Ian Filippini Santa Barbara Looking Forward To Retire Overseas? – Here Are Some Place You Cannot Miss!

Ian Filippini Santa Barbara

Ian Filippini Santa Barbara

Ian Filippini Santa Barbara

Looking Forward To Retire Overseas? – Here Are Some Place You Cannot Miss!

Find out more about author Ian Filippini on 

Ian Filippini Santa Barbara knows that choosing where you wish to spend your retirement years is one exciting choice to make! However, hundreds of considerations come along, like cost of living, the budget and if you are actually getting the perfect value for your money! An ideal retirement is living in a place where you can have a rich life, filled with the company of your loved ones and it should be a place where you always wanted to be or something close to that!

Ian Filippini Santa Barbara from Filippini Financial Group in Santa Barbara is among the top financial advisors and he can guide you in making a sound retirement decision. Although you can go somewhere in the United States, but where’s the fun in that, right? If you are looking forward to spending a fun and adventurous life in a heavenly place, you will most certainly choose one out of these:

Italy

Although the costs of living in Rome, Venice or Florence MIGHT go beyond most retirement budgets that doesn’t necessarily mean you should consider taking Italy off your retirement list. If this is the country where you always wanted to be, something can always be figured out. For an affordable option, you can check out Abruzzo, and begin with exploring the coastline and the mountains.

France

A country with the world’s most beautiful and loved filled capital is something most people can’t afford to miss! France boasts some of the world’s best wines, parks, malls, clubs, museums, and tons of architecture that will have you believe you’re dreaming! Even if you have a small retirement budget, chances are you will be able to find something in France. The best options are to go to the Southwest, where small towns give you the perfect affordable lifestyle.

Spain

Known for its mesmerizing coastlines and beaches, Spain is the perfect place to retire! With places like Costa del Sol and Barcelona, a city on the ocean, you can be sure to have a serene cosmopolitan life near the ocean. Moreover, the best part is that you can find an affordable home here that doesn’t go out of your retirement plan!

Croatia

If you and your spouse love to be in between unspoiled nature and rich history then you will definitely love Croatia! The Istrian Peninsula offers some of the most appealing and delightful views while the coastlines are all lined with amazing beaches. The architecture here is largely made of red clay and white stone, the land is green and rich in agriculture.  Croatia certainly is one of the most desired retirement destinations.

Thailand

Looking for a cheap but sophisticated lifestyle? Thailand is the place to be! Thailand is also one of the few countries in the region that offer flexible options for retirees. Over 15% foreigners make up the entire population of retirees and with options like 13 golf courses, rich culture, amazing cuisine and a high quality of life, the number of foreign retirees is expected to increase in the coming years.

Malaysia

After Thailand, Malaysia is the next easiest country to retire to. The capital here, Kuala Lumpur is among the most successful and most developed cities in the world, with architectural wonders like Petronas Towers, two of the tallest skyscrapers in the world. There are a large number of malls and each place boasts technology and great infrastructure. However, if you are more of a nature lover, there is still something for you in Malaysia, like the village of Kampung Baru, which has a rural touch to it.

Unlike some places in Asia, foreign retirees are more than welcomed in Malaysia and the government offers certain visa benefits, which allows retirees to spend the rest of their time conveniently. Ian Filippini Santa Barbara from Filippini Financial Group in Santa Barbara explains that all you need to go to Kuala Lumpur is good English and a tourist’s visa, which can be easily extended for a long stay there.

Ian Filippini says that the top considerations while looking for a place to retire should be the quality of life, the budget and the amenities present in the destination. If you are more of an outgoing, adventurous person, then places like Italy and France will surely be perfect for you. On the other hand, if you like to be surrounded by nature and greenery then the best place would be Croatia or Thailand! Think well and plan ahead!

For the best retirement plans, be sure to consult Ian Filippini from Filippini Financial Group in Santa Barbara!

Ian Filippini Santa Barbara Is A Will Necessary? Most Certainly!

