JAN/FEB 2014
Personnel effects
SAFETY continued from Page 14
SAVE continued from Page 15
and be prepared to give CPR if
necessary.
you don’t want to rely on Social
Security, relatives or social services
agencies for your well-being when
you are elderly.
Driving Safety
31
II. Why do you need estate
planning?
Succession is the mandatory court
proceeding which completes all
Planning is your strategy to overthe legal and financial matters of
come obstacles in preserving your
the decedent. If there is a Will, the
wealth during life and transferring it Probate Court reviews it and rules
after death. The principal obstacle all on it validity. It pays off all creditors
of us face in planning our estates are: and inventories all assets. Finally,
1. SUCCESSION
it changes the title of all the assets
2. DEATH TAX (Federal Estate
from the name of the decedent to
Tax)
the names of the beneficiaries name
3. CONSERVATORSHIP
in the Will. This procedure usually
4. IT IS A PUBLIC PROCESS
takes one to three years.
5. LONG DELAYS, UP TO 2
VII. What are the disadvanYEARS OR MORE
tages of Probate?
6. VERY COSTLY
For benefits of court supervision in
7. AGGRAVATION and STRESS Probate, your family will pay a heavy
III. What methods are used to
price.
plan an estate?
Excessive fees: Attorney’s fees, ExThere are three basic methods we
ecutor’s fees, Appraisal fees, Court
can use to plan an estate?
filing fees and Bond Premiums are
1. Do nothing
in some circumstances, astronomi2. Create a Will
cal.
3. Establish a Revocable Living
Trust
Excessive delays: Probate averages
IV. What happens if I do
between six months and three years
Nothing?
to complete, depending on the
Believe it or not, a majority of
complexity of the Estate. It has been
Americans choose to do nothing.
reported that the national average is
It has been reported that 70% of all
almost two-year delay.
Americans have no estate plan. As
VIII. Have a Revocable Trust;
a consequence, upon their death,
Make an Easy Transition without Courts.
state law dictates how their Estate
is distributed. Unfortunately, the
government’s plan has no particular ARTIST continued from Page 28
concern for the best interest in your paintings, but it is her determinafamily.
tion that leads her to complete her
V. Is creating a Will a good
efforts.
Braking time can be up to nine
Chrysantha Clark, CFP® may be
times longer in snowy or icy conreached at Keystone Financial
ditions. If your vehicle begins to
skid, let off the gas and brakes and Group, 859.317.8316 or chryuse a quick hand-over-hand steer- [email protected].
www.keystoneky.com
ing technique to turn the front
tires in the direction you want to
* This is a hypothetical example and is not reprego. Keep your gas tank half full to
sentative of any specific situation. Your results will
vary. The hypothetical rates of return used do not
prevent the fuel line from freezreflect the deduction of fees and charges inherent to
ing. Make sure your tires have
investing.
adequate air and routinely check
There is no guarantee that a diversified portfolio
the tire pressure during winter.
will enhance overall returns or outperform a nondiversified portfolio. Diversification does not protect
Keep wiper fluid full and replace
against market risk.
shoddy wiper blades. Keep a
This material was prepared by MarketingLibrary.Net
long-handled windshield scraper
Inc., and does not necessarily represent the views of
handy. Store an emergency kit
the presenting party, nor their affiliates. All information is believed to be from reliable sources; however
in your vehicle. Good things to
we make no representation as to its completeness or
include in it are: blankets, extra
accuracy. Please note - investing involves risk, and
past performance is no guarantee of future results.
clothing, water, flashlight, batterThe publisher is not engaged in rendering legal,
ies, battery-operated radio, phone accounting or other professional services. If assistance
engage the
charger, chemical heaters, jumper is needed, the reader is advised to informationservices
of a competent professional. This
should
cables, written list of emergency
not be construed as investment, tax or legal advice
may not be relied on for
of avoiding
contacts and any relevant medical and Federal tax penalty. This the purposesolicitation
any
is neither a
information (conditions, blood
nor recommendation to purchase or sell any investment or insurance product or service, and should not
type, allergies, medications), cat
be relied upon as such. All indices are unmanaged and
litter or sand for tire traction, a
are not illustrative of any particular investment.
small shovel, flares, first-aid kit
Citations.
and non-perishable, high-energy
1 - money.cnn.com/2012/08/15/pf/expert/latestart-retirement.moneymag/ [8/15/13]
foods such as nuts and granola
2 - irs.gov/uac/IRS-Announces-2014-Pensionbars. Don’t leave your vehicle
Plan-Limitations;-Taxpayers-May-Contribute-upto-$17,500-to-their-401%28k%29-plans-in-2014
T H E Y E A R W A S 1 9 8 5idea?
…
if you’re stranded; wait in it. If
[11/4/13]
Ronald Reagan was the 40th president.
the vehicle is still running, keep
3 - forbes.com/sites/ashleaebeling/2013/11/01/reMany people plan their Estates by
“The Golden Girls” were fast becoming friends on their first season on TV.
tirement-savings-for-the-self-employed/ [11/1/13]
the exhaust pipe clear to prevent
A gallon of gas cost one dollar and twenty cents. creating a document called a Last
carbon mon