Estate Planning Essentials: Protecting Your Assets and Loved Ones

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As a young professional, you may not think much about estate planning. After all, you’re just starting your career and building your assets. However, let me tell you. Having a plan in place to protect your hard-earned assets and loved ones in case of surprising, unwanted events is crucial, no matter your age or net worth. In fact, according to 2019 survey data from Caring.com, only 40% of Americans have a will or living trust in place. And for those aged 18-34, the percentage drops to just 17%. These numbers show that many people, especially young adults, are not taking the necessary steps to protect their assets and loved ones in case of an emergency.

If you’re here, chances are you’re up for making smarter money decisions. I love that! And I’m here to help. So read on and find out what you need to know about estate planning essentials.

Trusts and Will

Trusts and wills are, of course, essential tools to dictate how your assets will be thoroughly distributed after you pass away. A will outlines your wishes regarding property, guardianship of minor children, and more. It’s a crucial document that ensures your assets are distributed according to your desires. On the other hand, trusts offer added benefits by allowing you to pass on assets outside of probate court, providing privacy, and potentially reducing estate taxes for beneficiaries. There are various kinds of trusts available for you depending on every specific need and goal you’ve got. Stay tuned to this blog to learn more about it.

Power of Attorney

Let’s talk about the Power of Attorney, a crucial component of estate planning. This legal document basically allows you to appoint someone you trust to make the ultimate financial decisions on your behalf if you ever find yourself not able to do so yourself. It basically grants them the biggest authority to manage your assets and handle important matters like paying bills or selling property. Having a Power of Attorney in place can provide peace of mind, knowing that your finances will be handled according to your wishes. It’s essential to choose a reliable individual who understands your values and priorities. Keep in mind that there are different types of powers of attorney, each serving specific purposes.

Healthcare Directive

Aside from those two, don’t overlook the importance of a healthcare directive. This legal document outlines all of your wishes for medical treatment if you can’t communicate them yourself. It also allows you to legally appoint someone you trust to make necessary healthcare decisions on your behalf. A healthcare directive can provide clarity and peace of mind during challenging times for both you and your loved ones. By clearly stating your preferences regarding medical care, you ensure that your wishes are respected when you may not be able to express them.

 

Beneficiary Designations

These designations dictate who will ultimately receive your assets upon your passing, bypassing the probate process. Therefore, experts recommend you to review and update these designations once a year or two, especially after major life events, including marriage, divorce, or the birth of a child. Failing to do so could result in unintended consequences and disputes among loved ones. So, do your best to align your beneficiary designations with your overall estate plan and intentions. Keep track of accounts like retirement plans, life insurance policies, and investment accounts that require designated beneficiaries.

Guardianship Plan

When creating a guardianship plan, consider factors such as values, parenting style, and financial capabilities of potential guardians. It’s important to have open discussions with chosen individuals to ensure they are willing and able to take on this responsibility if needed. Remember that circumstances can change over time, so it’s essential to review and update your guardianship plan periodically. By taking the time now to establish a solid guardianship plan, you can provide peace of mind, knowing that your children will be taken care of according to your wishes.

Estate planning may not be an easy topic to broach, but taking proactive steps now can alleviate stress and uncertainty later on. Talk to legal and financial experts who specialize in estate planning so that you can ensure that everything is set up correctly.…


Getting a Personal Loan: How to Apply and Get Approved

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The process of getting a personal loan can be complicated and daunting. You may not know where to start or how to get approved for the loan you need. But never fear! We’re here to give you some tips on making the process easier and faster. We’ll start with what type of personal loans are available. Then we’ll go over several steps that will help you apply successfully for your loan. Don’t worry; it’s simpler than it sounds! You can also see the best personal loan rates at SFGate.com.

Know the Basics of a Personal Loan

application processFirst and foremost, you should know the basics of a Personal Loan. A personal loan is an unsecured form of borrowing money from a lending institution or bank. There are no collateral requirements for this particular kind of loan, which means that there are minimal requirements for choosing your lender. You can find the most common types of lenders in your local bank or credit union, online lenders, and even peer-to-peer lending platforms.

The interest rates on personal loans can vary depending on your credit score and the lender you work with. The average APR for personal loans ranges from 12% to 36%.

Get Pre-approved for a Loan

Get pre-approved for a loan before actually applying for one. You might have a particular reason you need to get a loan as soon as possible, but please do not just apply for the first loan offer that comes your way. It is best to pre-qualify with multiple lenders before diving in and committing yourself to an application process. This will give you some leverage and might even get you a lower interest rate.

Once you have found a lender, make sure to gather all the required information upfront so that the process goes as quickly and smoothly as possible. This will include your Social Security number, proof of income, recent pay stubs, bank statements, and credit score (if available).

Shop Around for the Best Rates

loan agentCompare the rates offered by different lenders before you apply. Don’t just go with the first offer you receive. This way, you can find the best personal loans that will suit your needs without hurting your budget. Some lenders have a good track record of lending to the less fortunate, so that they may be more open to lending you money even without your best credit score.

To get a personal loan, you should know the qualifications and requirements. You can apply for a personal loan online or at your bank with no credit check needed! With so many options available to you, it’s easy to find one that fits your needs. We are here to help guide you through applying for a personal loan so give us a call today!…


How to Sell Discount Cards as a Fundraiser

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When you have a plan to hold fundraising for your project, the fundraising discount card is the best solution. This has become the most popular way to raise funds for years. They are the fastest ways to make profits through the direct line. There are some reasons people think the fundraising discount card is the best efficient and profitable way to raise money. If you need to achieve your target, go with these discount cards for fundraising.

You can choose to sell the discount cards to the users to become profitable in your endeavors. These cards will allow your customers to receive discounts at the selected locations. It will be straightforward to sell these cards compared to other types of fundraising products. This could make a big difference in your deals. This article highlights how you to sell the discount cards as a fundraiser.

Contact the company offering fundraising cards

fundraising cardsYou need to have a communication with the company that produces the cards so that you may get a variety. This will help you in your deals as you will be able to provide more discount cards for different categories, for instance, the discount card for pizza will be different with the one for other chain restaurants.

Sell to members of your organization

When you want to have more customers for your fundraising discount cards, you need to contact people of your organization. These people are likely to buy your cards because they will be the ones who will benefit the most. Member who buys these cards can save their money with the card, and they will have a benefit from your organization.

Ask members to sell to friend and family

Your colleagues and friends might help you in selling the fundraiser cards to the friends and family members. Giving them access to selling your fundraising cards will benefit you a great deal. You will be able to get more customers to purchase the cards.

Set a target outside the local stores.

Set a target outside the local stores.This is important because if you talk to the manager of the local store, he or she might allow you to set a booth outside the business without any problem. This will help you to expose your fundraiser cards to more customers. You can also sell the cards to the local stores’ customers at large. You can also invite people to your website to meet those who cannot meet you in person.…