Broker Check

COMING SOON - NEW Bluffton Location

117 E Elm Street

Bluffton, OH 45817

APRIL 2020 – “IN CASE I DIE”

Dear Clients,

A decade ago, Faith Investment Services took on a challenge that was huge, had results that were long and far-lasting, and sensed God’s strong presence over an event. And then we never duplicated it. Ha!

The event was a full-day “In Case I Die” seminar, held at Cable Road Alliance Church. It stretched us, to be honest. We organized the event, collaborated with other professionals, and spoke about how to prepare for everyone’s inevitable death. The title “In Case I Die” is a little tongue-in-cheek because of course we will all eventually die, if the Lord doesn’t return first. But somehow, we give our death and the impact it has on our loved ones very little thought or planning—as if we might somehow dodge death by ignoring it!

Our staff has such fond memories of the seminar. We made some really great friends at that event, who are valued clients today. We formed a strategic relationship with a local attorney whom we feel very comfortable referring folks to when they have a need. We had a current staff member help us host the event, even though she wasn’t on staff at that point. Relationships were formed out of an “ordinary” event!

The great news is — we are planning a ‘resurrection’ of the “In Case I Die” seminar. (THIS EVENT HAS BEEN POSTPONED UNTIL FURTHER NOTICE! We hope to reschedule at a later date. Please keep an eye out for details in the future...) This will be a very practical workshop that will help you plan for your eventual death in a way that helps your loved ones carry on. We will talk about life insurance, how income is impacted upon death (Social Security, investments, and other sources), living wills and other documents that help you state your wishes if incapacitated prior to death, long-term care, leaving a legacy, having your paperwork in order, tax implications, and other pertinent topics. We will give you tools to talk with your loved ones about your current situation and what your wishes are.

This event will cost $20 (additional $5 for spouse or guest to help cover lunch) and will include handouts, lunch, and refreshments. This is RSVP only and we will limit the seminar to the first 80 people who sign up.

What do you need to know “in case” you die? What does your family need to know after you are gone? How can you plan ahead to ease the burden on everyone involved?

If you love your spouse or family, and I know you do, wouldn’t you be willing to take a day to get your affairs in order—to protect and bless them?

SEND US YOUR NEWS!!

Have things changed for you — new home, new phone number or email, new child, family changes? Do you need to change your beneficiaries? Please take a moment and email rzimmerman@cfdinvestments.com. We may simply need to update our files, but certain types of information should also be reported to the companies who hold your investments. Let us help you stay up-to-date! If you are new to this mailing, we welcome you! If you don’t wish to receive it, you can email the address above to opt out.  

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IN CASE I DIE

WHO IS IN CHARGE?

As most of us travel through life, we utilize experts to help with various aspects of life. A car mechanic, an attorney, a financial adviser, an appliance repairman, etc. In the financial realm, the list of experts often includes:

  • Financial adviser
  • Attorney
  • Tax preparer or accountant
  • Life Insurance agent
  • Property & Casualty agent

It can be very good to have someone help you “quarterback” this situation. Instead of having everyone compartmentalized and doing their own thing, it is important to be sure that all of the financial matters work together to protect and prosper you. The “In Case I Die” workshop will give you insight into ways to put all of this together. We regularly consider a client’s total picture and work together with their attorneys, accountants, and so forth as needed. YOU are in charge and we can help!

 

WHY DOES IT MATTER?

As you age and approach death, it is important to clearly communicate to your spouse, your children, or other heirs. They need to know what assets you have, how they are set up, whether they are tax-qualified or have already had taxes paid on them, where to locate the accounts or documents, and if there is any special provisions that are triggered at disability or death. They also need to know what your wishes are regarding the assets. Do you have a will or trust? Is there any charitable provision in your will or does everything go to heirs? What happens if you cannot handle your affairs at some point? Is there a power of attorney in place? What happens if healthcare decisions need to be made on your behalf?

 

WHAT CAN I DO?

There are things you can do to make the transfer of assets easier. It is important to have up-to-date beneficiaries on all investment accounts. You can put transfer-on-death (TOD) or payable-on-death (POD) designations on any titled assets. You can talk ahead of time to a trusted attorney to express your wishes and be sure that your will reflects those wishes.

You can pre-pay for funeral expenses or pre-plan (even if you don’t pre-pay) to ease the stress that loved ones experience in the early days after your death. Sometimes just writing down a song or scripture verse for your service or making a list of which children get which sentimental items can really help.

 

HOW MUCH DOES LIFE INSURANCE REALLY HELP?

