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[vc_row top=”20px” bottom=”20px”][vc_column][vc_single_image image=”10815″ img_size=”Full” alignment=”center”][vc_row_inner][vc_column_inner][vc_column_text]By Shawn McCammon

Though it may be hard not to panic when the grocery store shelves are empty, the number of confirmed cases of COVID-19 keeps rising, and we see sobering statistics across the globe…we will not overcome this challenge with a panicked response.

Nonetheless, there are certain things we all need to be doing right now – and your public health officials are the best resource on how to stay personally safe and help prevent the virus from spreading.

When it comes to the seriousness of this outbreak, however, there also are some critical estate planning decisions you should make – or review – right now.

Ask yourself these questions:
Who will make medical decisions for me should I become severely ill and unable to make these decisions myself?

Who will make my financial decisions in that same situation — for example, who will be authorized to sign my income tax return, write checks, or pay my bills online?

Who is authorized to take care of my minor children in the event of my severe illness? What decisions are they authorized to make? How will they absorb the financial burden?

If the unthinkable happens – what arrangements have I made for the care of my minor children, any family members with special needs, my pets, or other vulnerable loved ones?

How will my business continue if I were to become seriously ill and unable to work, even remotely … or in the event of my death?

These are the most personal decisions to make right now to protect yourself and your loved ones during this emergency. Now is also a good time to ask yourself if you have plans in place for the smooth transfer of your assets and preservation of your legacy.

We are ready to help walk you through these decisions, understand the ramifications of your choices, and memorialize your plans in binding legal documents. We are currently offering no-contact, initial conferences remotely if you prefer. Book a call now at: texas-estateplanning.com/book-a-call or call the Christian Financial Advisors® office at (830) 609-6986 to set up a meeting with Shawn.

 

*Estate planning and legal services are provided through McCammon & Murray, PC a separate and unaffiliated legal entity, and not through Christian Financial Advisors® Man-agement. CIS clients are not required to use the services of McCammon & Murray, PC for legal advice. Any legal advice and legal fees earned by Mr. McCammon are not provided or shared with CIS. Attor-neys at McCammon & Murray PC are licensed to provide legal advice in TX and CA only.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row top=”20px” bottom=”20px”][vc_column][vc_column_text]

CHECK OUT THESE OTHER AREAS OF OUR NEWSLETTER

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[vc_row top=”20px” bottom=”20px”][vc_column][vc_single_image image=”7143″ img_size=”Full” alignment=”center”][vc_row_inner][vc_column_inner][vc_column_text]Christian Financial Advisors® now offers corporate trustee services through a strategic relationship with Schwab*. You can protect your family’s financial legacy long after you are gone with a personal trust and appoint a corporate trustee for non-biased and professional management.

What Are Some Benefits of Establishing a Personal Trust?

A personal trust can provide a range of benefits. It can possibly reduce estate taxes and provide liquid assets to help pay for them. It creates a structure and a plan for providing for minor children or family members who are unable to handle financial matters wisely. It can provide a child or grandchild’s education or for an elderly relative, as well as charities that you care about.

Using a corporate trustee provides professional management of your personal assets should you become unable to handle them, or after you are gone, and follows your wishes for how you want your assets distributed.

By appointing a corporate trustee, you allow a professional experienced in the complex matters of managing a personal trust to relieve your family or other heirs from having to handle it all. These duties can include:

 

What Are Some Reasons to Consider Appointing a Corporate Trustee?

Many individuals are unable to successfully carry out the role of a trustee, due to the fiduciary responsibilities and legal knowledge required to maintain a trust.

By naming a corporate trustee, your trust will be managed by trust professionals who have knowledge of, and are willing to assume, the fiduciary responsibility of managing a trust. Also, a corporate trustee has a fiduciary responsibility to legally act in your best interests.

Corporate trustees are regulated by state and federal agencies. Also, most courts consider them experts, and they are held to higher standards than a non professional. They follow your trust instructions objectively which, many times, family members are unable to do because of pressure from other family members to bend the rules of the trust.

Call our office at 830-609-6986 for more information about our corporate trustee program and how it can be integrated with a current trust, or with establishing a new trust.

* Trust services provided through Advisors Private Wealth Trust. Advisors Private Wealth Trust is a corporate trustee offering exclusively for advisors who work with Schwab through a strategic relationship with National Advisors Trust Company, FSB. Advisors Private Wealth Trust is a Trust Representative Office of National Advisors Trust Company, FSB (NATC). Schwab and NATC are separate and unaffiliated companies and are not responsible for each other’s policies and services. Information obtained from Schwab, Inc., member FINRA/SIPC https://www.tdameritrade.com[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row top=”10px” bottom=”10px” bg_color=”#163463″][vc_column][vc_column_text css=”.vc_custom_1495658326310{padding-top: 5px !important;padding-right: 10px !important;padding-bottom: 5px !important;padding-left: 10px !important;}”]

Check out other articles from our MAY/JUNE 2017 Newsletter

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[vc_row top=”20px” bottom=”0px”][vc_column][vc_column_text]Procrastination is, by far, the #1 reason for financial failure. Do not feel alone, as we all procrastinate! It is very easy to put off the things we need to do, especially when it comes to financial matters. We all have limited time and need to prioritize.

