RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

10 Reasons to Add Life Insurance to Your Christmas List

December 23, 2014 12:42 am

(BPT) - You can't drive it around the block. You can't wear it for an evening out. You can't watch anything on it. And chances are it won’t elicit squeals of delight when opened. But of the many gifts you can give, life insurance might make the biggest difference to those you love. Here’s why.

1. It is a generous thing to do. Purchasing an insurance policy isn’t about you at all, because you won’t be around to benefit. It will, however, benefit your family, loved ones, and even organizations that are important to you.

2. Freedom from worry. Knowing that your family is prepared financially if you’re no longer around can provide an incredible sense of reassurance. It can help provide your loved ones a measure of security and stability.

3. It is a cornerstone of a sound financial strategy. Protecting yourself against risk is an important part of any financial strategy. People often underestimate the extent to which a premature death affects a family's income and assets. Life insurance helps protect your financial strategy.

4. It sets a good example. Being financially prepared for an unknown future can speak volumes to those around you—and as the old saying goes, actions speak louder than words.

5. It may assist with paying final expenses. It’s easy to underestimate the amount of money needed to pay for final expenses. A life insurance policy can help ensure those don’t burden your loved ones.

6. It may help pay off debt. Funds from a life insurance policy can alleviate debt that might be hard to pay off in the event of an unexpected death. Your loved ones can use those funds to cover credit cards, car loans and even mortgage payments.

7. It may help pay for college. Leaving a legacy for your children or spouse through the gift of education might be one of the more meaningful ways benefits could be used. Your gift could open doors for them to build a solid financial future for themselves through a life-long career.

8. It may help provide for retirement. Depending on the financial circumstances of your loved ones, life insurance benefits can be invested in different ways to provide for retirement.

9. Leave a legacy. Life insurance benefits can help more than family members or loved ones. You can use the benefits to donate to charities or causes you care about and leave a legacy of generosity.

10. It demonstrates you care about your loved ones. With each bill that is paid, with each gift to charities that were important to you, with each act of financial generosity, those you loved will be reminded of the care you took to help ensure they were left with a healthy financial situation.

Published with permission from RISMedia.


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What Happens When Property Owners Don't Agree

December 23, 2014 12:42 am

So, you want to sell your real estate inheritance, and your siblings don’t. How can you compromise?

When a piece of real estate has two or more owners and one wants to sell and the others don’t, a petition to partition may be the answer. This happens frequently among families when real estate is left in a will to heirs, but it can also occur when a couple divorces. How do you divide the property? What steps should be taken?

When the petition process is started, a notification is delivered from the court and given to all owners of the property, in addition to anyone who may have a legal interest such as lien or mortgage holders. The process can be expensive and time-consuming. Many owners will retain their own lawyer—anyone who doesn’t want the petition to move forward can file with the probate court seeking to stop the process.

When a family can’t agree on the terms of the sale itself, the petition to partition can force the co-owners to sit and negotiate. Everyone involved must understand that there will be unnecessary delays and the final sale price may be considerably lower if they take too long to come to an agreement.

Published with permission from RISMedia.


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