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Types of Life Insurance
Life insurance is not one-size-fits-all. The right policy depends on your age, financial goals, family needs, and estate planning objectives. Term life insurance provides affordable coverage for a set number of years, while whole life insurance offers lifelong protection and builds cash value. Universal life insurance provides greater flexibility in premiums and benefits, and variable…
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Life Insurance and Estate Planning
Life insurance is more than just a financial product—it can be an important part of a well-designed estate plan. The right policy can help replace lost income, pay debts, provide for your loved ones, fund a child’s education, or preserve assets after your death. There is no one-size-fits-all solution. Term life insurance may provide affordable…
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Asset Protection Tip #3-Use an LLC
If you have investment real estate, aside from insurance, moving it into a limited liability company (LLC) can be an effective way to protect your assets. A properly operated LLC can limit inside liability- where the property is the source of the liability, such as a slip and fall. Generally an LLC limits inside liability…
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Asset Protection Tip #2 Liability Insurance
The first line of defense is insurance, including homeowner’s or renter’s, automobile, business, professional, malpractice, long-term care, and umbrella policies. Liability insurance not only provides a means to pay money damages but can often include payment of all or part of the legal fees associated with a lawsuit. If you do not have an umbrella…
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Revocable Trusts Don’t Protect Assets
Many people believe that once they set up a revocable living trust, they are protected from lawsuits and long-term care costs. This is not true. While trusts commonly protect a beneficiary’s inheritance, few trusts protect assets previously owned by the settlor from the settlor’s creditors and cost of care. Because the settlor can revoke the…
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Traditional Asset Protection Planning
Asset protection planning is the positioning of assets to protect your property before a claim or the threat of a claim arises. Several types of traditional asset protection planning have been around for years. The most common is liability insurance-automobile, homeowner’s or renter’s, personal property, umbrella, officers’ and directors’, malpractice, and the like. Another common…
Category: Insurance
Eckert & Krautkramer, LLC
Protecting Assets, Preserving Dignity, Ensuring Peace of Mind
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