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Brought
to you by:
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| McCormick Klessig & Associates
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About Our Firm:
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McCormick-Klessig & Assoc., Ltd. provides individuals, families, small and medium sized businesses with complete coverage of personal and business risks in all product lines: Commercial Personal Life Accidental and Health ( including group products).
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| QUOTES from
the
Masters... |
| On Vision |
On Overcoming Obstacles |
| "Teaching
people skills without giving them a vision for a better future -- a
vision
based on common values -- is only training." -– Nido Qubein
"With
vision, every person, organization and country can flourish. The
Bible says, 'Without vision we perish.'" -– Mark
Victor Hansen
"Imagine
your ideal future. Visualize yourself as if your life were
perfect
in every respect." -– Brian
Tracy
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"Life
has a way of creating roadblocks that end up as building blocks in our
lives." -- Doug Firebaugh
"For
every difficulty that supposedly stops a person from succeeding there
are
thousands who have had it a lot worse and have succeeded anyway.
So can you." -- Brian Tracy
"Turn
your troubles into treasures. Learn from them and grow from
them."
-- Mark Victor Hansen
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There may be a
mistaken impression that, at death, your assets will automatically be
distributed
to your loved ones. Instead, several "unwanted heirs" may step
forward FIRST for
their share of your estate.
These
"unwanted heirs" can include:
- Federal
Estate Tax
- State
Inheritance Tax
- Estate
Administrative Costs (funeral expenses,
probate
costs, professional fees, final expenses and debts)
The
problem is that these "unwanted heirs" can siphon off a significant
portion of an estate's total value.
| THE HIGH
COST OF DYING |
| Gross Estate |
Administrative
Costs at 5% (1)
|
Taxable Estate |
2009
Federal Estate Tax (2)
|
| $ |
1,000,000 |
|
2,000,000 |
|
3,000,000 |
|
4,000,000 |
|
5,000,000 |
|
7,500,000 |
|
10,000,000 |
|
15,000,000 |
|
20,000,000 |
|
| $ |
50,000 |
|
100,000 |
|
150,000 |
|
200,000 |
|
250,000 |
|
375,000 |
|
500,000 |
|
750,000 |
|
1,000,000 |
|
| $ |
950,000 |
|
1,900,000 |
|
2,850,000 |
|
3,800,000 |
|
4,750,000 |
|
7,125,000 |
|
9,500,000 |
|
14,250,000 |
|
19,000,000 |
|
| $ |
0 |
|
0 |
|
0 |
|
135,000 |
|
562,500 |
|
1,631,250 |
|
2,700,000 |
|
4,837,500 |
|
6,975,000 |
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(1) Actual costs
may be higher or lower.
(2) Based on the
2009 estate tax rates and $1,455,800 unified credit. The Economic
Growth
and Tax Relief Reconciliation Act of 2001 repeals the estate tax for
one
year - 2010. Under that law, the federal estate tax continues,
but
with increasing unified credits and decreasing top estate tax rates,
until
2010 when it is repealed only for that year. Without future
Congressional
action, the 2001 federal estate tax rules will be reinstated in 2011,
but
with a $1 million exemption equivalent (as scheduled to increase prior
to the Act). |
What might the
"high cost of dying" mean to you and your family?
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| MESSAGES
from
the Masters... |
OUR
DEBT by Zig Ziglar
All
of us are in debt...We are indebted to our parents because they were
responsible
for bringing us into the world. Next, we're indebted to the doctors,
nurses,
aides, orderlies, and other hospital personnel for the parts they
played
in making our arrival a safe and healthy one.
We're
indebted to the educational structure where we learned reading, writing
and arithmetic, which are critical to our lives...
We
are in debt to all the pastors, priests and rabbis who taught us the
essence
of life by instructing us in the character qualities that are important
to us, regardless of our chosen field of endeavor--athletics, medicine,
education, business, or government.
We
certainly owe a debt to people whose messages have been encouraging as
well as informative and instructional. We are deeply in debt to public
servants who commit their lives to service through appointed or elected
offices...
The
list is endless...We have a heavy debt, and one way to repay that debt
is to regularly express thanks and gratitude to the men and women who
make
our lives worth living...Thank a lot of people, and you will accumulate
many friends and enjoy life more.
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The purpose
of this newsletter
is to provide information of general interest to our clients, potential
clients and other professionals. The information provided is
general
in nature and should not be considered complete information on any
product
or concept described. For more complete information, please
contact
my office at the phone number above.
Quest Capital Stratagies
25231 Paseo de Alicia, Suite 110
Laguana Hills, CA 92653-4615
(800) 527-9989
Member FINRA and SIPC FINRA is located at www.finra.org.
SIPC is located at www.sipc.org.
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