Looking at all the options of topics that I could start with, I have chosen to start by discussing, briefly how to keep what is yours. Don't worry, I will go into more detail on these different topics as we go on, but for now, let me introduce you to the 4 Antagonists who want what you have, with no consideration, in the end, to you or your family's or your Business's welfare. The Four Culprits are:
1. TAXES. The Tax man is consistently holding his hand out for more and more taxes, and there are more and more taxes every year, sometimes, every day. Such as, today is November first of 2017. Today, in California, an increase in our Gas Taxes takes place, adding Twelve Cents tax per Gallon. Twelve Cents in One day! This is not even considering the Estate Tax, Income Tax, Sales Tax, Capital gains Tax, Vehicle tax, Telephone taxes, Energy taxes and a plethora of other Taxes that we are expected to pay, without question. Well, maybe we need to start questioning!
2. CREDITORS We live in a Litigious Society. It seems that there are more people out there that want "Something for Nothing", they want our "Stuff" it seems as much as, if not more than we do. People are suing because they know that even if we, who they are suing, have done nothing wrong, the insurance companies will pay off, just to be rid of the nuisance. There are those who are organized and prepared to sue for nonsensical issues, because they know we will settle, rather than go to court. I have seen correspondence from thee type of Plaintiffs where they admit that this is what they are doing. It may be time to make our assets "Creditor Proof".
3. UNWANTED RELATIVES In the last several years I have had multiple times where unknown relatives have ended up with part of an estate, even when there was a surviving spouse! This is not right. It is definitely not what they would have wanted if they had property prepared estate documents - a Trust or a Will or something, that would have legally shown what their desires for their estate would be. But they did not. Having properly prepared, funded estate documents is essential to keep what you have with your family, instead of with strangers.
4 THE STATE In my opinion, the State of California has one of the best Long Term Care programs in the nation. They give simple, easy and inexpensive ways to protect your assets from Spend Down, keep them from taking your house for recovery after they have helped the family with the high and impossible costs of Skilled Nursing Living. Yet, many people are still losing their houses and becoming broke just to qualify for Medi-Cal Benefits. Its time to realize, you don't have to lose your assets and home to gets some help from the State
These four aggressors are willing to take what you have if you let them. But in the end, it is your choice of whether you keep what is yours, or if you give it away. In a nutshell, prepare yourself now by learning how to protect your assets from those who want them. We will discuss more specifics on these topics as we continue these posts.