September 23, 2016

Medicare Open Enrollment - October 15 to December 7

If you’re currently enrolled in Medicare, your once-per-year opportunity to change or adjust your plan specifics is coming up soon. You’ll be able to change your health or prescription plan coverage for 2017 during this time. If you’re happy with your plan, you need do nothing at all. But if you’d like to make any changes, this is your window.

Contact Christine Collins at (616) 234-6997 for a free Medicare plan review to see if you should make changes or stick with what you have.

Investments: Matters of Trust

A trust is simply a set of instructions established for the management of your assets and property. A trust can provide a measure of comfort knowing that you have a plan in place to help provide for the safe and accountable management of family assets and to direct their use in accordance with your wishes, goals and objectives.

  • How you want your assets managed, and eventually distributed 
  • Who you want to benefit from your assets, now and in the future
  • Who you want to be responsible for carrying out those instructions

An attorney with proper estate planning expertise should be the one to actually create your trust. Your Lake Michigan Investment Services financial advisor can help you manage funds within the trust.

Two Basic Trust Types:
Revocable or living trusts are the foundation of many clients estate plans.
Irrevocable trusts are used for many specific transfer and tax benefits and to handle assets after you have passed away.

What Can a Trust Do for You?
A trust is used to help ensure the proper management of your assets throughout the different stages of your life:

  • During your active lifetime, placing assets in a trust allows you freedom to continue    managing your assets or to devote time to other priorities. A trust created and funded during your life is generally called a “living” or “revocable” trust.
  • In the event you are incapacitated, a trust can help ensure that your needs are met and that your finances are kept in good order for your benefit.
  • Upon your death, a trust becomes “irrevocable”, and your assets are managed and distributed by your trustee, in accordance with your instructions throughout the trust’s existence.
  • An estate planning attorney may recommend creating an irrevocable trust during your lifetime, in addition to a revocable trust. This may provide creditor protection, controlled giving to family members or estate tax minimization.

The establishment of an appropriate trust is a complex process best undertaken by experienced legal and financial professionals. Contact Lake Michigan Investment Services for a free, no-obligation review of your financial situation.

Kalamazoo’s Minor-Field Insurance Agency joins the Lake Michigan Insurance Agency family!

Minor Field Agency has served the insurance needs of Kalamazoo as an independent agency for nearly 90 years, providing both personal and commercial lines of insurance. As of September 1, 2016, Minor-Field Agency became part of Lake Michigan Insurance Agency (LMIA). Minor Field’s location at 5865 Venture Park Drive in Kalamazoo becomes LMIA’s newest insurance branch.

Minor Field Agency has its original roots as Field Agency, founded by Scott Field in 1927. Current president Art Skogsberg bought Field Agency in 1983 and acquired Minor Agency in 1989, combining the two into Minor Field. Current vice president Tom Magrath bought into Minor Field in 1996 as a full partner and equal owner, and will be retiring as the LMCU purchase comes to fruition.

Art Skogsberg commented, “This change of ownership will be a positive for all concerned – clients, LMIA and Minor Field. Combining our two agencies will provide all our customers with access to a larger, more dynamic portfolio of insurance products. Both agencies have considerable talent and expertise in all lines of insurance. And we both have steadfast commitments to the highest levels of customer service. Our clients will also gain access to LMCU’s impressive banking, investment and lending services.

“I will remain at the wheel of our Kalamazoo office, as will most of our employees. We are truly excited about this new phase and the opportunities that lie ahead.”
From Left to Right: Jeremiah Kossen, Tom Magrath, Art Skogsberg, Ken Jansen