When raising children, most parents hope to shape their children’s behaviors, provide them with specific values, and help them become productive members of society. Parents often use a “carrot and stick” approach to get the desired outcomes, incentivizing approved actions with rewards and discouraging unapproved actions with punishments.
Tag Archives: beneficiaries
A life insurance policy sometimes provides money for continuing care of family members with long-term disabling health conditions.
Last week, we began a two-part series about designating beneficiaries for your life insurance policy. Click here to read that post. Here is part 2. Protection against your creditors.
Your retirement account provides good asset protection. However, as soon as you pass that account to a loved one, the associated protection evaporates. This means that just one lawsuit can make the entire thing disappear! If this occurs, your life-long, hard-earned savings could be wiped out, leaving your heirs penniless. But, never fear. Your estate […]