Joint tenancy and your estate plan

Posted by Ravi Gulati | Posted in Financial Planning | Posted on 29-06-2014

0

Bottom line: JTWROS isn’t an easy substitute for proper succession planning.

The only way to ensure your assets are passed on as you intend and properly protected during your lifetime is proper estate planning and an updated will and Powers of Attorney.

Joint tenancy and your estate plan | AdvisorToClient. – Advisor.ca

Follow up on a Change of Beneficiary Designation Important -Repsource

Posted by Ravi Gulati | Posted in Financial Planning | Posted on 01-05-2014

0

Follow up on a Change of Beneficiary Designation Important

The court concluded that Al signed the beneficiary change form in the presence of the broker, that the original copy of the form was sent to the insurer’s agent but had been lost or destroyed in the process. The court said that while Al Cure did not make the necessary changes to the form requested by TransAmerica, this did not affect the validity of the change of beneficiary information.  The court concluded that the change of beneficiary form signed by Al Cure met the requirements of the Insurance Act and it was a valid and binding document.

The lesson from this case is that Al’s failure to follow up on the request by the insurer left the door open for Helen to make an argument that Al did not intend to make the beneficiary designation change.  The facts of the case remind us that when something remains outstanding a follow up with the client should occur in an effort to prevent arguments of this nature.

via Repsource – New & noteworthy.http://tinyurl.com/lpy2sno

Should You Ever Co-Sign a Home Loan?

Posted by Ravi Gulati | Posted in Financial Planning | Posted on 01-05-2014

0

Co-signing a loan is serious business with great repercussions if the borrower defaults on the loan. Make sure you understand what you are getting into before you co-sign.

Should You Ever Co-Sign a Home Loan?.

PERILS OF CO-SIGNING OR GUARANTEEING A LOAN

Posted by Ravi Gulati | Posted in Financial Planning | Posted on 01-05-2014

0

co-signing a debt agreement or providing a loan guarantee can be a great option to help someone in financial need as long as you can afford and understand the risks involved. If you do not feel comfortable with the consequences but still like to help, it may be a better option to offer some upfront monetary help for example – provide or contribute towards down payment instead of tying your feet with same debt chain.

PERILS OF CO-SIGNING OR GUARANTEEING A LOAN.

http://tinyurl.com/nosmcab