The Rankins Group Of Illinois

We work with a team of professional such as i.e.: Bankers, Lawyers, Accountants, Health Care Consultant, Financial Planners, Estate Planners to assist our clients in meeting their short and long- term financial goals. The service that my team provides is; tax reduction strategies, debt elimination strategies, retirement planning, IRA transfers and rollovers, Income protection, real estate development, reverse mortgages. We are convinced that we earn the trust of our customers and partners by offering the highest level of expertise, integrity and sustainability.

We provide:

 Real Estate Development     

Wealth Preservation/ Asset Protection                      

 Wealthy individuals discovered centuries ago that, in order to transfer wealth to future generations, they had to protect their wealth during their lifetime. Since your legacy consists of your wealth and your wisdom, preserving your assets is crucial to protecting your legacy. Whether you are a doctor at risk of a malpractice lawsuit or you are a truck driver at risk of a car accident, most people achieve some benefit from asset protection strategies.

  Estate Planning

As difficult as it may be to believe, many attorneys simply show a laundry list of estate planning documents to their clients, then, have their clients pick and choose what they need.  No legal counseling occurs; the client simply makes selections and the attorney drafts the requested documents.  Clients of those attorneys leave without having completed proper estate planning.  Unfortunately, these people feel secure because they have had their "documents prepared."   But estate planning is not one-size fits all.  Each person's estate plan should be custom-designed.  Skillful customization can only be achieved through a counseling-based service like we have at The Rankins Group of Illinois.

     It is important to realize that you can put your wealth and loved ones at risk if your estate plan does not properly account for your needs.  I recently heard a story of an individual who incorrectly thought she had protected her wealth and her family by downloading and completing a $49.99 "estate plan" package that was marketed by a popular financial expert.  After she passed away, her family was shocked to later discover that the estate plan she prepared not only did not accomplish what she intended, but also caused some extremely negative tax consequences.

     At The Rankins Group of Illinos, we have designed a 3-step to Estate Planning Success process which allows us to assist you in creating a customized estate plan that meets your needs, goals and aspirations.  This customized estate plan is the first step towards designing your legacy.

Business Planning

• If you are incapacitated unexpectedly, can your family or partners continue to run your business?
• If you are incapacitated unexpectedly, will your family have sufficient liquid resources to hire someone to replace you?
• Do you have a buy-sell agreement?
• Does your buy-sell agreement account for (at minimum) your retirement, disability, incapacity, death, bankruptcy, loss of professional license and failure to carry out duties?
• Does your buy-sell agreement require the remaining owners to purchase the departing owner's interest when a "triggering" event occurs?
• Is your buy-sell agreement properly funded?
• In your buy-sell agreement, how is the price of the departing owner's interest determined?
• Do you have a management succession plan in place?
• Does your succession plan accommodate your family member's different skill levels or interest in your business?
• Have you considered the impact of estate taxes on your family business?
• Are you willing to make gifts of interest in your business to your children, or trusts for their benefit, if you can maintain management control?
• Do you know which entities allow you to give the interest to your children and still maintain control of your business?
• Are you in agreement with your spouse regarding the ultimate disposition of the business?

These are just a few of the questions that will help us determine your needs, goals and aspirations regarding your business.  If you have never considered these questions, please spend some time pondering them.  The continued success of your business may depend on it! 

 Home Health Care

  Life Insurance

  Retirement Planning

  Church Legacy Gift Program

A Legacy Gift Program would give once a year members the opportunity to consider their gifts to a congregation or charity, which includes their time and talents. It is also important to consider their financial giving by offering a structured way to make a commitment, pledge, or estimate of giving. This annual response method is designed to help congregations or charities, begin to talk about financial stewardship in deep and meaningful ways. It encourages God's people to grow into a new freedom in giving as they grow in trust and hope. The method acknowledges donors who have arranged bequests and other estate gifts, too.

Planned giving combines estate planning and philanthropic support, resulting in deferred gift commitments such as bequests, charitable trusts and other long-term vehicles. It is the process of incorporating charitable gifts into your overall financial planning in order to reduce your tax liability, support your values, and achieves other benefits. By employing a variety of IRS-sanctioned methods, you can maximize your wealth and exercise more control over its disposition during your lifetime, while helping to ensure the future of the legacy after your lifetime.

  Medicare vs. Medicaid Planning

   Mortgage Insurance

   Income Replacement Insurance