Earn A Guaranteed Income
As most people, you want to accumulate wealth, in order to:
- Take care of your continual needs - for all of retirement
- Pass on as much as possible to your intended heirs
- STRATEGIES FOR LIFETIME INCOME PLANNING
Through the following three strategies, you are able to accumulate wealth, while passing on as much to your intended heirs.
These strategies could greatly improve your lifestyle!
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1. Annuitization
This is the process of projecting how long you will live and then justifying how much money you can take out – without outliving your income.
2. Tiering
Setting aside money for income now and income later – always replacing what you spent.
3. Ever Pay
The process of receiving a guaranteed income for the rest of your life.
Attorney’s fees, executor’s fees, and advertising
all account for charges that can add up to 10% to the cost of probate.
The executor can charge up to 5% of the estate value. In addition, taxes
can take up to 55% of some assets if planning is not done properly.
If
everything goes smoothly it can be as quick as a couple of months. It
has been estimated that the average is a little over 9 months. Probating
an estate while one of the spouses is survived goes much quicker. When
you pass assets out of the marriage union it can take considerably
longer.
Because the process includes public announcements
and a court process, anyone who wants to know the details can check them
out. A simple trip to the courthouse or as in some states, you can pull
the information up on the computer in your living room.
At
anytime during the probate process, anyone can contest the ownership of
the deceased assets. Once a claim is filled all assets are frozen and
each side (the one making the claim and the executor of the estate) must
prove their side, to carry out the transfer of the estate. Once this
happens the other three issues can increase dramatically.