Ian Filippini Santa Barbara

Ian Filippini Santa Barbara

Ian Filippini Santa Barbara

Is A Will Necessary? Most Certainly!

Find out more about author Ian Filippini on 

Ian Filippini Santa Barbara knows that it’s not out of the question that living in Santa Barbara for the past 30 years, one day you are sitting on the beach, soaking up the sun, sipping your beer and talking to your wife, while your kids throw ball. All of a sudden, some thoughts start troubling you – Do I have a will? Do I need to have one? Who will take care of my wife and kids when I am gone?

These are some of the questions most of us have to answer for ourselves, but the most logical approach to these mind boggling questions is – get off the couch, call a reputable wealth management professional in Santa Barbara, like Ian Filippini Santa Barbara from Filippini Financial Group, and get your will created today!

Wondering why you need a will? The question you should ask yourself is: Why won’t you need one? If you have a good investment portfolio, with a number of valuable Santa Barbara real estate properties lined up, don’t you want to decide what will happen to it when you are gone just like the way you care for it now? Ian Filippini explains, popular to contrary belief, making a will is not really about planning for your death as most people think of it, rather, it is a way to have your peace of mind in your elder years by knowing that everything is in perfect order!

The Filippini Financial Group gives the following reasons that make it essential for you to have a will:

Children And Spouse

If you have children and a spouse, you have a responsibility on your shoulders that needs to be taken care of by you only. Making a will helps you define who will get what and how much. Moreover, if you don’t have a spouse, you will need to specify a guardian for your children in your will, who will then make sure that your children get what you left for them when they are of legal age.

You Can Make Personal Decisions With Your Wealth

If you don’t have a family, or you would like to dedicate your wealth somewhere else, with a will, you are at total liberty to do it. You can gift personal assets to the desired persons, charities, or anyone you like!

Let Those Who You Trust Handle Your Estate

Ian Filippini from Filippini Financial Group in Santa Barbara explains that the best advantage of having a will is that you can select the most trusted and capable people to handle your assets. This could be your spouse or any other partner!

Taxation Benefits

Ian Filippini Santa Barbara explains that one of the usual perceptions about will making is also that it is solely to avoid taxes. However, it is not. You can reduce the inheritance tax, but more importantly, a will makes it easy to identify who should pay the tax and how, so that your assets don’t end up selling to fund payments.

Giving To People Who You Are Living With

If you are living with someone you are not married to, you should know that they are not eligible to get a single piece of your assets until and unless you mention it on your will.

Susceptible Beneficiaries

If you feel that some of your beneficiaries might be too vulnerable, you can create a Trust for them using your will. This way you will be able to ensure their financial safety, and make sure they won’t be facing any sort of problems later.

Time Your Asset Distribution

If you have really young children, and you feel that passing on your wealth to them at a young age would not really be a good idea, you can time your asset distribution. This means you can define the age of your children on the will, when you would like them to take ownership of your assets!

Ian Filippini from Filippini Financial Group gives clients in Santa Barbara easy and convenient options to get your will created. As important as a will is, says Ian Filippini, it is more important to know when you should consult a lawyer. You should consult a lawyer for your will when:

  • When you start questioning yourself about your wealth and how it will be distributed.
  • You expect to leave back a large amount of assets and you expect that it will taxed.
  • You are a small to medium business owner and you have questions regarding the rights of beneficiaries or living owners.
  • You fear that your family or children are vulnerable and you need to have a proper plan in place.

Still wondering? Contact Ian Filippini at Filippini Financial Group in Santa Barbara and get your will created today!

Living Trusts

What exactly is a living trust?  I’m not sure that most people truly know what a living trust is or what its purpose is.  In this article I will briefly discuss just this.  A living trust would definitely be something to bring up when discussing financial advice with your financial consultant.

When you create a trust, you put something of worth and importance into it.  While you are alive, you have complete control over this trust (or someone else if you choose). When you die, whomever you’ve chosen to receive the property in the trust will get it.  You may want to discuss who this person or persons may be when getting financial advice from a professional.

