My wife and I recently celebrated the birth of our first child, so it felt appropriate and timely to discuss some of the financial planning issues related to growing a family. As you prepare for life with your new child, it is time to prepare a new financial plan for your family or make any […]
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Tax Planning Tips: Disability Insurance
The income you receive from disability income insurance may or may not be taxable. The taxability of disability income insurance benefits depends on what type of benefits you receive, whether the premiums were paid with pretax or after-tax dollars, and who paid the premiums (you or your employer). INDIVIDUAL DISABILITY INCOME INSURANCE The rules surrounding taxation […]
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Asset Protection in Estate Planning
You’re beginning to accumulate substantial wealth, but you worry about protecting it from future potential creditors. Whether your concern is for your personal assets or your business, various tools exist to keep your property safe from tax collectors, accident victims, health-care providers, credit card issuers, business creditors, and creditors of others. To insulate your property […]