Traditionally, most people have relied on a will to pass their assets on to heirs. But wills aren’t the only solution. Revocable trusts have become an increasingly popular estate planning tool. A revocable trust, also known as a living trust, is a written document you (the “grantor” or “trustor”) create during your lifetime, which contains
The typical Social Security scenario is simple: A beneficiary stops working and begins taking the full benefits to which he or she is entitled. But when a Social Security recipient is also drawing work income, things get a little more complicated. Work income may reduce the size of your Social Security check. Let’s look specifically
If you follow the financial news, you know that China’s stock market is in the midst of a sharp slide. The benchmark Shanghai Stock Exchange Composite Index has fallen more than 23% in the nine weeks since June 12th of this year, closing down more than 30% some five weeks ago on July 8th. What’s
Financial planning: It can significantly improve your quality of life. But if done properly, its benefits extend even beyond your lifetime. One of the best examples of this is a living will. A comprehensive plan will include an updated, valid living will with a health care power of attorney. These documents help ensure that your
We are often asked, “What happens if I die without a will?” The answer is simple: You leave behind a mess for your family – one that will be managed by strangers through the court system. Leaving clear directions upon your death isn’t just a way to exercise control over your assets and important matters; it’s an act
The “Greek drama” is over – or at least at an intermission. But for investors, the dire headlines generated by the country’s financial crisis provided a stiff test of self-discipline. First, a recap: Earlier this week, Greece and its Eurozone creditors tentatively agreed on a last-minute bailout package that could stave off economic collapse in
Warren Buffett has attributed much of his well-known investment success to two rules. Rule #1: Never lose money. Rule #2: Never forget Rule #1. What the Oracle of Omaha is reminding us, in a humorous way, is to keep our eye on the return of our capital, even more so than the return on our
Financial fraud has been with us since ancient times, but it has exploded in the Internet age. According to the 2014 Identity Fraud Study, there is a new identity fraud victim every two seconds. The more resources you have for fighting fraud, the better. In a blog in November, we gave you tips for Keeping
If you use a budget, then you know it’s one of the great tools for helping you better manage your cash flow, especially when living off of investment income. If you piggy-back your budget with a second tool ‒ a saving and spending policy ‒ then you can better meet your savings goals and protect
To most people, Social Security seems like a very simple concept: You pay in to the system during your working years, then you retire and start getting those monthly checks. But if you want to maximize your benefits (and who doesn’t), you need to study how and when to start taking your benefits. You need
Copyright © 2005-2024 ICW Investment Advisors LLC. All rights reserved.