There are five basic steps to creating a living trust.  A trustee must be appointed, and usually this will be you.  You must also appoint a successor trustee.  This person would take the place of distributing items and property to your beneficiaries in the event of your death.

Of course you must specify exactly what property will be included in the trust.  It is best to be as specific as possible on this part of the trust.  It will be easier to disperse later if this is the case.

The next thing that must be included in your living trust is who the beneficiaries are.  This is especially important to bring up when seeking financial advice about your living trust.  Have several conversations about it to be sure you are making the right decisions.

The last things that need to be incorporated into your living trust document are any other terms or conditions that you may want to include; again, this financial advice should come from your personal financial consultant because everyone’s situation and needs are different.

Talk about a living trust in addition to a will when seeking out financial advice in your estate planning process.

Ian Filippini, the current president of Filippini Financial Group, Inc., has written a number of articles relating to real estate, tax, asset protection, financial advice insurance, and estate planning. Filippini Financial Group, Inc. and Ian Filippini have spent many years using their unique expertise and hands on approach to provide value to hundreds of retirees and pre-retirees in many areas of wealth management.

Filippini Financial Group, Inc. is located on Coast Village Road in Montecito, California. Filippini Financial Group, Inc. was originally founded by Ian Filippini’s late father Alfred Filippini. Ian Filippini’s mother, Deborah Filippini, and brother, Alex Filippini, moved to the Montecito and Santa Barbara area.

No advice is given or intended to be provided.  This article is not to be considered legal advice.  Filippini Financial Group, Inc. is not a law firm and Ian Filippini is not an attorney.

Types of Wills

When you think of a will, you generally think of a typed document that lists out who gets what of your stuff when you die; just another piece to incorporate into your estate planning process.  This could in fact be true for you, but there are actually several different types of wills.  In this article, I will briefly talk about handwritten wills, pour-over wills, and statutory wills.  Talk with your financial consultant about which type of will is best for you when discussing your estate planning.

First I will discuss handwritten wills.  These types of wills are usually not encouraged in any estate planning process, no matter how much or how little amount of property you have to leave.  To be valid they must be dated, signed and written in the handwriting of the person leaving the will.  Judges have a hard time initially accepting handwritten wills because they could so easily be forged.

A pour-over will is when all property listed in the will is deposited directly into the person’s living trust.  Whoever controls the assets of the living trust, now also controls the property from the will.  If you choose to leave this type of will, reviewing your living trust will also be an important part of your estate planning.

The last type of will I will discuss is a statutory will.  This type of will is literally a fill in the blank.  These wills are easy and usually inexpensive to create.  A downside to a statutory will is that there are not many choices of how to leave your cash and gifts; it is literally a form to fill out that cannot be altered to better suite your estate planning needs.

Consider all types of wills during your estate planning to make sure you make the right choice for you and your estate!

Ian Filippini is not an attorney.  Filippini Financial Group, Inc. is not a law firm. No advice is intended to be given or actually given.  This article is not to be considered legal advice. Please contact your local attorney if you have any legal questions.

Ian Filippini, the current president and main decision maker of Filippini Financial Group, Inc., has written a number of articles. Most of the articles are issues or problems relating to real estate, insurance, tax, asset protection, financial advice, and estate planning. Filippini Financial Group, Inc. and Ian Filippini have spent many years using their unique expertise and hands on approach to provide value to hundreds of retirees and pre-retirees in many areas of wealth management.

Filippini Financial Group, Inc. was originally founded by Ian Filippini’s late father Alfred Filippini. Filippini Financial Group, Inc. is located on Coast Village Road in Montecito, California. Ian Filippini’s mother, Deborah Filippini, and brother, Alex Filippini, moved to the Montecito and Santa Barbara area.

