Transition Planning, Inc.

CONNECT

Address:

22221 NE 11th Place
Sammamish, WA 98074

Phone:

425-868-7141

Fax/Other:

866-785-4453

Life-Changing Transitions

 

Life-Changing Transitions

Disabling Illness or Accident

Retirement

Long Term Care Funding

Legacy Planning Services

Loss of Your Loved One

Being Ready for Your Own Death

 

Disabling Illness or Accident

Who will pay you when you can no longer work because of an accident or illness?  How much will you receive, and how long will it continue?  What will happen to your company, or your retirement benefits?

When your income is cut off by disability, your expenses generally increase and your investments can deplete rapidly.  Without your ability to restore your investments, how will your dependents survive economically?

What are your options for replacing your income if you become disabled?

  • Borrow?
    • Who will lend to you?
    • How would you repay the debt?
    • Even if you could borrow, the interest accelerates your debt!
  • Family?
    • Are they able and willing to help?
    • How long before they would be financially stressed?
    • What would their assistance do to family relationships?
  • Friends?
    • Same issues as family assistance.
  • Charity?
    • Which ones?
    • How much could they assist?
    • How long could they assist?
  • Liquidate Assets and/or Accounts?
    • Which ones?
    • What are market conditions?
    • What is the tax impact?
    • How will you replace those assets if you or your family needs them?
  • Insure your income prior to a disability?
    • Improves the possibility of borrowing, if necessary
    • Minimizes the need for financial assistance from family, friends, or charity
    • May allow you to keep assets/accounts that would otherwise need to be liquidated
    • Preserves retirement funds for you and financial security for dependents
    • Premiums are impacted by age, gender, health, occupation, avocations, waiting period, duration of benefit, amount of benefit, and riders such as automatic inflation increases or guaranteed purchase options.

Ultimately, it is your health that allows this preferred solution.  To more clearly see how this major life change will profoundly impact your retirement goals and lifestyle, participate in the secure, interactive financial planning lab that seems most appropriate for your current stage in life.

Retirement Planning

Retirement is one of the most significant changes in your life.  How will your lifestyle be impacted?  What will you do with your remaining lifetime?  The many aspects of this major transition can be overwhelming.

Transition Planning, Inc. can help you methodically consider the critical details so you can make informed decisions for a more positive outcome potential.  These are the services offered:

  • Discussion of retirement date and lifestyle goals
  • Review of employer retirement benefits
    • Deferred Compensation Plan
    • Stock Option Strategy
    • Pension Payout Option Analysis
    • 401(k), 403(b), 457 Plan, etc. options
    • Other Key Employee Benefits
  • Health Insurance Review
  • Determination of optimal Social Security Income start date
  • Summary of all Income Sources
  • Discovery of Values-based Goals (Who do you want to benefit and why?  What do you want to happen?)
  • Summary of Prioritized Goals with
    • Time frame
    • Money needed
  • Feasibility Analysis for achieving goals
  • Existing Portfolio Asset Allocation
  • Investment Risk Analysis
  • Current Balance Sheet
  • Asset Ownership Review
  • Beneficiary Designation Review
  • Analysis of current situation (What may happen without changes?)
  • Consideration of special needs (Parents, Children, Grand-Children, Health Issues, etc.)
  • Discussion of Income Tax Control Options
  • Proposed Investment Policy Statement
  • Evaluation of options for Transitioning Out of a Business

Planning ahead several years in advance of this important transition can produce a more positive experience.  No matter where you are in the process, some professional input can be helpful.  You may also have friends or relatives who could benefit from these services.

To more clearly see how this major life change will profoundly impact your retirement goals and lifestyle, participate in the secure, interactive financial planning lab that seems most appropriate for your current stage in life.

Long Term Care Funding

Have you seen or heard about the impact on the families of friends or relatives that have suffered through an extended illness or devastating accident?  What happened to their lifestyle and resources?  How much was left to support the surviving spouse?

Including long-term care insurance in your financial plan can help you protect your assets so your surviving spouse still has resources to last his/her lifetime.  It can also help family members with the physical, emotional, and financial stress of caring for you while enabling you to receive the level of care needed in the setting you most prefer, including your home.

Some practical issues you might consider are:

  • Is there a medical history in your family that may indicate a greater probability that you could need extended care?
  • Where would you like to receive care?
    • At home?
    • In an assisted living community?
    • In a nursing home?
  • Who will take care of you if you need extended care?
  • How long might your caregiver be physically able to care for you?
  • What career or lifestyle changes might your caregiver(s) need to make to care for you?
    • How will this impact their financial future?
  • What is the average cost of the different levels of extended care in your area?
  • How long might you need extended care?
  • How much have you set aside for this contingency?
  • What resources would you draw from to cover these expenses?
    • How will your income tax be impacted? For example, drawing from your IRA to cover these expenses can increase your cost by 30% because of taxes on the distributions.
  • Can you still qualify for long-term care insurance?
  • Does your employer offer a basic long-term care benefit that you can keep after employment?

