If there isn’t a will, the court distributes your estate according to state inheritance laws. Properly planning your estate before your passing can also keep it out of probate, which is the legal process by which a court-appointed individual analyzes and authenticates your will and estate. The goal of estate planning is also to make sure that your beneficiaries receive their inheritance while minimizing the impact taxes have on your estate. To help you get started, we are sharing seven tips for estate planning in North Carolina.Īt its simplest definition, estate planning is the process of putting your affairs in order to ensure your estate is handled according to your wishes after you pass on. Capital Boulevard North Upgrade (Wake Forest to Raleigh)Įstate planning may seem overwhelming and something that can wait another day, but it’s also one of the most important steps you can take to protect your loved ones in the event you pass away or become incapacitated.70 Improvements Project: Brier Creek Parkway and T.W. A User’s Guide to Eminent Domain in North Carolina.Failure to Provide Appropriate Treatment.Life insurance products contain fees, such as mortality and expense charges, and may contain restrictions, such as surrender periods.(919) 365-6000 Call Us ( Toll-Free Number ) Navigation **Please keep in mind that the primary reason to purchase life insurance product is the death benefit. The guarantees have no bearing on the performance of the variable investment options. Guarantees are based on the financial strength and claims-paying ability of the issuing company. Variable annuities are subject to market fluctuation, investment risk and loss principal. Variable annuities have additional expenses such as mortality and expense risk, administrative charges, investment management fees and rider fees. There are charges and expenses associated with annuities, such as deferred sales charges for early withdrawals. Not insured by any Federal Government Agency. If the annuity will fund and IRA or other tax qualified plan, the tax-deferral feature offers no additional value. Earnings are taxable as ordinary income when distributed, and if withdrawn before age of 59 ½, may be subject to a 10% federal tax penalty. *An annuity is a long-term, tax deferred investment vehicle designed for retirement. Source: 2000 Field Guide, National Underwriter You should always consult your tax or legal advisor regarding your own specific tax/legal situation. * Financial Advisors do not provide tax or legal advice. "Why You Need an Estate Plan Post 2013 Tax Act". Nor is the company liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, sites, information, and programs made available through this site. When you link to any of these websites provided herein, Mitcham Financial Services makes no representation as to the completeness or accuracy of information provided at these sites. The information being provided is strictly as a courtesy. No offers may be made or accepted from any resident outside the specific states referenced.Ĭambridge’s Form CRS (Customer Relationship Summary) This communication is strictly intended for individuals residing in the states of AL, CA, FL, GA, KY, MI, MS, NC, OH, SC, TN, TX. Cambridge and Mitcham Financial Services are not affiliated. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/ SIPC.
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