Disinheritance: The D Word

Disinheritance can be thought of as a dirty word, but it really is smart to talk about with your financial consultant.  Disinheriting someone can be as simple as just not leaving them anything when you die.  By law, only your wife and children will have any legal claim to your property once you are gone.  In this article, I will briefly discuss the main ins and outs of disinheritance: disinheriting a spouse, and disinheriting children.  As always, you should check with your financial consultant before making any final estate planning decisions.

Depending on where in the United States you live, you may not be legally able to disinherit your spouse.  There are 41 states, and the District of Colombia that do not allow you to disinherit your spouse. (Discuss with your financial consultant if you live in one of these states or districts).  In these areas, the law does not care about your wishes for your property, and will allow your spouse to claim a considerable amount of your estate.  There is an exception to this: you can have your spouse waive their rights in a document called a marital property agreement.

On the opposite end of the spectrum, in community property states the situation is much different.  In community property states neither spouse has the legal right to inherit any of the other spouse’s property, so disinheritance is not an issue.  Your personal financial consultant can tell you what the laws are in your specific state.

To disinherit children from any of your property it is important to state this specifically in your will.  Just leaving a child out of your will still gives them legal cause to contest that will.  You do not have to give a reason in the will as to why the child will not receive any part of your estate, but you much mention it. As always, before making any estate planning decisions, contact your financial consultant.

Ian Filippini, the current president of Filippini Financial Group, Inc., writes many different types of articles relating to real estate, insurance, tax, asset protection, financial advice, and estate planning. Filippini Financial Group, Inc. and Ian Filippini have spent many years using their unique expertise and hands on approach to provide value to hundreds of retirees and pre-retirees in many areas of wealth management.

Filippini Financial Group, Inc. (originally founded by Ian Filippini’s late father Alfred Filippini) is located on Coast Village Road (just outside Santa Barbara) in Montecito, California. Ian Filippini’s mother, Deborah Filippini, and brother, Alex Filippini (also did work for Filippini Financial Group, Inc), moved to the Montecito and Santa Barbara area.

No advice is given or intended.  This article is not to be considered legal advice.  Ian Filippini is not an attorney.  Filippini Financial Group, Inc. is not a law firm.

Estate Planning FAQ’s

-What is an Estate Plan?

The creation of a plan to carry out and complete the wishes as to the administration or disposition of their property before or after death.

 

-Are all estate plans the same?

Some estate plans may use similar tools and vehicles to create the overall estate plan. However, no two estate plans are the same. Each person’s beliefs, net worth, beneficiaries and family situations are different from one another. This causes massive difference between even the most similar looking estate plans.

           

-Who needs an estate plan?

Anyone who owns or has the rights to something they value and would like passed onto future generations would be interested in having an estate plan. The rich and famous are known to create estate plans, but the “Common Joe” also has access to the estate planning concept.

 

-Who can have an estate plan?

There is not a minimum age or maximum age for an estate plan. Once you are dead, it is impossible to create an estate plan and have them execute the document. An estate plan can even be owned by a person for the benefit of an animal.

 

-Who creates an estate plan?

Depending on the structure and goals, an attorney will draft the actual documents with input from their financial and tax professionals. When using an attorney, it is best to use a local attorney or a least one within your state that understands that state’s unique laws and probate procedures.

 

-How long do I keep my estate plan?

An estate plan is usually kept for the life of the individual for whom it was written. If the estate plan spans over multiple generation, it is a good idea for it to be kept for as long as generations are still claiming benefits from the estate plan.

 

 -Where do I keep my estate plan?

It is best to keep your estate plan somewhere safe. The original should be placed in a home fire-proof safe or a safety deposit box in the bank. You can then keep copies of your estate plan inside your home files. It is also a good idea to place your health care directive in the glove box of your car (also have the person appointed do the same). This helps when you receive that phone call to go to the hospital, you do not have to think about grabbing it and bringing it to the hospital.

No advice is given or intended.  This article is not to be considered legal advice.  Ian Filippini is not an attorney.  Filippini Financial Group, Inc. is not a law firm.

