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5 Myths About Revocable Living Trusts

The main reason to create a revocable living trust is to pass your assets easily to your loved ones including your spouse and your beneficiaries.  A properly drafted and properly funded living trust will help you avoid probate.

 The average probate cost is about 8% of your estate. So if your home is worth $1,000,000 at the time of your death, your loved ones will pay about $80,000 in court costs.

 There are no real tax benefits for you while you are alive by creating a revocable living trust.

 Joint Tenancy may not be a very good alternative as the second Joint Tenant who dies will not be allowed to pass on the stepped up basis for Inheritance Tax.

 A Living trust does not need to be drafted by a lawyer.

 You do not have to pay thousands of dollars for a living trust.

 Together with law professors and other pros, I have collaborated with not to give legal advice but prepare a proper revocable living trust, pour over will durable power of attorney for health care and finances and make sure your trust is properly funded, all for less.

Contact Connie Dello Buono 408-854-1883 motherhealth@gmail.com Marketing Service for Law Professors for Revocable Living Trusts in 50 US states.

My grandma says so

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I grew up in the beautiful island of Marinduque , central part of the Philippine Islands. My grandma Claudia walked with me to the clear water in the white sand beach to clean my body as the sea water is healing. It took many hours of long bus ride.
She would massage my forehead if I am feeling nauseous.
And so, she reminded me of the many things about my body, my health and other cultural practices listed below. They all reminded me of her, from her healing hands and admonitions.
From yodisphere.com:
My grandmother has this funny and bizarre collection of health ideas that I do not know whether some of it is true – but I’m sure most of it are just local absurdities. Maybe it is because of information deficiency and the belief in albularyo or local quack doctor.

 

These health beliefs always remind me what it was like to grow up in the province, fascinated and horrified by the adult world. Right now, it is really reassuring that the things I used to believe weren’t so strange after all because I discovered that, somehow, most provinces across the Philippines, and even other countries, also have their own or same health legends. And the most common – sleeping with wet hair can cause blindness.

Then again, even communities in Metro Manila and other cities, especially urban poor communities, still believe on these health legends. Although city people have access to electricity and the mass media, much of their health information can be misleading inaccurate or distorted.These beliefs are really amusing so I take time on finding little facts about it by doing a little research to satisfy my itchy curiosity. I’m not an expert in medicine and my notes are still subject to medical scrutiny.Here are some of the popular health-beliefs in our town in Mindoroand my personal notes:  
1. Sleeping with wet hair can cause blindness – In our province, it is said that if you sleep with wet hair, first you will be cross-eyed, then you will go blind. Meaning, if you happen to wake up in the middle of your sleep with your wet hair, you will only be crossed eyed – and you know what, you are considered lucky — because if you sleep longer you will be blind.

  • My Notes: According to John C Hagan III, MD, an Ophthalmologist affiliated with the American Academy of Ophthalmology, that belief is totally untrue. There is no connection what-so-ever between wet hair and eye problems. Why would you want to sleep with wet hair anyway? 

2. Urine of frogs causes warts or kulugo – Kokak Kokak! No way. I love playing with frogs when I was a kid, what I got are bruises from chasing them – not warts.

  • My Notes: The cause of the typical wart is not a frog. It happens because the wart virus finds a body with a weak immune system.

3. Eating too much magoes can cause bungang-araw or prickly heat rashes – I’m not really sure about this one. What I personally experience is that I got itchy lips and throat when I accidentally ate a portion of thatpico mango fruit rind. Despite the fact that mango can be allergic to a few people, it is still a healthy fruit and I cannot help myself eating this fruit – especially those overripe big kinalabaw mangoes, hmm yummy.

  • My Notes: Well, the problem is that mango tree sap, and the rind of the fruit, contains urushiol, the same chemical the poison ivy plant produces. Some people experience skin rashes especially in the lips upon contact with the sap or the skins of the fruit. Well, you can’t be that hungry that you want to eat even the mango skin – that’s reserved for the backyard pigs you know.    

4. Eating grilled lizard can cure asthma – The usual practice is to grill a lizard until it turned to charcoal black, grind it then mix it to some juice or coffee so you can’t taste what a lizard really taste like. Others just add a whole lizard when cooking rice. Yaikks! 

