4 Steps to Financial Security for Lesbian and Gay Couples: Expert Advice for Reducing Your Tax Burden, Increasing Your Wealth, and Protecting Each Other

By Harold L. Lustig

The 1st monetary consultant adapted solely TO LESBIAN AND homosexual ON easy methods to shield THEIR resources while legislation FAIL

Lesbian and homosexual can in achieving strong, long term monetary security--but they should arm themselves with foresight, wisdom, and proof. That's what this e-book is all approximately. Now, drawing on greater than twenty years' event as a monetary adviser to lesbian and homosexual undefined, Harold L. Lustig has written the definitive monetary advisor for you and your partner.

Through Lustig's 4 easy-to-follow steps to financial security--PLAN, PLAN, PLAN; guard WHAT'S YOURS; imagine neighborhood; USE NON-CONVENTIONAL knowledge AND TAKE ACTION--this important ebook supplies attainable monetary ideas and up to date details on

- property planning--why it's specially very important for you and your enjoyed one
- Tax benefits to be had to you--and to not legally famous couples
- lowering your tax load via charitable contributions and transferring assets
- A household associate agreement--why it truly is serious in your monetary well-being
- fending off the "gay penalty" on long term healthiness care and retirement plans
- advice for investment a faculty education--without losing into the red
- Reentering the task industry if you are HIV positive
- deciding to buy and fine-tuning incapacity insurance
- The proof approximately joint ownership
And a lot more!

Despite damaging legislation, you could shield your resources, offer for retirement, keep away from discriminatory consequences, and make sure that you simply and your accomplice take pleasure in and proportion what you've earned jointly. From construction and moving wealth with lifestyles coverage to making records that shield you while marital legislation don't, this transparent, clever, useful consultant offers the basic monetary info that each lesbian and homosexual couple wishes and merits.

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You (or your retained dealer) should still examine your whole choices to figure out which most accurately fits your wishes. one of many possible choices is so as to add an speeded up demise profit (ADB) rider in your lifestyles insurance plans. The ADB rider helps you to obtain a fee on your assurance from the assurance corporation instead of via a viatical cost. the volume of cost is usually among 50 and 100% of the face worth, based upon the corporate and the specifics of the rider. a few businesses upload the rider loose, others cost. sped up loss of life merits are typically even more restrictive than viatication. generally, you can't speed up your coverage except your existence expectancy is classified to be under a 12 months (in many instances, under six months). however the virtue is that you're frequently allowed to take care of the rest component to the coverage which has now not been sped up in your heir(s) and which may then be viaticated. within the correct scenario, the ADB cost should be higher than a viatical payment for the subsequent purposes: ADB riders pay swifter than viatical settlements. simply because existence insurance firms are hugely regulated, they have to keep privateness and pay on time. Viatical settlements are just paid to a terminally ailing individual, yet a few ADB riders pays for different scientific wishes resembling non-stop lifestyles help, long term care, or organ transplants. With an ADB rider you could keep a part of the coverage on your heir(s), or to viaticate, if wanted. ADB riders pay a acknowledged volume in line with the rider, whereas viatical settlements may be seriously discounted and are negotiable. due to the fact ADB funds usually are not an funding, the coverage corporation needn't be sure while you're nonetheless alive and there'll be no monitoring. while you're procuring a existence insurance coverage and your dealer doesn’t point out the ADB rider, ask approximately it. Many agents aren't even acutely aware it exists. a few coverage agents won’t point out it simply because there is not any funds to be made. Ask! in case your dealer or agent can’t provide you with a immediately solution, locate one other dealer or agent. in the event that your assurance dealer recommends that you simply viaticate the insurance plans that she or he bought you with out totally disclosing the fee, run, don’t stroll, to the closest go out. Many insurance firms reflect on this an unethical perform and may terminate the broker’s agreement. Unethical agents would possibly not point out the ADB rider simply because they wish to obtain a rate for the advent of the insured to the viatical payment corporation. (New York forbids viatical companies from paying charges or commissions to anyone who offers scientific, criminal, or monetary prone to the viator. ) while you're contemplating viaticating a coverage, ask the assurance corporation if it is going to upload the ADB rider to an present coverage sooner than you viaticate. a few businesses will do that. There are 5 different recommendations to contemplate prior to viaticating all your assurance: when you have an everlasting policy—variable, common, or complete life—consider utilizing the money price within the coverage as a mortgage.

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