F INANCIAL PRE PARE DNE SS AND E ST AT E PL ANNING Wha ts - PowerPoint PPT Presentation

F INANCIAL PRE PARE DNE SS AND E ST AT E PL ANNING

Wha t’s in YOUR wa lle t?  No powe r ?  No inc ome ?  No c r e dit?  E me r ge nc ie s?

E SCAPE – E me r ge nc y Stash of Cash Ac c e ss Plan, E h?  Good = $20 (in phone c ase )  Be tte r = $1,000 (2 we e ks? Stor e whe r e ?)  Be st = 3 months c ash e xpe nse s  E xtr e me ly fantastic = 6 months e xpe nse s

CHOICE S YOU MAKE SAVE OR COST YOU MONE Y

T he Po we r o f Simply Saving a L ittle

 T he r e is a por te nt of stor my we athe r ahe ad to whic h we had be tte r give he e d… . . If you have paid your de bts, if you have a r e se r ve , e ve n though it be small, the n should stor ms howl about your he ad, you will have she lte r for your wive s and c hildr e n and pe ac e in your he ar ts. T hat’s all I have to say about it, but I wish to say it with all the e mphasis of whic h I am c apable .  Hinc kle y, E nsig n 11/ 98

1. Da ve Ra mse y Se ve n Ba by Ste ps  1. $1,000 E me r ge nc y F und  2. Pay off nonmor tgage de bt  3. 3- 6 months in savings  4. Inve st 15% in r e tir e me nt  5. Colle ge funding  6. Pay off home e ar ly  7. Build We alth and GIVE ge ne r ously

2. Budge t  T e ll your mone y whe r e to go!  Dave Ramse y.c om or E ve r yDollar .c om L DSPr ovide ntL iving.or g  USE it – adjust, r e vise , adapt

3. Pa pe rwork in Orde r  F amily Suc c e ssion Plan  Or iginals – ke e p safe  Copie s – to suc c e ssor s  F ile F olde r s: c ur r e nt, taxe s, e state plan, c r e dit, me dic al, insur anc e , inve stme nts, r e tir e me nt, r e c e ipts, c ar r e c e ipts, major

4. Build support te a m  CPA, financ ial planne r , insur anc e age nt, banke r , e state planning attor ne y  YOU ar e the ir boss  Annual c he c k- up

5. Insura nc e c ove ra g e  He a lth  L ife  House / r e nte r s  Ve hic le s  Umbre lla  Shor t- te rm disa bility  L ong - te rm disa bility  ID the ft pr ote c tion

6. E sta te Pla nning  Kids  E ase of tr ansfe r  Inc ompe te nc e  Spe c ial ne e ds  Avoid c osts!

PROBAT E  Cour t pr oc e e ding  Wills don’t avoid  T r igge r s:  CA = $150K gr oss  NV & UT = $100K ne t  AZ = $75K R/ E , $50K pe r s  Attor ne y and e xe c utor fe e s  E ST AT E T AXE S - $5.4m

Comple te E sta te Pla n  L iving T r ust – r e voc able  Will – pour - ove r  Nomination of Guar dian  DURABL E powe r of attor ne y for F inanc ial Manage me nt  Advanc e He althc ar e Dir e c tive  HIPAA author ization

Handouts! – L e hi Pr e ppe r s on F ac e book  Class outline  We bsite r e fe r e nc e s  F amily suc c e ssion plan  101 Wa ys to SAVE mone y  Sample budge t

WE ARE ST E WARDS

Conne c t with Me rrile e  law@boyac ks.c om  F ac e book/ Me r r Boyac k  Me r r ile e Boyac k.c om