  • My Notes: Some experts say that asthma can not be cured. Of course eating lizard is not based on a prescription or medical advice, but at least they believe in alternative medicine. We just really don’t know its medicinal effects though. In the meantime, I suggest we should require all lizards to have them labeled with “No approved therapeutic claims.” – until such time that a proper study was conducted. Any objections, Godzilla? 

5. Washing hands after ironing clothes can cause pasma – Pasmarefers to a folk illness unique to the Filipino culture with symptoms of hand tremors, sweaty palms, numbness and pains attributed to an interaction of “init” (heat) and “lamig” (cold).

A rather amusing variation on this belief is the idea that condoms cause “pasma” allegedly because the rubber aggravates the body’s heat. Ha ha ha, Maybe an impotent Catholic priest, who is fighting against contraceptives and the Reproductive Health (RH) Bill, started this rumor.LOL  
  • My Notes: Pasma is not described in medical textbooks, discussed in medical schools, or generally recognized by contemporary medical science.

6. A lady eating twin bananas will give birth to twins – Eating twin fruits like double almonds and bananas were thought to increase the likelihood of twins.

  • My Notes: None – I don’t bother googling this one, because obviously, this is ridiculous. Just consult your local manghihilot to explain this to you in detail or perhaps try visiting the psychic readers in Quiapo if you want more information.

7. Brushing hair 100 times before bedtime can make it softer and shiny – This is the old tale, which claims that brushing your hair a lot, 100 to 200 strokes a day, is good for the hair.

  • My Notes: According to the basic hair care article posted in Mercury Drug Website, we have about 100,000 strands of hairs on our head. Each grows for two to six years. It’s normal to shed some 50 to 100 hair strands a day. When hair falls out, a new strand eventually replaces it.
  • Their Advise: Don’t put strain on your hair strands by brushing too much or too vigorously. The story about brushing your hair 100 times a night is not true. Overbrushing the hair simply makes it brittle and may cause the scalp to produce excess oil.

8. Eating ants can improve singing – So finally, Celine Dion and Charice Pempemco’s secret is finally out. Sautéed ants are behind their angelic singing voice? Well, if it’s true, Willie Revillame and Paris Hilton should’ve done that two decades ago so that they wouldn’t have to be a trying hard singer.

  • My Notes: Maybe an old lunatic singer, during one of her epileptic seizures, started sharing her secret about eating ants to improve her voice, her die-hard fans heard her – and from there, the legend goes. Z and Princess Bala will not love this.

9. Drinking seawater can cure cough/colds – In our province inMindoro, whenever we got cough, my mother will let us have our sea swimming early in the morning and would encourage us to take a gulp of seawater to cure our cough. Of course seawater in our small town is really clear and clean unlike the yukkiiee toxic Manila Bay.

But wait, based on my fact finding spree, this one, which I thought was also an absurd belief is amazingly has some truth in it. Well at least I found out that not all beliefs in my list are just absurdities.

  • My Notes: According to a Czech research [Efficacy of Isotonic Nasal Wash (Seawater) in the Treatment and Prevention of Rhinitis in Children], seawater spray cures kids colds. It may be that the salt water has a simple mechanical effect of clearing mucus, or it could be that trace elements in the water play some more significant role, though the exact reason why such a solution works is not known, said Dr. Ivo Slapak and colleagues at the Teaching Hospital of Brno in the Czech Republic.

I’m sure you also know of some health myths – like jumping on New Year’s eve to make you taller?

Hmmm, what else…
Please share what you have in mind in the comments section below.  




_____________________________

Sources: Retrieved 16 April 2010 by YODZ INSIGNE

» Hagan, John C. III, MD, “Eye Care” 
»Tichenal Allan, Dobbs Joannie “How to Avoid Mangoes Itch”
»Suvamita Ghosh “Mango Allergy”
»Tan, Michael. Philippine Daily Inquirer “Pasma”
»Conlon, Michael Seawater spray cures kids colds-Czech researchers Jan 21 (Reuters)
»Ivo Slapak et. al., Efficacy of Isotonic Nasal Wash (Seawater) in the Treatment and Prevention of Rhinitis in Children

Cancer , stroke or disability? Funds in your pocket from $100k to $1.5M, illness riders at no cost

living_benefits funds in your pocket during health threats – similar to LTCImage

 

California is in the process of updating critical illness riders issued by all insurance companies. We will keep you posted of any changes.

