A Father’s Day Gift That Will Last A Lifetime

West Palm Beach, FL (I-Newswire) June 14, 2011 - Fathers – Are you planning for the future?

With Father's Day just around the corner, on June 19, you might be thinking about your family. When you become a dad, one of the first things to consider is how you'll provide for your family now and into the future. This Father's Day, why not turn the tables and provide your family a gift – a gift that will last a lifetime. A financial plan.

Consider preparing a financial plan that focuses on protecting and providing for your family and their future. There are several strategies that families should consider. As always, consult with your advisors to determine what is right for you.

* Get your estate plan in order. If you currently have an estate plan, make sure your plan is up to date and takes advantage of the 2010 Tax Relief Act which provides a "two-year" window for financial gifts to children and grandchildren that are up to five times the previous exemption level before taxes. The level of tax-free gifts (cash, bonds, real estate, cash value of insurance policies) has been raised to $5 million and will expire in December 2012. Families should consult with their advisors now before the window of opportunity is gone.

* Protect your family with life insurance. The average life expectancy at birth was 75.1 years for American men and 80.2 years for women (according to the National Academy of Sciences Report). Considering women (on average) are outliving men, fathers should consider adding term or whole/universal life to their financial plan in order to provide for their family long after their death.

* Ensure your ability to provide for your family in spite of illness or injury. While you may think it will never happen to you, could you continue to meet your financial obligations if you were to become too sick or hurt to work? Almost one-third of Americans entering the work force today (3 in 10) will become disabled before they retire (Social Security Administration, Fact Sheet 2007). By purchasing a disability income insurance plan, it will replace a portion of your income if you become disabled and are no longer able to work.

It's hard to imagine, but the unexpected may strike at any time. Father's Day is the perfect time to consider your financial plan to protect your family's future. Having your estate and insurance plans in order means that you have prepared for your family's future and will have lasting peace of mind. For more information on how insurance can help protect your family, contact one of our experienced professionals by calling Alisa at (561) 689-1000.

Richard S. Bernstein & Associates, Inc. is an insurance advisor to high net worth business leaders, families and charitable organizations for over 40 years. As a widely recognized life and health insurance expert, Bernstein is a contributing source for national and local media as well as a regularly featured columnist for Palm Beach Society magazine.

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About Richard S. Bernstein and Associates:
Richard S. Bernstein and Associates specializes in wealth creation and preservation, group insurance and employee benefits and strategies for estate planning. Richard S. Bernstein advises many of America's wealthiest families, entrepreneurs, businesses and charitable organizations and has long been at teh leading edge of the insurance industry.

Company Contact Information
Richard S. Bernstein and Associates
Alisa Gazzillo
1551 Forum Place
Suite 300A
33401
Phone : 561-689-1000