Improve your home security

You can usually get discounts for fitting a smoke detector, burglar alarm or dead-bolt locks. Some companies offer quite substantial reductions on premiums if a sophisticated sprinkler system and a fire and burglar alarm that rings at police, fire or other monitoring stations is installed. These systems aren't cheap and not every system qualifies for a discount. Before you buy such a system, find out what kind your insurer recommends, how much device would cost and how much you'd save on premiums.

Maintain a good credit record

Establishing a solid credit history can cut your insurance costs. Insurers are increasingly using credit information to price homeowners' insurance policies.

To protect your credit standing, pay your bills on time, don't obtain more credit than you need and keep your credit balances as low as possible.

Stay with same insurer

If you've kept your policy with a company for several years, you may receive a special discount for being a long-term policyholder. But make certain to periodically compare this price to ensure that you are getting most competitive price.

You may freely reprint this article provided author's biography remains intact:

• The "second-death" problem -- How big a mistake can it be for an estate owner to leave everything to his or her spouse under marital deduction? Consider this example: A married couple with two children each have assets of $1 million, which they intend to leave to each other under unlimited marital deduction. If husband dies first and leaves his entire $1-million estate to his wife under unlimited marital deduction, his taxable estate will be zero. As a result, how¬ever, if wife does not remarry, her gross estate at her death could be $2 million, under unlikely assumption that assets will not appreciate. Without some careful estate planning, federal estate tax could take a big bite out of children's inheritances at their mother's death.

Meeting estate planning objectives. If an estate is going to be big enough to tax, a will is just beginning. The client may also need to do some additional estate planning to meet other impor¬tant objectives:

• Avoiding probate • Reducing or eliminating estate shrinkage • Providing sufficient liquidity to cover estate settlement costs • Minimizing federal estate taxes and state death taxes • Providing for orderly disposition of a business or professional prac¬tice • Maintaining family's lifestyle and meeting other financial secu¬rity objectives,

To avoid making mistakes, people need professional advice from a qualified attorney, trust officer, accountant or other financial advisors. Estate planning has helped countless numbers of people reduce their estate tax liabilities and prevent needless loss of business and other assets.

Remember, however, that while tax savings may be a primary issue, they’re not only issue. Estate planning is also a way for people to reflect, perhaps for first time, on what they'd like to have happen to their property after they're gone. Much of cost and inconvenience of estate settlement can be reduced or eliminated during a person’s lifetime. It can be done by making decisions to imple¬ment strategies for conserving and distributing your assets most advantageously. Among these strategies are use of:

• Jointly owned property • Lifetime gifts • Wills • Trusts • Life insurance

Planning to provide for a family’s needs at household head’s death is essential, especially if employer’s pension option is "single payer." Annuities offer security of a guaranteed death benefit, which passes to owner’s named beneficiary(ies) free of costs and delays of probate. With some annuities, a spouse who is primary beneficiary has option of assuming ownership of annuity and continuing to accumulate money on a tax-deferred basis.

Retirees should continually review their estate plans because life’s changes often create a need to alter these arrangements.

Want More? Send questions and comments to w.willard3@knology.net