Planning ahead for this major expense can make a world of difference for your surviving spouse and family, and ultimately how you will be remembered.  Why not create a more positive legacy by having a secure plan in place to cover extended care?

The sooner you get started on a funding plan, the more options will be available to your family. To more clearly see how this major life change will profoundly impact your retirement goals and lifestyle, participate in the secure, interactive financial planning lab that seems most appropriate for your current stage in life.

 

Legacy Planning Services

How do you want to be remembered?  How will you be remembered?  If there is a difference in those answers, the following services may be helpful:

  • Discovery of values-based goals (Who do you want to benefit and why?  What do you want to happen?)
  • Net Worth Statement
  • Review of existing estate distribution including
    • Beneficiary Arrangements
    • Ownership Arrangements
    • Trusts
    • Wills
  • Estate Flow Chart in both Assets and Value
  • Analysis of current situation (What may happen - without changes?)
  • Consideration of special needs
  • Estate Tax Estimation
  • Recommendations to consider
  • Collaborative Referral to other professionals as needed resulting in:
    • Summary of Primary Estate Distribution Goals
    • Reviewed/Updated Will(s)
    • Reviewed/Updated Living Wills
    • Reviewed/Updated Trust Agreements
    • Reviewed/Updated Powers of Attorney
    • Correct Beneficiary Designations for Qualified Plans, IRAs, Roth IRAs, Life Insurance, Annuities, etc.
    • Correct Ownership Arrangements on accounts, property, business, and other assets
    • Reviewed/Updated Business Agreements for disposition of business interests in the event of
      • Disability
      • Divorce
      • Retirement
      • Death
      • Business failure
      • Hostile takeover
      • Natural disaster or Man-made disaster
    • Establishment of final arrangements so survivors don't have to in their time of grief
    • Appropriate communication with Trustees, Executors, and Guardians prior to a triggering event including:
      • Conceptual understanding of primary goals
      • Review, understanding and acceptance of rolls and responsibilities
      • Cooperation on a plan of action to work together towards the primary family legacy objectives

Tomorrow is not guaranteed.  Why not take steps today to ensure your legacy is protected. To more clearly see how this major life change will profoundly impact your retirement goals and lifestyle, participate in the secure, interactive financial planning lab that seems most appropriate for your current stage in life. 

 

Loss of Your Loved One

The loss of your loved one by any means is the most traumatic event in life, evoking powerful emotions and possibly changing your life forever.  Grieving your loss is hard work, and you may find help with this process in the Featured Links of our Resources tab.

The myriad of details to take care of can seem overwhelming and difficult to accomplish in the fog of stress you may be experiencing.  Having a trustworthy, experienced professional walk you through these details may help you avoid serious financial mistakes that can cause even greater loss.

Transition Planning, Inc. offers a checklist of prioritized details to help you take care of the things that must be done, and sound advice throughout this difficult time.  In addition to this detail list, we will help you with the following:

  • Discovery of your values-based goals (Who do you want to benefit and why?  What do you want to happen?)
  • Updated Net Worth Statement
  • Review of existing estate distribution including
    • Beneficiary Arrangements
    • Ownership Arrangements
    • Trusts
    • Wills
  • Estate Flow Chart in both Assets and Value
  • Analysis of current situation (What may happen - without changes?)
  • Consideration of special needs
  • Estate Tax Estimation
  • Recommendations to consider
  • Collaborative Referral to other professionals as needed resulting in:
    • Summary of Primary Estate Distribution Goals
    • Reviewed/Updated Will(s)
    • Reviewed/Updated Living Wills
    • Reviewed/Updated Trust Agreements
    • Reviewed/Updated Powers of Attorney
    • Correct Beneficiary Designations for Qualified Plans, IRAs, Roth IRAs, Life Insurance, Annuities, etc.
    • Correct Ownership Arrangements on accounts, property, business, and other assets
    • Reviewed/Updated Business Agreements for disposition of business interests in the event of
      • Disability
      • Divorce
      • Retirement
      • Death
      • Business failure
      • Hostile takeover
      • Natural disaster or Man-made disaster
    • Establishment of your final arrangements so survivors don't have to in their time of grief
    • Appropriate communication with Trustees, Executors, and Guardians prior to a triggering event including:
      • Conceptual understanding of primary goals
      • Review, understanding and acceptance of rolls and responsibilities
      • Cooperation on a plan of action to work together towards the primary family legacy objectives

Verify today that your plan will work, as you want it to.  To more clearly see how this major life change will profoundly impact your retirement goals and lifestyle, participate in the secure, interactive financial planning lab that seems most appropriate for your current stage in life.

