At Fountain Professional Group, Inc., we define our success by the results we achieve for our clients. We believe it is our responsibility to educate, inform and empower our clients. We offer estate planning services with “easy to understand” solutions. We focus on estate planning and specialize in charitable gifting. We build trusting relationships by putting our clients interests in front of our own. We believe our clients recognize our efforts and refer us to others who can benefit from our services.
Many people spend more time planning their vacation than planning their estates. Estate planning is the process of anticipating and arranging for the disposal of an estate during a person's life. It is one of the most important steps a person can take. The purpose of estate planning is to prepare to transfer your assets to others upon your death. Estate planning allows you to specify where each of your assets goes upon your death. This involves deciding who the beneficiaries will be, what each will get, and how to perform those transfers with the minimum tax consequences, while making sure that the estate has enough liquidity to meet its obligations.
WHAT ABOUT YOUR HEALTHCARE DECISIONS?
Ask yourself these question's, What will happen if I am incapacitated? Who will make my medical decisions if I cannot? Do I have a DNR (Do Not Resuscitate) order in place? Healthcare decisions can be a difficult time for you and loved ones during your time of need. Did you know that HIPAA states that your Protected Health Information (PHI) cannot be used or shared without your written permission unless HIPAA allows it? This includes a spouse! Proper estate planning should contain your medical powers, up to date HIPAA forms, an appointed medical decision maker on your behalf, and your wishes.
CAN YOU AVOID PROBATE?
Marilyn Monroe Estate value: $819,176 Cost of settlement: $871,176
Elvis Presley Estate value: $10,165,434 Cost of settlement: $7,374,635
The cost of probate may be set by state law or by practice and custom in your community, so it will differ from place to place. When all the costs are tallied, probate can easily cost from 3–7% of the total estate value, and more. The costs may include appraisal costs, personal representative fees, court costs, costs for a type of insurance policy known as a surety bond plus legal and accounting fees.
Our firm will help you identify tax saving strategies that would be appropriate for you situation. These strategies are all IRS approved and are in the IRS Code for use by all US taxpayers. These may involve using tax efficient investments, taking advantage of available deductions, shifting income and charitable giving to name a few. The first step is to understand your financial position, goals and objective. The next step is determine which if any of these strategies will help reduce you tax liability. Once we identify these tax reduction strategies we can work closely with your tax preparer to discuss how to best implement them.
We will help you understand your options when it comes to succession planning strategies for your business.
We will help identify strategies that will help you sell your business or enable your business to continue even after you are gone.
Over the years we have visited with many families who have a desire to provide additional financial support for the charities that they have a passion to support. Most of the time they have been making monthly contributions but always feel like they want to do more. What holds them back is the fear that if they give more they may not have enough income to provide for their current lifestyle.
They have also considered a more substantial gift from their complex assets such as real estate, oil and gas holdings, commodities and business ownership interest to name a few. They again are held back because these assets are more difficult to transfer and they are concerned that they may jeopardize their financial security by giving away too many assets too soon.
This is where Fountain Professional Group can help analyze different planned giving strategies that may help increase giving without risking the family’s lifestyle. We have helped hundreds of families assess their current financial situation. A major part of this assessment is to determine the family’s income needs presently and in the future. We can then help those families determine how they can increase their giving while still maintaining a comfortable lifestyle.
This assessment will also help identify assets that will never be needed or that are not currently productive. We can show how to turn those assets into additional income for the family or to be used to support the charity of their choice. We take advantage of IRS approved strategies to reduce taxes and increase giving. When given the choice most people would rather invest their extra money in their favorite charity then to give it away to the IRS.
Utilizing innovative giving solutions, we can not only help simplify the decision process but we can also show how to structure the efficient transfer of both simple and complex assets.
Call us today to see if we can help you increase your giving, reduce your taxes, and still provide for your family.
Charitable Trust Administration
We provide support before and after creation of Charitable Remainder Trusts and Charitable Lead Trusts and the ongoing administration of these trusts after they have been created.
Fountain Professional Group, Inc. offers over 30 top Life Insurance Carriers for you to contract with. Types of insurance offered is Term Life Insurance, Permanent Life Insurance, Whole Life Coverage, Universal Life Coverage, Variable Life Insurance, and more.
If you want to have a sound financial plan, make sure that you have life insurance in it. Here are some of the top benefits of life insurance:
The biggest benefit of the life insurance is that your family will not face any financial crisis even if you are not there for them tomorrow
Coverage of expenses such as food, clothing, medical help and education
Paying for your funeral and burial costs, debts and other medical costs not covered by health insurance. Average cost of burial expenses come in at $6,000 - $10,000
Life is full of uncertainties. Having a life insurance coverage ensures that you and your loved ones remain intact during the occurrence of anything unforeseen
You can also meet your dreams like children’s quality education, building home, children’s marriage, relaxed retired life, and lots of others
This information is designed to provide a general overview with regard to the subject matter covered and is not state specific. The authors, publisher and host are not providing legal, accounting or specific advice to your situtation.