artist. The French celebrate creativity as a significant aspect of their daily life. Emulate this by setting aside time for cultural activities that spark your creativity and passion. Whether attending a concert, visiting an art gallery, or simply engaging in a creative hobby at home, these activities enrich your life, stimulate your mind, and provide tremendous joy. Adopting these elements of the French art of living can bring richness and joy to your everyday life, proving that the golden years can be your most vibrant.
Published by Newsletter Pro • www.newsletterpro.com
2 513-721-1513
Made with FlippingBook Ebook Creator