How Can American Investment Planners LLC Help You With Estate Planning?

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

As one of the nation's most respected independent financial planning firms, the professionals here at American Investment Planners LLC know exactly what it takes to ensure that all clients have a successful financial future - especially when it comes to estate planning. And considering that we believe estate planning is one of the most important aspects of financial planning, it seems only right that our experts place much of their focus on this topic on a daily basis.

So how do we help?

When you partner with us to take care of all estate planning needs, we'll carry you through a multi-step process that starts with you choosing your beneficiaries, explaining your needs and determining your goals and objectives. Then, we'll do the rest! Here is a brief breakdown of how it all works:

1. First, a member of our team will meet with you to discuss your current financial situation, your current family situation and your goals for the future.
2. Second, we'll gather the necessary personal and financial information that we are still without following the first conversation. For example, we will need to learn what assets and liabilities you have, as well as gain knowledge about items such as your current financial plan.
3. The third step is all on us - the planning. Taking all of the facts into account, we'll draft a plan that ensures you and your family are well taken care of for generations to come. At this point, we'll meet with Life Insurance Specialists and Accountants to review the data we've gathered. Note: While we're busy at work, we encourage you to meet with your attorney and create a will and/or trust. 
4. Once a plan is created, we'll meet with you again to discuss all of the details needed to implement it properly. Then, upon agreement, we'll begin to monitor your plan and make any adjustments as needed down the road.

Although estate planning may seem rather complex, you can rest assured knowing that it will be a seamless process when you work with American Investment Planners LLC. Our team has years of experience with clients around the country, making us 110% capable of helping you next. 

For more information about our financial planning services and how you can get started on your estate plan with us, please visit our website or call (516) 932-5130.

Meet Marguerite Maldari: Client Services Manager

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

At American Investment Planners LLC, we work as a cohesive unit to develop and deliver the most beneficial solutions to each of our clients. We pride ourselves on the fact that our firm is built on a group effort, and since it is so, we invite you to become a part of our team by getting to know each of our experts individually. Today, we would like to feature Marguerite Maldari, Client Services Manager!

A resident of Cold Spring Harbor, Marguerite joined the American Investment Planners LLC team back in 2006 after working for retail brokerage firms for 15 years. Thriving as our Client Services Manager since then, one of her primary responsibilities is to oversee the relationship between our clients and Cadaret, Grant & Company, Inc. Additionally, Marguerite works with each client on an individual basis to oversee their account, handle trades, process annuity applications and monitor income distributions. As a result of her stellar performance in this role, she has certainly become a favorite with each person we help!

Outside of a work environment, Marguerite is a huge fan of music and movies, and really enjoys taking to the outdoors. Furthermore, she absolutely loves to spend time her with her son, daughter-in-law and grandchildren, and is currently getting ready to celebrate her daughter's wedding!

Marguerite - thank you for all of your dedication to the clients we have at American Investment Planners LLC! We can tell how much they truly adore you and appreciate your continuous effort to assist them on a daily basis!

For more information about Marguerite Maldari, be sure to check out her employee bio on our website!

Your Guide To Estate Taxes

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

If you have been following our blog, then you know that this month we have placed much of our focus on estate planning. From defining the different types of beneficiaries to talking about protecting children, including charities in wills and how you can minimize estate taxes, we are your ultimate source of information when it comes to this particular financial topic. And today, we're going to continue by discussing a few other important things pertaining to estate taxes that we feel you should know:

1. As defined by the IRS, an estate tax is a "tax on your right to transfer property at your death." The tax value includes all of your assets and interests you have upon the day of your passing.
2. Estates that are not too complex in nature (for example, cash or joint property), normally do not require that an estate tax return be filed. However, when assets exceed $5,430,000 (as of 2015), filing is a must.
3. A gift-tax exemption is another approach you can use to avoid owing taxes. But, keep in mind that this refers to gifts that are given during your lifetime. According to this exemption, you can technically hand out $5.43 million without being held responsible for taxes if this is the route you choose.