Here is a list of 5 important financial areas that should not fall victim to procrastination, as it can be very costly for your family if you do.

1. Estate Planning

How long has it been since you have updated your estate planning documents? Has anything changed over the last 5 years? Don’t have an estate plan consisting of at least a will? Then it is time to schedule an appointment to get it done. Can you imagine what procrastinating about this could do to your family?

2. Risk Management/ Insurance

How long has it been since you have gone over all your policies with an independent insurance advisor to assure you are well covered for the best value? Do you think you are well covered in the event of an accident?

More often than not, we discover that property and casualty insurance was bought on price over adequate coverage. It would be a shame to be in an accident and think you are well covered when you may not be. Procrastination on this one…ouch!

3. Investments

How long has it been since you have had an annual review to make sure you are still on the right path for your specific situation? Are you well positioned for a potential major downturn in the markets, or a major rally to take advantage of the markets? Are you aware of exactly how all of your investments are positioned in old 401ks, 403bs or IRAs? Old brokerage accounts? Could you reposition your CDs or savings to another financial institution for a better rate of return?

Procrastination for very long on this one could mean thousands of dollars in missed gains.

4. Tax Planning

How long has it been since you have gone over all of the potential legal tax strategies you could be using to lower your tax burden with an experienced advisor? Taking a proactive approach towards tax planning if you are a high income earner can make a huge difference. Procrastinating could be costing you thousands of dollars in unneeded taxes. Could you use that money for better causes?

5. Daily Tracking Of Expenses

Do you know where everything is anytime of the day? 90% of the way we pay for ordinary expenses today like groceries, eating out, clothing, gas, etc. is with a debit or credit card. Many of us have multiple bank, investment, and even credit card accounts for personal and business expenditures that we pay off monthly. Fortunately, nearly all financial institutions today allow you to track your spending, investments, and account balances anytime with online access.

You may be old fashioned and say, “I don’t want to look at any of my accounts online,” but hackers do not think that way. If you are not monitoring all your accounts with different institutions daily, how would you know if a hacker got into any of your accounts until it is possibly too late to do anything about it?

With today’s technology, we have a system that you can monitor your accounts with different banks and credit unions, credit cards, and investment accounts (even your 401k) all at the same time on a daily basis! You can see these all on your computer or smartphone at any time of the day.

This system does not allow any money to be moved or transferred, but it is strictly a monitoring system. It keeps track of all your expenses and consolidates them daily so that you will know at anytime what you spent in any budget category for the month. It even lets you know if you have gone over budget.

This incredible monitoring system is offered free for clients of Christian Financial Advisors®. Why do you need it? Because those that know where they are financially do better than most of those who do not.

We can help you accomplish your goals in these 5 areas. Call our office today at (830)609-6986.

 

Check out these other March/April Newsletter topics:

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[vc_row top=”20px” bottom=”20px”][vc_column][vc_single_image image=”6155″ img_size=”Full” alignment=”center”][vc_row_inner][vc_column_inner][vc_column_text]By Bob Barber

Jesus said, “It is more blessed to give than to receive.” Those who plan to leave an inheritance to their family are happy to know that they will be passing on a financial blessing after they are gone. But is an inheritance always a blessing?

Unfortunately, many inheritances are spent nearly overnight. What took parents years of hard work and discipline to earn and save is spent almost as quickly as it is received. Over the years, I have seen inheritances spent on extravagant vacations, new cars, boats, RV’s, and the list goes on. Standards of living are quickly raised under the delusion of new wealth. Then, when the inheritance is exhausted in a short amount of time, the beneficiary is many times in an even worse financial position than before as they try to continue and maintain a new standard of living that is impossible to fund.

A Corporate Trustee is a possible solution for someone who wants to bless their family members with an inheritance, but they want to make sure it is used according to their predetermined guidelines to ensure wise use by their beneficiary. We now offer these services for our clients through Schwab at very reasonable fees. To find out more, contact the office at 830-609-6986.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row top=”10px” bottom=”10px” bg_color=”#163463″][vc_column][vc_column_text css=”.vc_custom_1475772510925{padding-top: 5px !important;padding-right: 10px !important;padding-bottom: 5px !important;padding-left: 10px !important;}”]

Check out other articles from our October 2016 Newsletter

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Is A Financial Crisis Imminent?

[/vc_column_text][vc_single_image image=”6112″ img_size=”full” alignment=”center” onclick=”custom_link” link=”/2016/10/06/is-a-financial-crisis-imminent/”][vc_column_text]Is a future financial crisis imminent? See what Bob has to say about “doomsday” and a future investment strategy.[/vc_column_text][vc_btn title=”LEARN MORE” style=”custom” custom_background=”#163463″ custom_text=”#ffffff” shape=”square” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-arrow-right” link=”url:%2F2016%2F10%2F06%2Fis-a-financial-crisis-imminent%2F|title:Is%20A%20Financial%20Crisis%20Imminent|” add_icon=”true” button_block=”true” css=”.vc_custom_1475776716410{padding-top: 10px !important;}”][/vc_column][vc_column width=”1/3″][vc_column_text css=”.vc_custom_1475776616536{padding-bottom: 10px !important;background-color: #e8e8e8 !important;}”]

Will Oil Prices Increase Again?

