MAY 18, 2008 show
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Topics
The Basics of a Trust - Who Should Have One
How to use a Trust with Life insurance.
What if I don't want my young adult child or teenager to get all the Life insurance proceeds in one lump sum.
Setting up provisions for young children.
Who will care for them if Mom and Dad are gone.
How will our estate pass to them when they are of age.
Insurance In The News:
Have a question or a comment. Call the show. 480-949-1310
Pet Trusts
Special Guest
Larry J. Busch Jr.
Estate Planning attorney
(Live in studio to take your phone calls)
www.ysfi.com
WHO?
Larry J. Busch, Jr. is an attorney whose goal is to help people plan for their business and personal futures, to avoid conflicts and pass along their assets easily and with as little family conflict and government interference as possible. Larry strongly believes that advance planning avoids potential problems, which not only saves his clients huge litigation fees, but also provides peace of mind and an easy transfer of assets to his clients' heirs.
Larry J. Busch, Jr. is the lead attorney for Your Source Legal. Larry focuses his practice on using a wide variety of legal tools to help clients protect their assets while giving them a flexible plan which ensures that their families, charitable organizations, educational institutions, or whomever else they want to benefit will actually receive their gifts.
A graduate of Iowa State University, Larry worked in the corporate communications/public relations field for both private and public entities before earning his law degree from the University of Missouri-Kansas City. Larry is a member of both the Arizona Bar Association and the Missouri Bar, and has always concentrated his practice in estate planning, business law and real estate transactions.
Larry has been married to wife Nancy for 15 years, and they have three fantastic children who keep them busy. Lawson, 10, is an aspiring football player; Connor, 7, loves soccer and tetherball, and their little princess, Dayton, 4, is the singer, animal lover and overall socialite of the bunch. Larry and Nancy recently renewed their wedding vows in Hawai'i, and enjoyed it so much they plan on renewing vows every five years in a different location each time.
WHAT?
The Your Source Family of companies is a dynamic organization dedicated to providing counsel to financially successful families and businesses. Our firm provides direct access to sophisticated expertise, knowledge and services. We create a mutually beneficial relationship with our clients equivalent to what larger firms can provide, but with the ability to remain true to our values of customer service. We strive to create vision, build enthusiasm and cause action in your financial relationships.
Your Way. Your Source. You're Invited.
WHERE?
Your Source Financial 707 E. Northern Avenue Phoenix, AZ 85020
(SE Corner of 7th St. & Northern Ave) P: 602.343.1700 F: 602.343.1710 www.ysfi.com
The Insurance Term of the Week
To help you build your insurance vocabulary and be a more informed insurance consumer
Accelerated death benefit:
A life insurance policy option that provides policy proceeds to insured individuals over their lifetimes, in the event of a terminal illness. This is in lieu of a traditional policy that pays beneficiaries after the insured's death. Such benefits kick in, if the insured becomes terminally ill, needs extreme medical intervention, or must reside in a nursing home. The payments made while the insured is living is deducted from the death benefits paid to the beneficiaries.
Larry's Tip of the Week:
When buying insurance check, with the state department of insurance in the state where you reside. Many of the state departments offer information concerning insurance companies and their rates. The Arizona Department of Insurance provides this information for auto and homeowners insurance.
An independent insurance agent who works with several companies is often a good source to get quotes from several insurers.
Check the financial soundness of the insurance company. Insurance companies are rated by financial rating analysts such as A.M. Best, Standard & Poors, Moody's Investors Services and Weiss Ratings, Inc. This information is available on the Internet and at most public libraries. This information is also available from your agent and the insurance company.
Check the complaint record of any insurer you are considering doing business with. Also check the complaint record of the insurance agent. This information is available from the Department of Insurance in your state.
Once you pay your first insurance premium, make sure the insurance company received the payment and that you are delivered a written policy. This tells you the agent forwarded the premium to the insurance company.
If you don't receive a written policy within 60 days call your agent and the insurance company.
If you suspect fraud you can call your state department of insurance Crime Division or call the National Insurance Crime Bureau at 1-800-835-6422