For more details about estate taxes, including additional information about tax exemptions and tax exclusions, click here.

Here at American Investment Planners LLC, we understand that estate planning can be tricky, especially when it comes to dealing with taxes - that's why we're here to help! To learn more about our estate planning services, please be sure to visit our website or give us a call at (516) 932-5130.

Tips For Minimizing Estate Taxes

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Like everything else, your estate is subject to taxes, which means that you must consider them when planning for what will happen to it upon your passing. But, just like everyone else, we know that you'd probably like to find ways to minimize just how costly your taxes are. So can it be done? With the below tips, it's very well possible:

Plan in advance: The longer you wait to take care of estate planning matters, the more likely it is that your estate will have higher taxes to deal with. Simply put, that's because you and your financial planner will have less time to develop strategic solutions that could potentially keep unbearable taxes at an all time low. The sooner you meet with a team like American Investment Planners LLC, the easier it will be to create a plan that puts both you and your estate first - not taxes.

Take away assets: When you remove assets from your estate completely, you can minimize tax costs since there is naturally less to be taxed on! This means that when you plan for what will happen to your estate, you may want to consider alternative options for those assets that are likely to come at a high price. To best figure out how to distribute assets without falling victim to crazy-high estate taxes, speak with your financial planner!

Use marital transfers: So long as your spouse is a U.S citizen, any assets you leave in their name can typically be received on a tax free basis. However, you'll want to keep in mind that once the remaining spouse passes, taxes will need to be paid on their estate and what was left, so you'll need to think carefully about who will really inherit estate taxes in the long run. The good news, though? There are some exemptions that can be made - just ask your team of advisors about which ones may benefit you!

Although taxes are generally unavoidable, when you really research all your options you may just find that you can minimize how much you or your estate is responsible for paying in various situations. If it's time for you to work on your estate plan and you're hoping to keep your estate taxes on the low end, contact us at (516) 932-5130 to learn which solutions may be best for you!

Charities and Estate Planning

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

So you've decided to include a charity in your estate plan. While most people probably think about "who" they are going to name in their will rather than "what" or "where," you may actually be surprised at how many do choose to leave their assets or make a donation to charities too.

How it works:

Giving a gift to charities upon your passing is actually pretty simple, and there are quite a few ways to do it! For starters, you may decide that you would like one or all of your retirement accounts to be presented to the charity of your choice. In this case, all you'll need to do is name the charity as your beneficiary on them.

On the other hand, you can also take advantage of Charitable Lead Trusts, which ultimately reduce your current taxable income. In this approach, part of the trust's income is donated directly to a charity, with the rest eventually landing in the hands of the trust's beneficiaries. While this method absolutely benefits the charity of your choosing, it can also benefit beneficiaries as they will likely wind up with lower estate or gift taxes when the time comes.

Finally, a third strategy would be to simply put in writing how much you would like a charity to receive once you pass. Potentially one of the easiest ways to give a gift to charities, all you generally have to do is list the charity's name(s) and what portion of your assets you want them to receive.

Do you have a charity that you are considering for your estate plan? If you know that you want part of your assets to be donated to a charity, don't forget to look into them first to see if they have specific policies or procedures surrounding this type of action. Then, contact American Investment Planners LLC to get started on putting it all together! To make an appointment to meet with one of our financial advisors, please call (516) 932-5130.

How To Protect Your Greatest Asset - Your Children

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

In terms of estate planning, of course it's important to figure out what will happen to material assets like your home, car or other prized possessions - but what about your greatest asset of all? While you'll definitely want to see to it that your things are in good hands, most importantly, you'll need to have a plan for your children.

Did you know that only 49% of married parents have a will? For single parents, that number is even less - only 17% have a will prepared. But, in order to ensure that your children are protected after your passing, you must have one written well in advance.

So what must you include in a will when it comes to your children? First and foremost, you'll need to choose a guardian for those that are minors. Additionally, guardians should also be selected for adults who have special needs. And why is this so important? If you fail to choose a guardian for your children before you are no longer able to, their fate will be determined by the courts instead.

