By Helen Modly, CFP, ChFC, and Tommie L. Monez, MBA, CFP, ChFC What can be worse than losing a spouse—especially with young children to raise? How about being forced to go through probate and losing needed assets to ex-spouses and estranged family members? If only there had been a will. Advisors are used to beating …
By Elaine Floyd, CFP ® Scenario planning shouldn’t stop at retirement. It’s unpleasant, but necessary, to imagine what your situation might look like after the death or incapacitation of a partner. An early dose of reality can help you build a financial foundation. Two weeks ago, my neighbor died unexpectedly at the age of 76. Three …
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By Elaine Floyd, CFP ® If you got hit by a bus tomorrow, would your loved ones know how to access your important records? Would they know which accounts you hold and where your money is? What about insurance policies? Real estate ownership papers? You may have your records organized in a way that works for …
By Elaine Floyd, CFP ® The usual method for estimating spending needs in retirement is to take your post-retirement household budget and tack on an inflation rate, such as 2%. Not so for health expenses. Some expenses increase at a faster rate than the inflation rate you use, others at a slower rate, but overall, expenses …
By Elaine Floyd, CFP ® What is the best approach if you need to sell an inherited estate, excess inventory from your business, or high-priced collectibles you no longer want? Use these tips on selling property at auctions to help you handle the sale and get the best price. When you want, or need, to sell …
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