Estate Planning: Durable Powers of Attorney

Most of us have all heard of estate planning. But do we actually know what it is? Estate planning is often used by the rich and the famous; however, it is not just for them. Anyone that has something they value and care about what happens to it after their death; they need an estate plan. Keep in mind that an estate plan is much more than just a trust or a will. It is a plan that will take into consideration all of the tax and legal ramifications that may arise during the settlement of an estate. Some parts of estate planning includes trusts, wills, powers of attorneys, advanced health care directives, property ownership, property titling, beneficiary designations, powers of appointment, financial durable power of attorney, personal durable power of attorney, and medical durable power of attorney. An important note to remember is that estate planning does not just deal with your assets at the time of death, it deals with your personal needs before, up to and after your death. This can be accomplished by drafting and appointing a durable power of attorney for personal, medical and/or financial decisions.

A durable power of attorney can be used for the benefit of an individual that needs help making their financial decisions for them. This is a good position for a financial professional (financial planner, accountant, bookkeeper, attorney, CPA, etc.) or someone good with money that can help keep their life and estate on the right track. That same person for the financial power of attorney might be great at financial decisions, but could be disconnected from your personal life and could make horrible personal or medical decisions. Sometimes we need a little more compassion or bed side manner than a financial professional can provide us. For medical or personal affairs, those appointed for a durable power of attorney should also be someone you trust and are also comfortable with handling intimate medical decisions and other questions on how to best care for you. This position is usually best for a family member, spouse or longtime friend of the family. Take the time to research the responsibilities of each person so you can make an informed decision.

No advice is given or intended. Please contact your legal counsel if you are considering drafting any legal documents. Ian Filippini is not an attorney and Filippini Financial Group, Inc. is not a law firm.

Ian Filippini and his younger brother both worked for Filippini Financial Group, Inc. They live in the Santa Barbara and Montecito area (located in the northern part of Southern California). They were raised by their father, Alfred Filippini (passed away in 2009), and mother Deborah Filippini.

OCC accused of Bankruptcy Fraud through Asset Protection

If someone decides to file bankruptcy and create an asset protection plan; they had better take it seriously. Just the thought of someone being dishonest or holding back the truth in a bankruptcy and asset protection plan put everything at risk. Even the big boys that hire large legal teams to help execute their asset protection plan in bankruptcy are under the watchful eye. Whether there is merit to it or not, take a look at the guys from Orange County Choppers in New York. Orange County Choppers from the hit TV show, American Choppers, has been accused of bankruptcy fraud because of their asset protection plan. That’s right, Paul Sr. and Paul Jr. had a complaint filed against them in 2007 by the U.S. Bankruptcy Court. No Joke! If this can happen to two TV stars that (that supposedly planned this all out and paid a lot of money for) think of what can happen to someone like you in their situation.

The complaint was very serious and accused Paul Sr., Paul Jr., and his brother of creating a fraudulent asset protection plan and fraudulent bankruptcy filing of an old company in order to avoid paying debts owed by said company (Orange County Choppers). It is focused on the steel fabrication business that was in force long before the show was ever a hit or even an idea in a producer’s head. The meat of the complaint states that they bankrupt one company and sold the assets to their new company. This issue was that there was no fair compensation for the assets that were liquidated, essentially leaving the creditors out in the cold. The Teutuls attorney let it be known that no assets were moved from one company to the next, but they were in fact purchased. That part of the asset protection plan will be debated heavily in the bankruptcy court. We are not reviewing this case to show what they did wrong or even say it was wrong. That is not our place. The issue to focus on here that if there is some doubt about the legality or honesty of your plan, get ready to deal with the bankruptcy court. It is because of this, it always best to be overly honest and delete any notions out of the bankruptcy court’s mind that anything wrong is going on.

No advice is given or intended.  This article is not to be considered legal advice.  Ian Filippini is not a bankruptcy attorney.  Filippini Financial Group, Inc.is not a law firm.

