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How does FamilyGuard360 protect my Family?
FamilyGuard360: Elevates Your Family’s Security.
FamilyGuard360 offers a holistic approach to protection, integrating legal and financial tools that work together seamlessly
Having Life Insurance with Living Benefits and Will & Trust provides comprehensive protection for your family, financial security, and peace of mind. Here’s how the protection works:
Life Insurance with Living Benefits
Imagine an insurance that offers financial protection for your loved ones while also providing access to funds if you experience certain critical, chronic, or terminal illnesses.
Why You Need It ?
- Financial Security for Your Family: In the event of your death, the death benefit provides funds to cover expenses, replace income, and maintain their standard of living
- Living Benefits: Provides access to part of the death benefit while you’re still alive but diagnosed with:
- Critical Illness (e.g., heart attack, cancer, stroke).
- Chronic Illness (e.g., inability to perform daily activities like bathing or dressing).
- Terminal Illness (e.g., diagnosed with a life expectancy of 12 months or less).
- Avoids Financial Strain: Helps cover medical bills, long-term care costs, or lost income without depleting your savings
- Legacy Planning: Ensures your family inherits a financial safety net even after your lifetime.
Purpose of Will & Trust
Will
A Will is a legal document that ensures your wishes are followed regarding your wealth, health decisions, and the care of your children. Its key purposes include:
- Managing Financial Wealth: Clearly states how your assets, such as money, property, and investments, are distributed after your passing. Health and HIPAA Authorization: Empowers trusted individuals to access your medical records and make important health-related decisions on your behalf.
- Protecting Children: Ensures your children are cared for by a guardian of your choice. In some states, if the mother is absent, children may not automatically go to the father without proper legal documentation.
- States Requiring Legal Steps for Fathers: Examples include California, New York, Florida, and Texas, where additional legal procedures are required for guardianship if not clarified in a Will.
A Will gives you peace of mind, ensuring that your family, children, and final wishes are protected and respected.
Trust
A Trust is a legal tool designed to manage and protect your assets during your lifetime and after. It serves as the foundation of financial security and estate planning.
- Avoids Probate: A Trust bypasses the often lengthy and expensive probate process, ensuring your family receives your assets more quickly and without unnecessary legal delays.
- Holds Financial Instruments: Includes assets such as real estate, investments, savings, and life insurance policies.
- Debt Protection: Shields your family from the burden of unpaid debts by efficiently managing financial responsibilities.
- Estate Planning and Tax Savings: Minimizes taxes on your estate, allowing more of your wealth to go to your loved ones.
- Enforces the Right Purpose: Allows you to set specific conditions for how and when your assets are used, ensuring they align with your long-term goals, such as funding education, supporting children, or charitable donations.
- Guaranteed Financial Support: Provides your family with reliable funds during challenging times, such as income loss or emergencies.
A Trust helps maintain financial control, protect your legacy, and ensure your family's well-being.
Why Both Will & Trust Are Essential
Together, a Will and a Trust create a comprehensive plan to safeguard your family and your legacy:
Will: Covers personal wishes, guardianship of children, and asset distribution.
Trust: Avoids probate, saves taxes, ensures financial security, and enforces the proper use of assets over time.
By having both in place, you:
- Protect your family from unnecessary legal challenges.
- Save time and money by avoiding probate and reducing tax burdens.
- Secure your wealth for future generations, ensuring it’s used responsibly and according to your wishes.
FamilyGuard360 offers the guidance you need to create a comprehensive Will and Trust, providing complete protection for you, your loved ones, and your financial future.
At FamilyGuard360, we are committed to excellence in everything we do. Our mission is to empower families with the tools they need to create a secure and comfortable living environment.
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