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Strategic Planning
Essential Questions:
- What defines a “successful” transfer of wealth?
- What can I do to grow and protect the wealth I pass on “for” my family and protect the wealth “from” the family?
- What difference will my wealth make in the lives of my family? Will my values be passed on and influence how the wealth is used?
- How do I implement a plan for perpetuity that reflects my values, ideology and attributes of being a successful person?
- When I am presented with the help and knowledge to implement a plan, how do I get beyond what should be done and what could be done and go forward?
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Steps to Estate Planning
The natural progression of estate planning starts with the question, “How can I control my property while I am alive and well and care for myself and my loved ones when I become incapacitated?”
Then it progresses to, “How can I save every last tax dollar possible while minimizing professional fees and court costs?”
Historically, estate planning has been about little more than planning for death and taxes. However, at the highest level of progression, estate planning that is motivated by love for family, friends and important causes has the power to create a legacy for your descendants that will actually help them become better human beings.
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Fundamental Estate Planning
Up to this point you have not been told anything new. There are many estate planning strategies that claim to solve these issues but they all have failings. There are two main issues that keep people from utilizing these estate strategies.
1) You don’t know how much money you can safely give away or lose control of because you don’t know how long you will live and you don’t know what unforeseen expenses you may have (medical etc….)
2) You have worked and carefully saved for your entire life and you don’t want to give up control of those assets to be squandered away by a generation that doesn’t embrace those same values.
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Epic Group can allow you to unlock an asset that you are not currently using and allow you to capitalize on it and turn it into a significant financial asset outside of your estate. This new asset will cover your expenses still allowing you to keep and control the assets you have worked so hard for.
THE ASSET – Your Insurance Capacity
THE TOOL – Premium Financed Life Insurance
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