[/vc_column_text][vc_single_image image=”6157″ img_size=”full” alignment=”center” onclick=”custom_link” link=”/2016/10/06/will-oil-prices-increase-again/”][vc_column_text]Oil has played a large part in our Texas economy. What does the recent oil boom & recession hold for the future?[/vc_column_text][vc_btn title=”LEARN MORE” style=”custom” custom_background=”#163463″ custom_text=”#ffffff” shape=”square” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-arrow-right” link=”url:%2F2016%2F10%2F06%2Fwill-oil-prices-increase-again%2F|title:Will%20Oil%20Prices%20Increase%20Again|” add_icon=”true” button_block=”true” css=”.vc_custom_1475776632195{padding-top: 10px !important;}”][/vc_column][vc_column width=”1/3″][vc_column_text css=”.vc_custom_1475776541126{padding-bottom: 10px !important;background-color: #e8e8e8 !important;}”]

Corporate Trustees & Estate Planning

[/vc_column_text][vc_single_image image=”6155″ img_size=”full” alignment=”center” onclick=”custom_link” link=”/2016/10/06/corporate-trustees-and-estate-planning/”][vc_column_text]Is inheritance always a blessing? Learn more about setting up your estate plan efficiently when it comes to your beneficiaries.[/vc_column_text][vc_btn title=”LEARN MORE” style=”custom” custom_background=”#163463″ custom_text=”#ffffff” shape=”square” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-arrow-right” link=”url:%2F2016%2F10%2F06%2Fcorporate-trustees-and-estate-planning%2F|title:Corporate%20Trustees%20and%20Estate%20Planning|” add_icon=”true” button_block=”true” css=”.vc_custom_1475776573957{padding-top: 10px !important;}”][/vc_column][/vc_row][vc_row top=”20px” bottom=”10px”][vc_column width=”1/3″][vc_column_text css=”.vc_custom_1475772710345{padding-bottom: 10px !important;background-color: #e8e8e8 !important;}”]

Your Family Legacy. Preserved.

[/vc_column_text][vc_single_image image=”6162″ img_size=”full” alignment=”center” onclick=”custom_link” link=”/2016/10/06/your-family-legacy-preserved/”][vc_column_text]CIS has collaborated with FamilyArc, an online family data history storage website, in order to better preserve your legacy![/vc_column_text][vc_btn title=”LEARN MORE” style=”custom” custom_background=”#163463″ custom_text=”#ffffff” shape=”square” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-arrow-right” link=”url:%2F2016%2F10%2F06%2Fyour-family-legacy-preserved%2F|title:FamilyArc%20Websites|” add_icon=”true” button_block=”true” css=”.vc_custom_1475772742248{padding-top: 10px !important;}”][/vc_column][vc_column width=”1/3″][vc_column_text css=”.vc_custom_1475772615665{padding-bottom: 10px !important;background-color: #e8e8e8 !important;}”]

Why Being A CIS Client is Pawesome!

[/vc_column_text][vc_single_image image=”6015″ img_size=”full” alignment=”center” onclick=”custom_link” link=”/2016/10/06/athenas-tips-and-tricks-on-why-being-a-cis-client-is-pawesome/”][vc_column_text]See what advice, tips, and tricks Athena has to talk about this month when it comes to finance and Christian Financial Advisors®![/vc_column_text][vc_btn title=”LEARN MORE” style=”custom” custom_background=”#163463″ custom_text=”#ffffff” shape=”square” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-arrow-right” link=”url:%2F2016%2F10%2F06%2Fathenas-tips-and-tricks-on-why-being-a-cis-client-is-pawesome%2F|title:Financial%20tips%20and%20tricks%20from%20Athena|” add_icon=”true” button_block=”true” css=”.vc_custom_1475772647268{padding-top: 10px !important;}”][/vc_column][vc_column width=”1/3″][/vc_column][/vc_row]

As you get closer to the finish line of life, it’s important to start thinking about your wealth distribution in three different ways. (more…)

It is estimated by many sources, that for the last few years approximately 10,000 Baby Boomers are retiring daily in our country. This is expected to continue for at least the next ten years. (more…)

Acts 20:35

In everything I did, I showed you that by this kind of hard work we must help the weak, remembering the words the Lord Jesus himself said: ‘It is more blessed to give than to receive.’

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Acts 20:35

In everything I did, I showed you that by this kind of hard work we must help the weak, remembering the words the Lord Jesus himself said: ‘It is more blessed to give than to receive.’

(more…)

This will be the last and final part on Heritage Planning.   Last week we covered the first 6 of the 12 Elements of Preserving Family Wealth.  I would invite you to go back and read the first 6 elements if you missed last week.  Today I will cover elements 7-12.

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My last two blogs have been on Heritage Planning and last week we looked at some thought provoking questions to consider. This week we will cover the first 6 of the 12 Elements of Preserving Family Wealth.

(more…)