Keep Your Estate Plan Flexible
Estate planning has become more difficult
in recent years due to changing estate tax laws.
All these changes can make it difficult to determine whether your
estate plan should be revised due to new changes. Thus, it is
increasingly important to build flexibility into your estate plan.
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Gifting Considerations
Deciding whether you should give a significant
asset to an heir during your life or after your death has typically
involved weighing potential estate tax costs against capital gains
taxes that would be due when the asset is sold.
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What Happens if You Become Disabled?
For many people, a long-term disability
would be financially devastating. Although no one likes to think
about this possibility, you should consider your options now so
you can obtain disability income insurance if needed.
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Watch Out for These Portfolio Mistakes
Investing is a gradual process - purchasing
some investments and selling others as the years go by. After
a period of years, this can result in a mixture of investments
that don't fit your overall investment strategy. Thus, periodically
review your portfolio, watching out for these mistakes.
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Painful Lessons about Saving for Retirement
First, the stock market declines in 2000
and during the past year removed substantial gains from individuals'
net worths. Now, the decline in housing values has reduced people's
net worths even more. For instance, the Center for Economic and
Policy Research estimates that the average net worth of individuals
between the ages of 45 and 54 is 25% less than it was in 2004,
due to declining home prices.
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