Family moments.

Here’s What a Trust Is and Why You Might Need One

The legal rights of property ownership and control rest with the trustee, who then has the responsibility of managing the property as directed by the grantor in the trust document for the ultimate benefit of the trust beneficiary.

A trust can be a living trust, which takes effect during the lifetime of the grantor, or it can be a testamentary trust, which is created by the will and does not become operative until death.

In addition, a trust can be a revocable trust, meaning that the grantor retains the right to terminate the trust during lifetime and recover the trust assets, or it can be an irrevocable trust, meaning that the grantor cannot change or terminate the trust or recover assets transferred to the trust.

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6 Reasons for Life Insurance When You Retire

First, the basics. If you still owe someone, or love someone, yes, you need life insurance.

Now, let’s dig a little deeper and look at the other reasons you may still need life insurance after 65.

1. You’re still the “Bank of You.” 63% of parents over 55 are still supporting their children and or grandchildren, according to LIMRA Secure Retirement Institute. What happens if you are no longer around to provide that support? Who will your children turn to for financial help? Friends or other family members? Life insurance can provide the funds to maintain this support.

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5 Things You Didn’t Know Life Insurance Could Do

Permanent life insurance provides lifelong protection, as long as you pay the premiums. Because it is designed to last a lifetime, permanent life insurance generally accumulates cash value. That means there are some important living benefits to permanent life insurance, benefits you can take advantage of to fund life’s possibilities.

Here are five things you probably didn’t know you could do with permanent life insurance.

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Keeping Your Small Business in Business Through a Disability

If you own a business, you know how it feels to live for that business. You also rely on it to support you and your family. So, what would happen if you suddenly became ill or injured and could no longer work? You need to think about the what-ifs.

The fact is, your loved ones may not have the skills or desire to run the business, and your co-owners may not welcome the idea of an unintended partner. Also, imagine the scenario where it is one of your co-owners who becomes permanently disabled and you’re faced with those choices.

That’s where a disability buy-sell plan comes in to play. This is an agreement among owners to buy out a co-owner’s share of the business in the event of a permanent disability. Here are four options for funding that agreement:

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