My father died of lung cancer. Some of us are taking care of our parents with Alzheimer’s disease , Parkinson’s and other illness. Would it be a life saver to have living benefits, access to funds during health threats in our IUL policies?

Investment, life protection and health protection. Our current health insurance pays for our medical bills but not US, who lost an income, properties and other finances to keep up with medical bills many years later. Some of those who receive living benefits, cash in their pocket survived cancer and is happy that they have $100k -$1.5M during their illness, which perhaps why they got well sooner from feeling no financial burden.

Retirement planning for doctors and health care pros

doctors tax free retirementImage

tax free retirement for doctors and health care professionals_

Here is an example of saving during  a low tax environment and taking retirement income when tax rates are higher.

As you can see, although you may accumulate more money through a pre-tax plan, if your tax bracket is high enough in retirement, your net income distribution may be much lower than if you saved through tax-free alternative.

Call Connie Dello Buono,  Personal Finance Concierge for Doctors, Health Care pros and Bay area pros
CA Life Lic 0G60621 at 408-854-1883 connie_dellobuono@glic.com or motherhealth@gmail.com San Ramon, San Jose and San Mateo office at http://www.guardianlife.com

Retirement strategies for women

Retirement_Strategies_for_Women

women living independently Women in market place

Call Connie 408-854-1883 if you want to earn extra income without working more than 3 jobs or if you want to retire with sufficient pension, tax free and with living benefits (access to funds in your pocket from $100k to $1.5M during health threats – similar to long term care , added at no cost to your investment-retirement plan).

Estate Planning for Business Owners

estate planning personal residence trustestate planning strategiesestate planning strategyestate_plan_ for business owners

The irrevocable life insurance trust is not the only form of trust that’s useful with an estate plan. There are actually several different types of trusts that have important roles to play in the estate planning process.

One of the more popular trusts is the so-called “living trust,” more technically known as an inter vivos trust.

A living trust is a legal document that resembles a will. Like a will, a living trust stipulates how an individual’s assets are to be distributed, and the specific terms of those distribution plans. Unlike a will, however, a living trust operates during the lifetime of the person who set it up.

The intent of a living trust is to manage assets during periods of disability and at death. A common purpose for living trusts is to protect assets should the grantor become mentally or physically incapacitated. That is, it contains detailed instructions for the management of assets should the grantor become disabled, as well as directions for the distribution of assets at death.

Because they stipulate the disposition of assets at death, a living trust must dovetail with the terms of the grantor’s will.

 

So, let’s sum up the advantages of an irrevocable life insurance trust and see why most feel it is such an important part of any estate plan. . .

An irrevocable life insurance trust can be used by taxpayers who wish to remove not only substantial assets from their gross estates, but also any income from or future appreciation of those assets. This tax benefit is paid for by giving up complete control over the trust and trust assets.

By avoiding the insured’s estate, however, insurance proceeds in an irrevocable trust do not increase the decedent’s estate tax burden. Thus, they can be a source of income for the surviving family, while providing funds to pay estate taxes for the estate, but not from the estate. This can help avoid a forced sale of assets at the grantor’s death.  There are some issues that anyone considering an irrevocable life insurance trust will have to evaluate relative to their circumstances.  Questions to consider are will there be sufficient cash flow to cover the premiums?  Are there enough liquid assets so that the funds contributed to the trust will not be needed for future living costs?  You also want to understand the administration issues and costs involved with an irrevocable life insurance trust.

Be sure to get qualified professional help when establishing this or any type of trust.

 

———–

Seek a lawyer, research and find the best fit for your estate.

 

Fire your boss, own a business now, financial planning for CPA, insurance agents, health care pros and realtors

As a CPA, your clients would ask you to help them allocate thier idle money and have health and asset protection.

