Are You Financially Independent?
Request a no-obligation meeting today with us to discuss your financial future and the possible role of insurance and investments in your financial strategy!
See JD's contribution to
"Retirement Investing in the Covid-19 Era: Four Takeaways"
in Advisor Magazine. To read the article click here
Many people feel they don't qualify or need a trust because they don't possess enough assets to justify having one. The truth of the matter is everyone is a candidate for a trust. A trust is not only for assets, it can contain a Power of Attorney for several different circumstances. If you want to determine whether to be cremated or buried, where to spread your ashes. Do you wish to be an organ donor? A trust is capable of all these functions, and many more.
Recently, I had a couple who had a trust. They had not had a review of the trust in several years, which can often make a trust useless. It has been my experience that trusts need to be updated or reviewed every 2 years, at minimum. This was the case with Mr. and Mrs. Martinelli. This very sweet couple has children, real estate, 401k's, cars, and additional investments. For starters, the durable, health, and mental health power of attorneys needed to be updated. The father of the couple, who was the agent for all of the P.O.A's, was now too old to fulfill the duties required. Also, many of the rental properties newly acquired were not listed for transfer into the trust, therefore exposing those assets to probate. Yes, that awful word "probate". For those of you not familiar with probate, it is a process where your estate is handled by the state of residence. This is a dangerous process as the state can determine where assets go, even if it contradicts the decedent's wishes. A costly situation that can be easily avoided. I'm happy to report that I reviewed Mr. and Mrs. Martinelli's trust, updated the necessary documents, transferred the properties, and tied up the loose ends. Something so simple that will avoid lethal exposure of the estate to probate.
JD Dorfman SR. Agent
I can do the same for you! Make sure your affairs are in order and buttoned up. It doesn't take long to avoid an attack on your life's accompaniments, get it done!
We are dedicated to running a business by always servicing clients with the Golden Rule: Treat others the way you would want to be treated.
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We are committed to earning your trust, thoroughly understanding your goals and dreams to help you feel confident in your financial strategies.
