Protect Your Wealth...Empower Yourself...

Effective estate planning is essential for everyone, regardless of age or circumstances, and should also form part of your financial planning process. Estate planning covers arrangements for your finances,in the untimely event of your death.

Effective estate planning should include:

A.] A valid, witnessed, up-to-date will...
B.] An appropriate power of attorney...
C.] Instructions to your executor about important financial and personal matters...

Estate planning allows you to leave detailed instructions on how you wish to deal with your finances, such as who will receive what, the way they will receive it, and when you wish them top receive it.

If you marry, it is important to update your will, as your existing will is null and void. It is highly advisable to set-up a trust as part of your estate planning to avoid estate taxes. If no estate plan is in place, a significant amount of your estate will be needlessly lost to taxes, fees, administrative costs, and probate. This is where it is important to retain the services of a qualified asset protection attorney to ensure that you have structured your estate appropriately. This is Empowering.

Being prepared for the unexpected is important. Sometimes in life circumstances determine that we are unable to work for a prolonged period, be it through sickness or accident. Being off work for a prolonged period of time can in itself be devastating and stressful, but there are ways that through forward thinking, you can plan and prepare to ensure that you, your family or your partner can manage in the event of loss of income.

Do we need income protection? Yes! Income protection pays the equivalent of your regular income should you be off work because of sickness or an accident. It is ideal if you:

A.] Have dependents and need to ensure that they can still pay the bills in the event that you cannot work.
B.] Own a business and rely on your income to service loan repayments.
C.] Own your own business where income protection can be regarded as a cost of doing business.

Some few benefits of income protections include:

A.] An income protection plan that allows you to receive up to 75% of your regular earned income if you are unable to work because of sickness or injury.
B.] Income protection can be simple and inexpensive.
C.] Premiums may be tax deductible, depending on your individual circumstances.
D.] If you are self-employed, you can take out an additional type of income protection also known as business expense insurance, which provides coverage for the operating expenses of your business whilst you are unable to work as a result of sickness or accident.

Whether you are part of a couple, a family with dependents or single, Life Cover and Total Permanent Disability insurance should form a part of any financial plan.

Life Cover offers a lump sum payment on the death of the insured, providing financial security for your partner or family, allowing them to meet their financial obligations.

Total and Permanent Disability Insurance typically acts as an addition to Life Cover. Should you become totally and permanently disabled, your insurer would provide you a lump sum payment, to help cover your financial commitments and any necessary nursing care.

Both life and disability cover are simple and inexpensive precautions that should be an integral part of everyone's financial plan. When you incorporate these principles into your financial structure, you give yourself a measure of stability and protection to hedge against those unforeseen and unpredictable emergencies. These proactive measures "Empower Your Wealth".

If you have not appropriately set-up you financial or estate plan....make a goal to do so ASAP. If you do not know of an excellent attorney, or have questioned some advice you have received, contact me directly. Elizabeth Zagajeski, attorney-at-law, a principal in the Law Offices of Gary Fales & Assoc, is an expert in estate and asset protection planning. I can make a confidential and private introduction for you, enabling you to discreetly discuss your unique situation...thus "Empowering Your Wealth".