Families Often Overlook Final Expenses:
Travel Expenses
Many seniors live in different cities or states than their children. Has your family planned for the high costs of traveling that comes with the passing of a loved one? The cost of traveling, possible hotel stays, car rentals, and dining may add several hundred or thousands of dollars to the equation.
The Home
In many cases the children may want to sell their parent's house when they pass away. Has your family considered the high costs that come along with maintaining the home until it sells? Are there repairs that need to be made? Is there a mortgage? How about property taxes? Is your family prepared?
Fees
Attorney fees, accountant fees, probate, taxes, bank fees, brokerage fees, and account surrender penalties must also be taken into consideration when a loved one passes away. Is your family prepared for these types of fees?
Funeral Expense
Funeral expenses can put a family in a huge financial bind. The average cost of a funeral is $8,500. This does not include potential gatherings and receptions before and after the funeral.
Debt
Credit cards, medical bills, loans such as car, student, and mortgage. Probate, long-term care bills, cleaning and moving bills. Theses types of fees can add up quickly. Is your family prepared?
Loss of Work
Many children forget to factor in the amount of work they will lose when a parent passes away. Children often experience situations where expenses increase and income decreases.
How Will Your Family Pay For These Expenses?
Where will the liquid cash come from?
How much cash is truly liquid? Are there fees to use it? Is the Broker or Financial Advisor going to require a fee? Do I have to wait 30 days to access it?
Where Is The Money Being Held?
Regular Life Insurance
Regular Life Insurance
Regular Life Insurance
Requires the family to produce a death certificate.
Annuities
Regular Life Insurance
Regular Life Insurance
Requires the family to produce a death certificate.
Money At The Bank
Regular Life Insurance
Kids Are Joint Owners
Requires the family to produce a death certificate..
Kids Are Joint Owners
Kids Are Joint Owners
Kids Are Joint Owners
Open to claims of creditors, divorce, lawsuits, taxes, etc...
Brokerage Accounts
Kids Are Joint Owners
Brokerage Accounts
Requires the family to produce a death certificate.
Prepaid Funeral
Kids Are Joint Owners
Brokerage Accounts
Usually not enough to cover the entire funeral and does not cover other expenses.
Estate Trust With Final Expense Coverage:
Single Premium Deposit.
Up To $100,000 Of Final Expense Coverage.
Guaranteed Issue To Age 99.
Funds Are Liquid And Available At Owner's Death.
Do Not Need To Produce A Death Certificate.
The Probability Of Maintaining Funds For Final Expenses Increases 10X!
Avoids Probate, Free From The Claims Of Creditors, And Lawsuit Protected.
Peace Of Mind!