 

Being Ready for Your Own Death 

Psalm 14:1-3             Don't be a fool.

The fool says in his heart, "There is no God." They are corrupt, their deeds are vile; There is no one who does good.  The Lord looks down from heaven on the sons of men to see if there are any who understand, any who seek God.

All have turned aside, they have together become corrupt; there is no one who does good, not even one.

Isaiah 45:21             There is only One God.

Declare what is to be, present it - let them take counsel together.  Who foretold this long ago, Who declared it from the distant past?  Was it not I, the Lord?  And there is no God apart from MeA RIGHTEOUS GOD and A SAVIOR; there is none but me.

Isaiah 45:22             God wants to save you.

"Turn to me and be saved, all you ends of the earth; for I AM GOD, and there is no other.

Isaiah 59:1-2            Your sins have separated you from God.

Surely the arm of the Lord is not too short to save, nor his ear too dull to hear.
But your iniquities have
separated you from your God; your sins have hidden his face from you, so that he will not hear.

1 John 1:8-2:2          You can be forgiven!

If we claim to be without sin, we deceive ourselves and the truth is not in us.
If we confess our sins, he is faithful and just and will forgive us our sins and purify us from all unrighteousness.  If we claim we have not sinned, we make him out to be a liar and his word has no place in our lives.
My dear children, I write this to you so that you will not sin.  But if anybody does sin,
we have one who speaks to the Father in our defense -
Jesus Christ, the Righteous One.  He is the atoning sacrifice for our sins, and not only for ours, but also for the sins of the whole world.

John 11:25                Who is Jesus?

Jesus said to her, "I am the resurrection and the life.  He who believes in me will live, even though he dies; and whoever lives and believes in me will never die.  Do you believe this?"

John 8:23-24

But he continued, "You are from below; I am from above.  You are of this world; I am not of this world.  I told you that you would die in your sins; if you do not believe that I am the one I claim to be, you will indeed die in your sins."

Romans 3:20-28      God demands justice.

Therefore no one will be declared righteous in his sight by observing the law; rather, through the law we become conscious of sin.  But now a righteousness, apart from law, has been made known, to which the Law and the Prophets testify.  This righteousness from God comes through faith in Jesus Christ to all who believe.
There is no difference, for
all have sinned and fall short of the glory of God,
and are justified freely by his grace through the redemption that came by Christ Jesus.
God presented him as a sacrifice of atonement, through faith in his blood.
He did this to demonstrate his justice
, because in his forbearance he had left the sins 
committed beforehand unpunished - he did it to demonstrate his justice at the present time, so as to be just and the one who justifies those who have faith in Jesus.  Where, then, is boasting?  It is excluded.  On what principle?  On that of faith.  For we maintain that a man is justified by faith apart from observing the law.

Romans 5:1-2         You can have peace with God.

Therefore, since we have been justified through faith, we have peace with God through our Lord Jesus Christ, though whom we have gained access by faith into this grace in which we now stand.  And we rejoice in the hope of the glory of God.

Romans 5:6-10       God's powerful love.

You see, at just the right time, when we were still powerless, Christ died for the ungodly. Very rarely will anyone die for a righteous man, though for a good man someone might dare to die.  But God demonstrates his own love for us in this:  While we were still sinners, Christ died for us.

Since we have now been justified by his blood, how much more shall we be saved
from God's wrath through him!  
For if, when we were God's enemies, we were reconciled to him through the death of his Son, how much more, having been reconciled, shall we be saved through his life!

Romans 10:9-13      How can you be saved?

That if you confess with your mouth, "Jesus is Lord," and believe in your heart that
God raised him from the dead,
you will be saved.  For it is with your heart that you believe and are justified, and it is with your mouth that you confess and are saved.
As the Scripture says, "Anyone who trusts in him will never be put to shame."
For there is no difference between the Jew and Gentile - the same Lord is Lord of all and richly blesses all who call on him, for, "Everyone who calls on the name of the Lord
will be saved."

Isaiah 1:18               Sound reasoning.

"Come now, let us reason together," says the Lord.  "Though your sins are like scarlet, they shall be as white as snow; though they are red as crimson, they shall be like wool."

Romans 6:23           God's ultimate gift for you.

For the wages of sin is death, but the gift of God is eternal life in Christ Jesus our Lord.

John 3:14-18           Would you like to live forever?

Jesus said, "Just as Moses lifted up the snake in the desert, so the Son of Man must be lifted up, that everyone who believes in him may have eternal life.  For God so loved the world that he gave his one and only Son, that whoever believes in him shall not perish but have eternal life.  For God did not send his Son into the world to condemn the world, but to save the world through him.  Whoever believes in him is not condemned, but whoever does not believe stands condemned already because he has not believed in the name of God's one and only Son."

