Financing Your Child's Education
<p>Did you know that a four year degree at a public university may cost upwards of $100,000 in 18 years? That's bad news for new parents who expect their kids to go to school, but fortunately it isn't that hard to save up the money needed for college if you start early. Time is on your site if you start early, but it becomes your enemy if you wait too long. So, here's <a href="http://clk.about.com/?zi=1/1hc&#038;zu=http://financialplan.about.com/od/savingforcollege/a/Financing-Your-Childs-Education.htm">how to finance your child's education</a>.</p><p style="background:#f5f3ef;border:1px solid #d5d0bf;clear:both;padding:.5em;"><a href="http://clk.about.com/?zi=1/1hc&#038;zu=http://financialplan.about.com/b/2012/04/30/financing-your-childs-education.htm">Financing Your Child's Education</a> originally appeared on <a href="http://clk.about.com/?zi=1/1hc&#038;zu=http://financialplan.about.com/">About.com Financial Planning</a> on Monday, April 30th, 2012 at 14:51:31.</p><p><a href="http://clk.about.com/?zi=1/1hc&#038;zu=http://financialplan.about.com/b/2012/04/30/financing-your-childs-education.htm">Permalink</a> | <a href="http://clk.about.com/?zi=1/1hc&#038;zu=http://financialplan.about.com/b/2012/04/30/financing-your-childs-education.htm#gB3">Comment</a> | <a href="http://financialplan.about.com/gi/pages/shareurl.htm?PG=http://financialplan.about.com/b/2012/04/30/financing-your-childs-education.htm&#038;zItl=Financing Your Child's Education">Email this</a></p>


an outsider. What screen of outsider will step up and pay the obligations, mortgages, and taxes other than a life insurance diversified corporation?

Other than life insurance proceeds what the other potential sources for moolah at death are there?

Your widow might have the resources in her reserves and investments. She could take that balance, liquid assets you worked hard to set aside after income taxes and pay off the mortgages, bank loans, and other obligations. Then what would she do for her security?

Do you really want her to have to use that balance, property that cost so much to create? Is this how you want her to remember your firm resourcefulness? Especially when you could have bought the do-re-mi she'll demand for for pennies a piece with life insurance? What will she and your mother in law and your kids speculate of you if you leave them like this?

In addition there is a huge cost for using your pocket and investments for paying your evidential expenses. First you had to earn the bank account and pay income taxes on it. Then you had to set enough of it aside regularly and month after month enough for the compound growth of interest or stock appreciation again probably paying income taxes on the earnings.

The a cut above situation you do as a saver and investor, the more balance your widow will lose when she has to cash in your hard earned purse and investments to pay your debts and terminal expenses.

I am not going to go waste any more time talking to those of you who were successful enough to sock enough bank account away that your widow could pay your terminal expenses from the investments you have created. You are much too smart to toss overboardthese hard earned dollars on your evidential expenses.

Or your widow can sell some of your assets to raise the cash she'll desire to pay creditors, taxes, and business pledgements.

If you are like most proprietorship owners, 75-90% of your personal assets are tied up directly or indirectly in your company. Selling assets to pay taxes and debts means selling copartnership assets. Selling industrial assets means that they are not likely longer available as part of the income generating machine.

Selling income producing assets and losing their corresponding ability to avail the conglomerate grow in order to make available your family's continuing security seems stupid to me. If you are a successful line of business owner you did not claim that system by making stupid decisions.

Making your widow sell interest assets, close out her unregistered bank account, or sell off the investment portfolio to pay debts, taxes, and other known and unknown leaving expenses just is not the answer. Not if you want you widow and orphans to remember you as a successful caring father and husband. If you do not care how they remember you let them liquidate these holdings to keep your swearments and pay off your debts.

There is one other option that is potentially available. Maybe your widow could borrow the currency. Take your wife with you to the bank tomorrow and talk to your banker. Say him your plan. Instead of buying life insurance to pay your loans and mortgages you are going to instruct your widow to come to the bank after your funeral, whether it's next week or decades in the future.

She will want to extend the current line of credit, continue to pay on the current loans, and borrow move reserves in order to pay the rest of the debts you will be leaving behind.

Then sit back and see what the banker has to say. Will they warrant to your proposition, will they sign a succumb to to guarantee it? And what is the rate of interest that they will charge her?

Will she be able to make this work? Is this the feeling you want to put her in?

Or why don't you call your life insurance agency and break it to him or her that you review an article that made it clear to you that if you want your mother to be proud of you, your widow not have to look for a new husband, and your kids to remember you fondly, it is time you increased your life insurance to address the actuality to that you have created.

Here are some more keyman life insurance articles...