Posternock Apell Law Firm

The Estate Planning Process https://lnkd.in/geumeaBk. Estate planning involves determining how an individual’s assets will be preserved, managed, and distributed after death. It also takes into account the management of an individual’s properties and financial obligations in the event that they become incapacitated. Assets that could make up an estate include houses, vehicles, stocks, art, collectibles, life insurance, pensions, debt, and more.

Financial Planning: What It Is and How to Make a Plan https://lnkd.in/dy2GwgR An investment plan starts with a financial plan. Both identify your financial goals and address the financial resources you have available to meet them.

Tips for Making a Retirement Spending Plan https://lnkd.in/ghTNaEJP Retirement spending plans tell you what portion of your retirement savings you can spend each year. Here’s how to start a retirement spending plan of your own.

Business succession planning: Building an effective team https://lnkd.in/gEn9W6Gc The first step to a successful business succession plan is building an effective team of professionals. Here are some things to consider.

How Entrepreneurs Can Eliminate This Damaging Tax Liability with Smart Planning https://lnkd.in/g_paQAeF Entrepreneurs are busy. Often too busy for their own good or at least the good of their legacy. You're likely very dialed into your balance sheet and P&L, but what about estate planning?

Understanding the rule of 55: A comprehensive guide to early retirement https://lnkd.in/ggRG9Yzh Contributing to a 401(k) or 403(b) plan is easy enough. But getting your money back out is a different story. Pulling this money out of one of the best retirement plans before you turn 59 ½ often results in a substantial penalty fee on top of income tax. However, the IRS gives people aged 55 an option to access their 401(k) penalty-free if they leave their jobs and want retirement fund access at 55. This ""rule of 55"" could save serious money if you want to retire early or need to make a one-time withdrawal from your plan to cover a major expense.

Probate: What It Is and How It Works With and Without a Will https://lnkd.in/g6ANdj6 Probate is the process completed when a decedent leaves assets to distribute, such as bank accounts, real estate, and financial investments. Probate is the general administration of a deceased person's will or the estate of a deceased person without a will

What Is a Trust? Definition, Account Types and Benefits https://lnkd.in/gCK9tnSw A trust, sometimes called a trust fund or trust account, is a legal arrangement to ensure a person’s assets go to specific beneficiaries. The trust creator puts assets in the trust account and authorizes a trustee to administer those assets for the trust creator or beneficiaries.

Get Your Estate Plan in Order for 2024 https://lnkd.in/gWZs3DF5 Death will come to us all, and we must prepare our finances and other assets for that day. When my grandmother died, it wasn’t too hard financially to plan her funeral because she had life insurance that covered those expenses. And there was also a smooth succession of the ownership of her home to my aunt. Here are some tips on preparing your estate plan.

How To Build An Effective Retirement Plan https://lnkd.in/g8XReaxr Setting yourself up for a financially secure retirement is a complex process that benefits immensely from early planning and ongoing management. As an independent financial advisor, I’ve had the privilege of helping clients from various backgrounds and nationalities tailor retirement plans that align with their unique aspirations and financial situations. Through these experiences and their examples, I’d now like to share valuable considerations to help you build a comprehensive retirement plan.