Michael R. Scotch

Legacy Planning

Proper legacy planning and preservation is a cornerstone of any successful retirement plan and helps ensure that your wishes will be respected and your loved ones taken care of. Legacy planning is a multifaceted process that can be used for a variety of purposes: from helping to preserve your assets for future use to transferring your wealth.

 

Legacy planning requires a coordinated and comprehensive approach that our firm is uniquely positioned to provide. From the conservation of your assets to the transfer of them, comprehensive legacy planning helps ensure that the management of your assets will be dictated by your wishes throughout your life and provide a variety of benefits to you and your family. When they are executed and implemented properly, legacy plans may help reduce family disputes and court bureaucracy, provide effective disability planning, appropriately utilize exemptions to minimize estate taxes, and provide certain asset protection benefits to beneficiaries.

 

There are many strategies and tools that can be utilized to help safeguard your wealth and make sure it is effectively transferred. Gmac Family Financial works with a team of estate planning attorneys to provide a variety of legal documents, such as wills, revocable living trusts, Powers of Attorney, and advanced medical documents, which are beneficial to the legacy planning process. Life insurance, both term and cash value, is another valuable tool to consider because it can be designed to serve several different functions. Life insurance policies can help address the financial harm caused by unexpected sudden deaths of parents of minor children, minimize the wealth destruction of families who may need advanced estate taxation avoidance, or possibly even work as alternative savings or wealth generation tools.

 

Additionally, long-term care insurance helps protect your assets from the devastating costs of long- term care expenses and ensures that you live in reasonable housing during the last stages of your life. These policies provide a diverse range of coverage depending on the style you choose: from more traditional policies to unique hybrid approaches that can generate enhanced long-term care benefits within certain types of life insurance or variable and fixed indexed annuities contracts.

 

Finally, Elder Law planning can help limit the potentially devastating effects long-term disabilities may have on your quality of life, finances, and legacy.

 

 

Help Preserve My Legacy

Maximize Your Social Security

Ever feel that even though you have worked hard all your life, you still worry that you will not be able to live the good life when you retire?

Tax-Free Retirement

Tax planning can have a large impact on the amount of wealth they will be able to transfer to their legacy.

Work with our team on your retirement planning

Contact

Gregg J. MacInnis

 

972-475-2461 | 3705 Lakeview Parkway Suites 203 & 205 | Rowlett, TX 75088

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Disclosure

All written content is for information purposes only. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual advisor prior to implementation. Gmac Family Financial, LLC is not affiliated with or endorsed by The Social Security Administration or any government agency. Exclusive rights to this material belongs to GPS. Unauthorized use of the material is prohibited.