As a realtor, your clients wants your opinion on how to protect their house should a health threat occur or income loss.

As an insurance agent, you wanted to be a builder and not just a salesman to be able to do business long term as non-captive owner of your own agency.

As a doctor, you understand that health threats can wipe out your savings, income, estate and future pension.

As a health care pro, you wanted to be protected from health threats and a retirement income for a lifetime during old age and in sickness.

As a bay area pro, you wanted to retire early and not work 2 or 3 jobs to earn a living.

You can create your own business. Be creative. Start your own business.

My business is financial planning and your referrals are much appreciated for anyone needing a permanent life insurance with cash accumulation and returns from 6% or more.

Call Connie Dello Buono CA Life Lic 0G60621 motherhealth@gmail.com for one on one session for an hour for free on finance, health and business coaching.

Stop your losses from your 410k, stock market and other investments.

 

 

Chicken Adobo from the Philippines

Chicken Adobo from the Philippines

You can smell it.
And make it healthy.
Children loves it.
Best with rice.

Hormone free chicken, whole is tastier, with no skin
pineapple juice, soy sauce and coconut vinegar/white
bay leaves, garlic, onions, pepper, salt

Saute to near brown, chicken chunks in canola oil, garlic and onions. Add bay leaf.
Slowly add soy sauce (2part) for every one part of vinegar wetting the chicken.
When nearly cooked, add a TBSP of pineapple juice.

From the kitchen of my mom Espie, age 78, compiled by Connie of clubalthea.com

Save 30% when you lease a car, save your money toward a tax free retirement savings

Leasing a car save you 30%, preventing you from unplanned buying whenever you see a 10% discount.

You can tuck away the money you save towards your tax free retirement.

There are many ways you can find money to save away each month.

You can also work part time to have extra money towards your retirement.

It is not late at 30 or 60 years of age.

We cannot see the pain now, when we are not employable at age 65 or is bed-ridden at 70.

We have health benefits in your retirement savings plan that helps you access money in your pocket from $100k to $1.5M when health threats occur.

You only see the value of health and life protection when someone dies in your family unprepared.

Or a young 40 yr old having a stroke.

When you have genetic predisposition to health threats, insure now with an IUL with living benefits.

Call Connie Dello Buono CA Life Lic 0G60621 motherhealth@gmail.com

We are hiring in 50 US states for part time agency owner/referral agent.

Unlimited training, support and income potential.

The top two high income earner in the country are real estate and financial service professionals.

Change opens up new ways of earning and growing and opens you to opportunities.

Be not broke anymore. Reach for your dreams.

Doctors, carehome owners and caregivers are some of my clients

They all know that health threats like cancer,stroke or disability can occur without warning.

And that they are safe in knowing that they can leave behind a substantial estate with a stroke of a pen to their love ones.

And that to act now means ensuring their retirement for lifetime income sooner than later with money doubling every 9 years.

A caregiver in his 50s saving $184 and up per month to secure his lifetime retirement income, disability insurance similar to long term care and life insurance leaving around $200k to her 3 children and wife should he die early.

A carehome owner who owns 6 houses , takes care of developmentally disabled teens and who does not want to burden her two children should he needs long term care or die too soon.

A doctor who needs to save for his children’s college and retirement, who uses the IUL policy to have a tax free lifetime retirement income that is flexible, secured and had been growing at an average of 8% during the last 25 years.

A self-employed business owner, single mom who wants to leave an estate to her two children and future grandchildren, and wants to save tax free with no market risk lifetime retirement or pension via our IUL.

If you are still healthy and have no sizeable savings, you can start now. If you know that you have genetic predisposition to some disease, do call to protect your health and life and lifetime retirement income.

Free information to bay area pros who have parents with Alzheimer’s disease, Parkinson’s, heart disease and cancer on financial and health planning. Email Connie.

Call Connie Dello Buono CA Life Lic 0G60621 at 408-854-1883 motherhealth@gmail.com 1708 Hallmark lane san jose ca 95124

We are also hiring part time referral agents or full time agency managers to own their own retirement planning and help people access to funds up to $1.5M when health threats occur and a tax free lifetime retirement income, 8-13% return.