What about beneficiaries?
It isn't uncommon to consider making your child your beneficiary, but if they are minors at the time, your best bet would be name them as a contingent with a guardian. This way, you can still leave your assets to them but in a way that best benefits all parties involved.

Although writing a will isn't always a top priority, we encourage you not to forget how much of an impact it can have on your children's lives. If you have questions about planning for your family's future - especially when it comes to wills and estate planning - please do not hesitate to contact the team here at American Investment Planners LLC. Since 1984, we have been providing comprehensive plans to each of our clients and would be more than happy to help you next.

Above information courtesy of Emerald Connect.

Different Types of Beneficiaries

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Are you in the process of naming a beneficiary? When it comes time to determine who will receive some type of financial benefit upon your passing, you may have several people in mind. And though you may think that you can only list one person, the good news is that there are a few types of beneficiaries that need to be selected, and in some cases you can even choose multiple people! What do we mean, you ask? See below to learn more:

Primary beneficiary:

The primary beneficiary is your absolute first choice when it comes to who will receive your assets. However, if you can't decide on just one person (or charity, estate or trust), you may have the opportunity to select a few - in this case, your assets will be equally divided among those that are named. Keep in mind, though, that if you do choose multiple primary beneficiaries, you will also have to make a plan for what will happen if one of them passes before you or cannot be found. For example, will the remaining beneficiary(s) receive all of your assets? Or will they be given to someone connected to the beneficiary who is no longer able?

Contingent beneficiary:

Once you have chosen the primary person(s), charity or trustee that you want to claim your assets, you'll need to name someone else who can in the event that your primary beneficiary is unavailable. For example, if your primary beneficiary has passed before you, your contingent beneficiary will take their place. Similarly, if your primary beneficiary is unable to be found at the time of your passing, your assets will be moved to whom or what you named as your contingent.

For more information about primary and contingent beneficiaries, please click here.

As one of the nation's largest and most respected independent financial planning firms in the country, we at American Investment Planners LLC have all of the information you need when it comes to estate planning and naming beneficiaries. For help in this area, please give us a call at (516) 932-5130 to start speaking with our team today.

Tips For Discussing Money With Your Family

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Aside from your typical day-to-day conversations about work and school, one topic that must be addressed by families is money. Whether it be related to children saving for college, how to properly manage credit cards or what is to happen with financial assets upon a parent's passing, it is extremely important for families to sit down together and have money talk to ensure that everything is taken care of in the best way possible. But since talking about money can be stressful, we've put together the following tips that you can use to make it easier:

Choose the right time: If you're a parent or child who no longer lives with the other, the best time to discuss money is when you are face-to-face. However, that doesn't mean holiday dinner should be the time you dedicate to doing so. Instead, work together to set aside some time where no other activity is taking place. Having everyone's undivided attention on the topic is the best way to guarantee a positive outcome.

Avoid criticism: It can be pretty simple to focus on the "don'ts" of personal finances, but talking about it negatively can put a bad taste about money in everyone's mouths. Therefore, your best bet is to approach the topic in a positive way instead, touching on why certain habits are good to get into rather than why current habits are wrong.

Don't go overboard: While you may have a bunch of topics to discuss, it's important to realize that you may not be able to touch on it all at once. Especially when it comes to situations that are a bit more in-depth, you need to to make sure that everyone is completely focused and on the same page - not scrambling to jump back and forth from one idea to the next. If you have several things to talk about, you may be better off scheduling different days to meet.

Although money can be one of the most difficult things to talk about with your family members, when you take the above into consideration it can ease the burden of doing so greatly. Do you feel ready for the conversation?

After you've met with your family, don't forget that it's important to meet with a professional financial advisor as they can provide you with the most strategic solutions to help with any money related matter. For more information about how we at American Investment Planners LLC can help, check out our website or give us a call at (516) 932-5130 to make an appointment with our team!

