In addition to being fully licensed, our agents are specially trained in areas of Financial Planning and Estate Planning. Many also carry professional certifications and/or degrees. AIN can help people in the areas of:
In addition, we specialize in helping:
The purpose of insurance is to offer an affordable way to protect
oneself
from a potentially catastrophic financial loss due to some unexpected event. Being adequately insured
is the smartest way to avoid disaster if you become sick, disabled or die prematurely. However, as
important as it is to have adequate insurance, it is also possible to be over-insured. Sound Insurance
Planning is not about "buying more," it is about having the right balance. Too much insurance in one
area not only wastes precious resources, it frequently deprives a person of necessary coverage in
another area. Our AIN professionals can help with that delicate balance.
Insurance coverage is broken down into two broad categories:
Most people who work, one day envision they will retire and live life at
a more
relaxed pace, without the pressure of a "9 to 5" daily schedule. Unfortunately, an estimated 98% of
Americans are not financially prepared to retire and live the way they'd thought. Sound financial
planning is really two processes: Retirement Planning and Estate Planning. Planning for
the money that WILL be spent during that person's lifetime is Retirement Planing. Estate Planning is the money that WILL
NOT be spent during a person's lifetime (hence passed on to the next generation through inheritance).
Retirement planning is becoming increasingly crucial in today's market, even if you are already retired. Unfortunately, the vast majority of Americans confuse Retirement Planning with "Wealth Accumulation." There is an unfortunate misconception prevalent in the financial services community that "growth is everything and more growth is better than less growth." While nobody would argue that growth is good, being a slave to accumulation alone is not planning. The following should also be included in the equation:
Whether you are already retired or are looking toward planning your retirement, you will benefit from talking to a knowledgeable planner. Every agent at AIN is trained and/or certified in the area of strategic financial planning. Let us show you how you can:
This, the other half of "Financial Planning" is about the transfer of
assets
from
you to someone else, either during your life ("inter vivo") or after your passing ("testamentary").
Unfortunately, too few people really understand the impact of good vs. poor planning in this area.
There are actually three levels of Estate Planning:
Asset preservation
is concerned with minimizing loss at transfer due to Estate an Inheritance taxes
and/or Probate.
The laws regarding Federal Estate and State Inheritance tax are very complex. Sometimes called "death taxes" this term is a misnomer. Actually, these two taxes are transfer taxes and the tax code recognizes five different versions: Gift tax, Federal Estate tax, State Inheritance tax, Generation Skipping Transfer tax and Step-up in Basis (for Capital Gain tax). Recent proposals to "eliminate the death tax" are nothing more than means of shifting the bulk of transfer tax from one side of this arena to another and the end result is that while some people will benefit, others will be harmed. Rather than assume that some future action by Congress will make your tax liability "go away", take action to plan for yourself. Good planning can reduce or eliminate exposure to these taxes and thereby save your heirs the horror of seeing what they thought was their inheritance disappearing into the coffers of the IRS.
Probate is another source of estate erosion. Probate is the legal process of settling estate ownership and transfer. Amazingly, many people believe that a will expedites this process, but actually it invites it. A will is the decedent's requests to the Probate Court. The problem with probate is that it costs time and money, it is a public affair and the beneficiaries are the last to receive proceeds rather than the first. Good planning can reduce or eliminate exposure to Probate so your assets are transferred to the heirs efficiently and privately.
Asset Protection
is concerned with minimizing exposure to loss from any unexpected event, be it loss of
principal in an account, an uninsured loss, litigation, or creditor action. People can't know the
future or what events will transpire to create financial burdens. Assuming that because nothing bad has
"happened yet", ignores an important reality - and risks the financial well-being of an estate. Sound
planning can protect the estate from loss due to these events. Depending on your situation it is
possible to:
Asset Leveraging
Where over 90% of all traditional estate planning stops with the first two planning
objectives (preservation and protection), asset leveraging is by far the most exciting. Leveraging is
the immediate and often substantial increase in net worth. One of the most common forms of leveraging, but
certainly not the only one is through the use of life insurance (see article on Life
Insurance Planning). Leveraging can accomplish two things:
Talk to an AIN representative near you to discover solutions to your financial needs.