The residuary trust: how can I provide for my children in stages? Many people are unaware that in the event of their death that their minor children would inherit their estate at the age of 18. At first glance this may not seem like such a bad thing. But even if our kids decide to go to college and even begin to start working perhaps at a part-time job, they may not have the savvy or know how to invest a large inheritance. Research conducted over the last couple of decades shows that upon the inheritance of a large sum of money, most people, not just young people, end up at a new car dealership within 7 days of receiving their inheritance check. Is this the way you want your legacy to be spent? A better way to plan for a child’s future, even into adulthood, is through the use of a residuary trust within your revocable living trust. You can provide for your children in stages or even upon certain conditions taking place, such as a requirement that they attend and graduate from college before receiving one or more distributions of principal from the trust. For example, June and Jack Clever have two minor children, Jane and John. In their trust, June and Jack provide for the health, education, maintenance and welfare of their children until the age of 21. At 21, Jane and John will each receive 30% of the principal of their trust. Then at age 25, they will receive another 30% and finally, at age 30, they receive the balance. This is a wonderful way to preserve your legacy and ensure that your children won’t be so tempted to squander what you have worked so hard to accumulate. Contact Brenda Geiger at brenda@geigerlawgroup.com For more information.

Wolf

On the border of Kentucky and Tennessee there's a small forest. Half of the forest belongs to a Kentucky farmer, while the other half belongs to a Tennessee man.

One day, while out for a walk in the woods, the Tennessee man comes across a wolf caught in a trap. He rushes back to his house and calls his Kentucky neighbor.

"There's one of your wolves caught in a trap on my side of the forest." "How do you know it's one of *our* wolves?" the Kentucky farmer asked. "Well," the Tennessee man replied, "he's already chewed off three of his legs and he's still trapped."

No, this is not a new cult designed to take over the world. World Leadership Group is an exciting new way of assisting consumers for their Real Estate and Financing needs. Our agency has partnered up with this organization to provide additional value to our clients. Call us for more details if you are looking for real estate and mortgage services.

McKinzie Insurance uses limited marketing resources. Our business development is mainly due to personal referrals from our clients and associates. When we speak with you, we would like to ask for your help. If you know someone that would benefit from the services we provide, let us know. Give us the name and telephone number of your referred lead, and we will give them a quick call to see if we can help. Qualified leads will earn you a $10 gift card to Starbucks!
Thanks for your help!

Hello Valued Clients and Associates,

We are already almost done with the first quarter of the year. Insurance rates are continuing to be excellent and we see no negative changes in the future.

Give us a call if you need any reviews performed on your existing policies, or if you want to research some other needs.

Have a great Spring!

Michael