It’s important to have your financial affairs in order, but the thought of putting together a will or trust may feel overwhelming. No one knows when their time will come, so, it’s best to be prepared at any age. Also, a debilitating illness or car accident can incapacitate anyone without warning, leaving a person unable to manage their finances or express their needs. Establishing a clear protocol for the distribution of assets and for medical preferences will ease a painful time for family members while ensuring your instructions are carried out.
Who Needs Life Insurance?
The primary responsibility of life insurance is to replace future earnings should a primary bread winner pass away. If you have children, a spouse or a parent that depends on your income, then life insurance might be a good choice for you. On the other hand, if you're single or have accumulated enough wealth, you may not need the added expense.
Don't have access to a 401(k), 403(b) or other tax-advantaged accounts? Good news...anyone can open up an Individual Retirement Account (IRA) to invest in their future, while also taking advantage of some potential tax breaks. Along with a quick overview, this article takes a look at two popular options—Traditional and Roth IRAs.
The loss of a partner is not only devastating, but the myriad of credit issues that come with such a death can be overwhelming. While nothing can ease the pain of losing a spouse, the following can help simplify necessary monetary decisions and protect your future financial security.
The death of someone close to you, a spouse or a parent, can easily be one of the hardest times of your life. Unfortunately, this situation is often compounded by pressure to make financial decisions immediately, but in reality, you should give yourself sometime. Making emotional or rash decisions now maybe hard to undo in the future.
Like most Americans, estate planning and end-of-life decisions are things you intend to accomplish. Someday. Not the most uplifting of topics, if you’ve procrastinated, you’re not alone. According to AARP, 60 percent of American adults have yet to complete this important task. This guide will provide some basic information to help you get started on protecting your loved ones and everything you’ve worked for in the process.
Coloradans have among the longest life expectancies in the nation, but it's never too early to start planning your estate. Proactively having an estate plan is a selfless gift you can give your family. If you don't have some type of plan in place, the state ends up deciding what happens to your assets. Here’s what you need to know about estate planning so you can be the one in the driver’s seat.