William Penn Life, 2007 (42. évfolyam, 1-12. szám)
2007-03-01 / 3. szám
MoneywiSe with Mark Lantz Cash needed estate planning Who will provide me with the cash to pay the bills BEING AN EXECUTOR or Executrix is very stressful when there is no cash available. The monthly bills need to be paid: gas, electric, water, telephone, insurance, real estate taxes, etc. Who will provide the cash? The executor may not have the extra cash from their personal accounts. The house must be sold to provide cash, but you need thousands of dollars to put it on the market to get a fair price. Who will provide the cash for the repairs and necessary improvements? The heirs all have their hands out, and they want their share of the cash, now! Settling an estate is a complicated matter, and the executor must pay all the bills and settle the proceeds properly, otherwise, they may be held personally liable. Professionals can help you through this stressful process. Contact your WPA life insurance agent to file the death claim. Do you need a tax advisor and attorney? If you try to settle the estate yourself to save a little money, it may cost you more in the long run. William Penn Association's life insurance plans may help. Life insurance proceeds provide cash fast. The money is paid to the beneficiaries and bypasses probate. This cash will take some of the stress off the executor or executrix. You owe it to yourself and your heirs to review your loved ones' estate plans prior to their death. Keep a list of all the assets in several locations along with your will and other legal documents. Call your WPA agent for assistance in providing for your own life insurance planning. Your loved ones will appreciate your planning. We offer many affordable plans for people of all ages, from 0 to 85. We enjoy serving our members and their family and friends. DON'T FORGET—The WPA is currently paying 5.25% on our 9-Year Surrender Charge Annuities...a great way to cover your own future. Call for details. Mark Lantz, Sales Director, 1-800-848-7366, Ext. 134. THAT’S A QUESTION YOU MAY not have asked yourself very often, if ever. But, it’s one you should ask yourself at least once a year. We can’t stress enough the importance of regularly checking the beneficiaries listed on your life insurance policies. It is the only way to ensure that the people you want to receive the benefits of your life insurance are the ones who will receive it Think about the changes that have occurred in your life since you purchased your life insurance. Getting married, having children, losing a loved one, getting divorced, getting remarried-all these life changes affect your responsibilities. Do the beneficiaries currently listed on your life insurance policies reflect such changes? If you think you need to update the beneficiaries listed on your policies-either primary or secondary beneficiaries-contact your WPA representative. Or, call our Home Office toll-free at I -800-848-7366. William Penn Life, March 2007 5
