Capital Consulting Group NC was founded after seeing the estate planning and insurance needs of our clients.

We provide complete planning for those entering retirement. Our services include, but are not limited to:

MEDICAL PLANNING

We look for ways to assist our clients in protecting their assets during the difficult times of failing health, when so much of their life savings can be used up dealing with the expensive health care costs. We are up-to-date with current laws within our state and can assist with ways to help protect assets or provide the funds to pay for them.

INCOME PLANNING

How much income you need and when to start taking it will vary greatly from person to person, depending on many factors. We are experts in helping you determine how much additional income you will need in retirement to go along with the fixed income that is already coming in. Above all, we specialize in setting up income streams you can never outlive and, in many cases, leave all or most of your principal intact.

There are several realities that you must acknowledge when determining how much money you need.

  • Due to taxes, the amount of money you have in your retirement accounts is a lot less than you think.
  • The money you have when you start retirement is perhaps the most money you will ever have.
  • You will probably live a very long retirement.
  • Your expenses will not go down in retirement.
  • Inflation will cause you to spend more than you anticipate.
  • The financial markets generate only limited rates of return.

LEGACY PLANNING

This too will vary depending on what your ideas and goals are. However, we can HELP set up a plan designed for complete wealth transfer to your loved ones without limiting your asset and income needs now. Please note that concerning your IRA and 401K accounts that you plan on leaving to non-spousal beneficiaries, the IRS has firm rules and regulations on how those funds are to be passed and how they are to be titled. If not handled correctly, they risk full taxation on those funds. The IRS generally does not accept do-overs, we have years of making sure those types of accounts go to your “intended heirs” and not to Uncle Sam. We make sure it is done right the first time and children have access to their inheritance for a lifetime.

DOWNLOAD IRS PUBLICATION 590

PROBATE

We work with local attorneys and CPAs that assist us with helping to avoid probate. We can help with all of the legal documents you may need and determine if a trust is needed or if a Simple IRA can do the job. Start with someone who can guide you through the process with ease. Your starting point would be to contact Capital Consulting Group NC, Inc.

CLICK TO EXPAND THE PROBATE DETAILS BELOW FOR MORE INFO

COST

Attorney’s fees, executor’s fees and advertising all account for charges that can add up to 10% to the cost of probate. The executor can charge up to 5% of the state value. In addition, taxes can take up to 55% of some assets if planning is not done properly.

TIME

If everything goes smoothly it can be as quick as a couple of months. It has been estimated that the average is a little over nine months. Probating an estate while one of the spouses is still living goes much quicker. When you pass assets out of the marriage union it can take considerably longer.

PUBLIC

The process includes public announcements and a court process. Therefore, anyone can have access to the information. A simple trip to the courthouse or as in some states, you can pull the information up on the computer in your living room.

CONTESTABLE

At anytime during the probate process, anyone can contest the ownership of the deceased assets. Once a claim is filled out all assets are frozen and each side (the one making the claim and the executor of the estate) must prove their side, to carry out the transfer of the estate. Once this happens the other three issues can increase dramatically.

LIFE INSURANCE FOR THE LIVING

Life insurance is so much more than a death benefit; life insurance is for the living. This has been the vehicle for thousands of people to maximize the estate they leave for their loved ones, to provide for the charities that are important to them, to provide income that is not taxed, and pass-along assets to their beneficiaries tax-free. Guess what? It can be for you as well. We have access to cutting-edge insurance plans that do this and more. The most important thing you can do is to GET STARTED.

MOST TRADITIONAL PLANS (401k’s, ira’s, sep’s)

  • Fees (costs more)
  • IRS Control
  • Retirement income is TAXED
  • Market Risk (no protection of your money)
  • 10% penalty to get your money before age 59.5
  • Limited Contributions
  • Nothing extra at death of retiree except taxes

LIFE INSURANCE

  • No Fees (costs less)
  • No IRS Control
  • Retirement income is TAX FREE
  • Market Gains (your money guaranteed)
  • No 10% penalty to get your money before age 59.5
  • Unlimited Contributions
  • Double or triple value at death of retiree tax-free