Ian Filippini’s was born and raised in the sunshine state, a.k.a. California. His parents, Alfred Filippini (deceased) and Deborah Filippini, lived in the Montecito (Santa Barbara) area. Ian Filippini’s younger and larger brother, Alex Filippini, also worked for Filippini Financial Group, Inc.

Asset Protection with Offshore Accounts

We have all heard about hiding money in offshore accounts. The movies and media have let the world in the practice of using Swiss, Cayman Island, or Bahamas bank accounts for asset protection. Usually done by someone facing bankruptcy, a judgment, divorce or other creditors; this practice involves moving money away from their US accounts and placing them in the foreign country for asset protection from the Internal Revenue Services, Bankruptcy trustees or creditors. US taxpayers are required to file annual forms to the IRS detailing transfers and other trust activities that have occurred in offshore accounts. Some taxpayers, for example are facing bankruptcy, are willing to roll the dice and be less than forthcoming about their offshore accounts and activities. Some countries do not even necessarily enforce the reporting requirements and some it is the responsibility of the owner to stay current with all paperwork required by other foreign countries. Essentially advertising that they will not get involved (Wild West Anyone?). But this is very risky. A failure to even file the documents will cause a 5% penalty on the value of the assets in question. Not to mention a likely audit to follow with forensic accountants and Internal Revenue Service employees digging through all of the assets and financial records.

Aside from the Internal Revenue Service, bankruptcy courts, tax courts, or other creditors finding out about the offshore asset protection plan; there are other risks involved as well. We have seen major political unrest in many parts of the world. If a government were to be overthrown by its citizens, the banks could be reorganized and the new regime could decide to seize all bank accounts from the past regime. A natural disaster could cause the country with your assets to fall on hard times. If the country’s infrastructure were to collapse, so would the banking system. Is all of this risk really worth not being honest in the first place?

No advice is given or intended.  This article is not to be considered legal advice.  Ian Filippini is not a bankruptcy attorney.  Filippini Financial Group, Inc. is not a law firm.

Ian Filippini’s has a younger named Alex Filippini; their parents, Alfred Filippini (deceased) and Deborah Filippini, lived in the Montecito (Santa Barbara) area. Ian Filippini’s brother worked for Filippini Financial Group, Inc.

Hiring an Insurance Provider

The goal of estate planning is to make sure that you are taking care of the right people when you die. You need to establish who is going to help you as well as what it is you want each of them to accomplish. The last person you will need to find when you put your team together is your insurance provider.

Various people make up this team. You can choose to hire as many or as few as you would like with the goal of creating an effective plan that achieves all of your short-term and long-term goals. Some professionals can help with more than one aspect of this team. The key is to have someone who can do a great job in each area to minimize your risks.

When looking at estate planning, the last piece you will add to your estate planning team is the insurance provider. They are going to be, in essence, the lynchpin that ties everything together. He or she works with you to ensure you cover your risks. Often, people will use life insurance as a vehicle of giving beneficiaries benefits through an estate plan. This provider can help you to do that.

However, the real benefit of including an insurance provider on your estate planning team is that this provider makes sure your bases are covered so that if something should occur, it does not wipe out your entire life’s work. For example, should you face a civil suit or your business sues you , this insurance provider’s plans cover you so that your property and other assets are not seized as a result. The insurance provider will do just as they say—provide insurance and protection for your assets and all that you want handed down. Theyir main objective will be to  will protect and preserve your assets.

In order to be able to feel secure and know that your estate is being handled in the right way, you will need to make sure that you have all of the right professionals in place to help you. One option is to contact Ian Filippini of the Filippini Financial Group. They will be able to provide you with the help you need and give you guidance in regards to the professional you will choose.

Ian Filippini and his parents, Alfred Filippini (deceased) and Deborah Filippini, moved to the Montecito (Santa Barbara) area where Ian Filippini and his brother Alex Filippini enjoy taking their niece Aliana for ice cream.