There are many different kinds of life insurance and they serve different purposes. Term life insurance (cheaper insurance that usually only lasts for a specific period of time) is an inexpensive way to protect your family when you are younger and still working. It can be used for income replacement, burial, or simply to provide emergency assistance in the early years. It does not build up any cash value, can’t be borrowed against, and usually doesn’t have any terminal illness or long-term care benefits. Whole life insurance has cash value, is more costly to obtain, and can have some provisions that help in the later years of life. One of these provisions is a long-term care rider that provides benefits for in-home or skilled care. It depends on each specific policy and we can help you review what you have and see what features it offers. Knowing whether your family will have any life insurance proceeds upon your death is very helpful for planning purposes.

 

WHAT ARE SOME PRACTICAL STEPS TO TAKE?

Some practical ways to help your family face the inevitability of your death include:

  • Downsizing
  • Getting all of your paperwork and information together in one, easy to access place (including contracts, passwords, statements, deeds, titles, insurance policies, etc.)
  • Talk to your spouse and children. Don’t keep silent. Tell them “where and how and why” as much as you can!
  • Enlist help if you aren’t able to tackle some of these tasks. Find someone you can trust if family is unavailable.
  • Consider home modifications that give safety and security for reduced mobility in aging.

 

WHAT ABOUT NURSING HOMES AND LONG-TERM CARE? According to Dept of Health and Human Services at www.aspe.hhs.gov

  • 23 percent of those who die between ages 65 and 74 receive any paid long-term care and only 9 percent receive long-term nursing home care. For those who survive to age 85, it increases to 54 percent receiving some paid long-term care and 34 percent receiving long-term nursing home care.
  • It is estimated that 75 percent of 65-year-old women develop severe long-term care needs before they die, compared with 64 percent of their male counterparts; 55 percent of women and 38 percent of men receive some paid long-term care over their lifetime.

 

WHAT LEGAL DOCUMENTS SHOULD I HAVE PREPARED?

  • Will or trust. Please be sure that you understand what you are signing and why. This isn’t a cookie-cutter decision! There are a lot of Medicaid-avoidance trusts being written that are ill-advised and potentially unnecessary. Utilize your entire financial team to help make these decisions.
  • Durable power of attorney. This lets someone you trust make business and financial decisions for you, should you become incapacitated.
  • Beneficiary designations. These tell the asset holder who should become the new owner in the case of your death.
  • Letter of intent. This can be written to your executor, guardian, or family members, helping them understand your wishes.
  • Healthcare power of attorney. This lets someone make medical decisions for you, in the event that you cannot.
  • Guardianship designations. This is part of a typical will and it determines who will provide care and support to your minor children or wards.
  • Living will. A living will is a document that lets people state their wishes for end-of-life medical care, in case they become unable to communicate their decisions.

 

WHO HELPS EXECUTE MY WISHES?

When you plan ahead for your inevitable death, you have much more say in how your affairs are handled after death. This isn’t selfish — it is prudent. You can choose an executor (named in a will) to handle your assets and distribute them as you choose. You can name a guardian for your minor children and decide ahead of time who you want to have care for them. You can name a trustee (if you have a trust in place or create a testamentary trust through your will) to hold money or other assets “in trust” for minor children, family members who might be better off with a gradual inheritance rather than a sudden one, and so forth. The more you prepare in advance, the more you can ease the burden for your loved ones and do what is best for them.

 

 


HOW DO I SIGN UP TO ATTEND THIS EVENT?  (THIS EVENT HAS BEEN POSTPONED UNTIL FURTHER NOTICE! We hope to reschedule at a later date. Please keep an eye out for details in the future...)

Please go to www.myfaithinvestments.com/events to sign up. You can enter your information, include a guest (one or more!) and those seats will be reserved for you. The cost is $20 and $5 for each guest payable at the door. Lunch and snacks are provided. WE CANNOT ACCEPT CASH because of securities regulations, so please bring a check or money order written to Creative Financial Designs.

 

WHO IS THIS DESIGNED FOR?

The attendees who will benefit the most include:

  • Individuals and couples 50+
  • Parents and their adult children of any age, attending together
  • Those who are ready to listen and take baby steps of action

 

WHAT IF I CANNOT ATTEND?

At this time, we don’t plan to record the event or broadcast it because of regulatory issues. We do have clients in over 15 states and regularly communicate with them via face-to-face appointments (local), phone, email, and/or Skype. If you want to have a custom conversation relating to your specific situation, we would be glad to schedule an appointment with you.

 

MAKE PLANS TO JOIN US when we reschedule! IF YOU LIVE TOO FAR AWAY,  CONSIDER MAKING AN APPOINTMENT.

 Contact Gary Reese (419) 358-4207 or gary.reese@cfdinvestments.com


I Googled my broken ankle and three clicks later, I was clinically dead!