John 14:6               Are there any other ways to God?

Jesus answered, "I am the way and the truth and the life.
No one comes to the Father except through me.

Acts 4:10-12          What about other gods?

then know this, you and all the people of Israel: It is by the name of Jesus Christ of Nazarethwhom you crucified but whom God raised from the dead, that this man stands before you healed.  He is "'the stone you builders rejected, which has become the capstone.'  Salvation is found in no one else, for there is no other name under heaven given to men by which we must be saved.

1 John 4:7-9          How can you know the true God?

Dear friends, let us love one another, for love comes from God.
Everyone who loves has been born of God and knows God.
Whoever does not love does not know God, because God is love.

This is how God showed his love among us: He sent his one and only Son into the world that we might live through him.

1 John 4:10-11       What is love?

This is love: not that we loved God, but that he loved us and sent his Son as an atoning sacrifice for our sins.  Dear friends, since God so loved us, we also ought to love one another.

1 John 3:16            To what extent should we love each other?

This is how we know what love is: Jesus Christ laid down his life for us.
And we ought to lay down our lives for our brothers.

1 John 3:10            Who are our brothers?

This is how we know who the children of God are and who the children of the devil are:  Anyone who does not do what is right is not a child of God; nor is anyone who does not love his brother.

1 John 5:1-5          How can you become a child of God?

Everyone who believes that Jesus is the Christ is born of God,
and everyone who loves the father loves his child as well.
This is how we know that we love the children of God: by loving God and 
carrying out his commands.  This is love for God: to obey his commands.

And his commands are not burdensome, for everyone born of God overcomes the world.  This is the victory that has overcome the world, even our faith.
Who is it that overcomes the world?  Only he who believes that Jesus is the Son of God.

1 John 3:23-24a     What does God command?

And this is his command:  to believe in the name of his Son, Jesus Christ, and to love one another as he commanded us.  Those who obey his commands live in him, and he in them.

1 John 4:15            How near is God?

If anyone acknowledges that Jesus is the Son of God, God lives in him and he in God.

1 John 3:24b          How can you know that God lives in you?

And this is how we know that he lives in us:  We know it by the Spirit he gave us.

1 John 4:2-6           How can we recognize the Spirit of God?

This is how you can recognize the Spirit of God:  Every spirit that acknowledges that Jesus Christ has come in the flesh is from God, but every spirit that does not acknowledge Jesus is not from God.  This is the spirit of the antichrist, which you have heard is coming and even now is already in the world.

You, dear children, are from God and have overcome them, because the one who is in you is greater than the one who is in the world. They are from the world and therefore speak from the viewpoint of the world, and the world listens to them.  We are from God, and whoever knows God listens to us; but whoever is not from God does not listen to us. This is how we recognize the Spirit of truth and the spirit of falsehood.

1 John 2:22-23       Don't be a liar.

Who is the liar?  It is the man who denies that Jesus is the Christ.  Such a man is the antichrist - he denies the Father and the Son.  No one who denies the Son has the Father; whoever acknowledges the Son has the Father also.

1 John 5:11-13       How can you know that you are saved?

And this is the testimony:  God has given us eternal life, and this life is in his Son.   He who has the Son has life; he who does not have the Son of God does not have life.  I write these things to you who believe in the name of the Son of God so that you may know that you have eternal life.

Romans 8:32-39     What can separate you from God's love?

He who did not spare his own Son, but gave him up for us all - how will he not also,
along with him, graciously give us all things?  Who will bring any charge against those whom God has chosen?  It is God who justifies.  Who is he that condemns?

Christ Jesus, who died - more than that, who was raised to life - is at the right hand of God and is also interceding for us.  Who shall separate us from the love of Christ?
Shall trouble or hardship or persecution or famine or nakedness or danger or sword?
As it is written:  "For your sake we face death all day long; we are considered as 
sheep to be slaughtered."  No, in all these things we are more than conquerors through him who loved us.  For I am convinced that neither death nor life, neither angels nor demons, neither the present nor the future, nor any powers, neither height nor depth, nor anything else in all creation, will be able to separate us from the love of God that is in Christ Jesus our Lord. 

What does it profit a man to gain the whole world and lose his own soul?  Are you ready to leave it all behind?  Eternity is much longer than this lifetime.  Have you made things right with your Maker before you go to see Him by acknowledging that you are a sinner in need of his grace, thanking Him for the only solution He offers, and putting your faith in Jesus Christ as your personal Savior?  May you discover the joy of a personal relationship with the true living God before your last breath takes you into eternity!

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