Tag Archives: stock

Retirement Planning: A Document Checklist

Retirement Readings

June 15, 2016

Retirement planning

DOCUMENT CHECKLIST

You may find this Document Checklist of assistance in your planning. Please contact my office if we can be of further assistance.

Document

Location

Personal

Birth Certificate

 

Marriage License

 

Pre- or Post-Nuptial Agreement

 

Will

 

Trust(s)

 

Living Will(s)/Power(s) of Attorney

 

Mortgage Papers

 

Automobile Titles/ Papers

 

Income Tax Returns

 

Gift Tax Returns

 

Insurance Policies

 

Employee Benefit Documents

 

Passport

 

Military Records

 

Medical Records

 

Citizenship Papers

 

Warranties

 

Current Bills

 

Funeral/ Burial Documents

 

Other:_______________

 

Business Ownership

Partnership/ Incorporation Documents

 

Buy-Sell Agreement

 

Section 303 Stock Redemption Agreement

 

Business Valuation/Appraisal

 

Business Tax Returns

 

Other:_______________

 

MESSAGES
from the Masters…

FOUR WAYS TO MASTER CHANGE

by Sheila Murray Bethel

We are living in exciting age of unprecedented change. Today’s accelerated rate of change presents us with unique challenges and opportunities. When change brings success, keep your ego from getting out of hand. When the change is negative, use your sense of humor to get through it. Once you learn to handle change, you can take your skills, talents, and abilities and help others change. Let’s look at four ways to enhance your mastery of change.

1. Don’t Fight It.

The natural tendency is to protect what you know and value, what has become familiar and comfortable. Unfortunately the world will change with or without you. So you must adapt again and again. You make your life so much more complicated when you fight the change. You cause yourself stress and can actually become ill. Remember the old Serenity Prayer: God grant me the serenity to accept the things I cannot change, The courage to change the things I can and the wisdom to know the difference.

2. You don’t have to like the Change.

No one ever said you have to like the changes you are experiencing. However, you do have to understand them so you can progress. Study, explore, and read everything you can about the current matters that affect your perception and handling of change. Life is not always about “liking.” It is about doing the best you can, with what you you’ve got and getting on with it–right now!

3. Know what to defend against change.

There are some things we should resist changing because change does not always translate into better. Change for the sake of change alone can destroy valuable situations, assets, and relationships. Many values deserve to be defended. Ask yourself what you will change and what you will defend.

4. Have a Sense of Humor.

Humor can give you a momentary “emotional vacation.” A sense of humor can conquer pretense, and diffused anger and hostility. It can take an impossible situation and change it into an acceptable one. The old axiom, “if you take yourself too seriously, no one else will,” is key. The most effective people are spontaneous and can use humor to express their feelings, and to encourage others.

When you set out to be a change master and to make a difference in this world, there is no guarantee that it will be easy. By learning about change, serving others and helping them to learn to change, you will indeed be making a difference.

QUOTES
from the Masters…

 

On Integrity

 

“Always do right! This will gratify some people and astonish the rest.”

— Mark Twain

“A “NO” uttered from deepest conviction is better and greater than a “YES” merely uttered to please, or what is worse, to avoid trouble.”

— Mahatma Gandhi

“The virtue of man ought to be measured, not by his extraordinary exertions, but by his everyday conduct.”

— Blaise Pascal

 

On Kindness

 

“I believe…that every human mind feels pleasure in doing good to another.”

— Thomas Jefferson

“The world is my country, all mankind are my brethren, and to do good is my religion.”

— Thomas Paine

“Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around.”

— Leo Buscaglia

“Because the soul has such deep roots in personal and social life and its values run so contrary to modern concerns, caring for the soul may well turn out to be a radical act, a challenge to accepted norms.”

— Thomas Moore

Wealth Relacement Trusts

Estate Ideas

April 6, 2016

WRT

WEALTH REPLACEMENT TRUSTS

Another Role for Life Insurance… The Wealth Replacement Trust

The Problem:

There can be significant tax advantages in giving appreciated assets to a charity. Examples include real estate and securities. If you were to sell an appreciated asset, the gain would be subject to capital gains tax. By donating the appreciated asset to a charity, however, you can receive an income tax deduction equal to the fair market value of the asset and pay no capital gains tax on the increased value.

For example, Donor A purchased $25,000 of publicly-traded stock several years ago. That stock is now worth $100,000. If she sells the stock, Donor A must pay capital gains tax on the $75,000 gain. Alternatively, Donor A can donate the stock to a qualified charity and, in turn, receive a $100,000 charitable income tax deduction. When the charity then sells the stock, no capital gains tax is due on the appreciation.

When a donor makes substantial gifts to charity, however, the donor’s family is deprived of those assets that they might otherwise have received.

A Potential Life Insurance Solution:

In order to replace the value of the assets transferred to a charity, the donor establishes a second trust – an irrevocable life insurance trust – and the trustee acquires life insurance on the donor’s life in an amount equal to the value of the charitable gift. Using the charitable deduction income tax savings and any annual cash flow from a charitable trust or charitable gift annuity, the donor makes gifts to the irrevocable life insurance trust that are then used to pay the life insurance policy premiums. At the donor’s death, the life insurance proceeds generally pass to the donor’s heirs free of income tax and estate tax, replacing the value of the assets that were given to the charity.

Please contact my office if you would like more information on wealth replacement trusts.

MESSAGES
from the Masters…

LIVING AND OPERATING WITH INTEGRITY 

by Paul J. Meyer

Integrity is where it all begins!

Integrity is real and concrete!

Integrity is measurable and includes traits like being honest, keeping your word, standing your ground for what is right, and maintaining your honor.

It is something you can’t pretend to have.

Real integrity is treating others the way you want to be treated even when nobody is watching…the Golden Rule.

If your foundation is one of integrity, your choices and decisions will bear that out. On the other hand, if you lack integrity, that too will become evident.

Your upright actions will show in every instance that: “I do the right thing simply because it is the right thing to do.”

In the book of Proverbs, it says: The integrity of the upright guides them. Also, A person of integrity works securely, but he who walks a crooked path will be found out.

Here are some benefits I have found from keeping integrity:

* Increased sales and profits
* Inspiration and motivation
* Unexpected favor
* Respect and appreciation
* A good name and reputation
* Peace and contentment
* God’s blessings in every part of my life

QUOTES
from the Masters…

 

On Thinking Big

 

“If you want to have a WOW life, write yourself a WOW business plan.” 

-– Mark Victor Hansen

“Never measure the height of a mountain until you have reached the top. Then you will see how low it was.”

-– Dag Hammarskjold

“Looking to the stars always makes me dream, as simply as I dream over the black dots representing towns and villages on a map. Why, I ask myself, shouldn’t the shining dots of the sky be as accessible as the black dots on the map of France?”

— Vincent Van Gogh

“Every great advance in science has issued from a new audacity of imagination.”

— John Dewey

 

On Perseverance/ Persistence

 

“When you get into a tight place, and everything goes against you, till it seems as though you could not hold on a moment longer, never give up then–for that is just the place and time that the tide will turn.”

— Harriet Beecher Stowe

“Big shots are only little shots who keep shooting.”

-– Christopher Morley

“If what you are doing is worth doing, hang in there until it is done.”

-– Nido Qubein

“Winning is easy…all you have to do is outlast your opponent.”

-– Doug Firebaugh