Financial Tips For Those Who Have Lost A Spouse

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

Losing a spouse can surely be one of the most difficult times in your life, and having to make major decisions (such as those related to money) can make matters even worse. However, if this situation is current in your life and you're struggling to figure out what to do next, don't give it another thought - we're here to help! Below are a few tips we've put together for you:

Think carefully: If you've experienced a financial benefit due to your spouse's loss, think very carefully before making any decisions about what to do with it. While you may be inclined to share some money with friends or family or make a large purchase in memory of your spouse, think about how your income and own personal financial needs are going to change. Though this money may be "extra" to you now, down the line it may become something you need to rely on.

Update accounts: Upon your spouse's passing, accounts such as pensions, auto insurance, and anything related to a home or property must be updated. Although changing ownership of an account may not be the first thing on your mind, it's important to do so to ensure that you don't become financially responsible for more than you can handle.

Don't rush: While you may be in a hurry to take care of all financial matters, keep in mind that your emotions may cause you to make decisions that sound right at the time, but aren't the best for your future. Before you make any moves on things like your spouse's investments or life insurance, give yourself some time to come to terms with the situation. 

Ask for help: During a time like this, you mustn't be afraid to ask for help - especially when it comes to money. Though you may want to have complete control over your spouse's assets and your financial future, rest assured knowing that there are teams like ourselves ready and willing to guide you in the right direction! 

At American Investment Planners LLC, we understand just how life changing the loss of a spouse can be, and we know that it can certainly make dealing with money much harder - but that's why we're dedicated to being there for you. To learn how we can help you sort things out during this time, please give us a call at (516) 932-5130.

Market Update Part 2: China Value

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

As the American stock market has become a global stock market, a lot of ‘foreign’ terminology has crept into our language in both trying to analyze it as well as incorporating what it means into our personal financial planning process. Since worldwide market forces impact our own Federal Reserve’s reactions to national monetary policy, it behooves us to become familiar to the power our own imports and exports have in the global economy. The devaluation on modern monetary policy is a reduction in the value of a currency as it affects goods and services with which that currency is being exchanged. This is different than depreciation which occurs mainly in basic supply and demand behavior compared to a bank taking policy action.

A ‘currency war’ can occur where countries compete against each other to bring about a relatively low exchange rate for their own currency. Since the price to buy a country’s currency falls – so does the prices of their exports. Imports, on the other side, become more expensive. As far as services go, the domestic side receives a boost in demand both internally as well as from foreign sources. Naturally, other countries may want to get in on this competition which could lead to a general decline in international trade, harming all the competitors. Of course, this kind of devaluation is rare since most countries generally prefer to keep a high valuation for their own currency and allow market forces to work and determine proper pricing. Considering the United States is experiencing its tightest labor market in 40 years – the absence of wage ‘inflation’ is still pronounced, as we hear many of our clients still wondering when their promised raises will begin. With the collapse in oil prices, lowered commodity prices and the recent devaluation of the Chinese yuan – the inflation rate seems it will remain below the Fed’s 2% target threshold for the foreseeable future.

One lesson China is learning from our homegrown monetary and economic policies is that intervening to encourage growth works!  In this case, supporting export industries with a weaker currency should be a good thing, not a reason for markets to expect a doomsday scenario.  If other countries depreciate the value of their currencies, the U.S. dollar will grow stronger and a stronger dollar means cheap imports, less expensive vacations abroad and lower interest rates! Every industrialized nation, as well as many in the developing world, has resorted to currency devaluation as a "Band-Aid fix" at one point, as is told by The Fiscal Times. The market typically does the rest of the work to adjust prices of goods and services after the announcement. Adjustments to personal financial plans are needed as well. Anticipating future long term growth is equally as important as keeping on top of current financial needs. A properly balanced portfolio should still be tweaked as market conditions change.  

For insight into your own investment asset allocation, please feel free to email Barbara Magor Deel, Vice President of Financial Planning at American Investment Planners LLC at barbara@americaninvestmentplanners.

Web source: CNN Money, The Economist, Bloomberg