By Elaine Floyd, CFP ® In most families, the needs and interests of family members overlap. Even if your money is separate, planning needs to happen for all. It is normal, when working with your financial professional, to focus on the needs of your immediate family. If you are a baby boomer, for example, you are …
By Nicole O. Coulter Discover what it means to be wealthy or successful. If you’re like most, it takes a few hard knocks to understand what life truly has to offer. Several years ago at the Berkshire Hathaway annual shareholder’s meeting in Omaha, Neb., a precocious 10-year-old investor stood bravely in front of a microphone …
6 Wealth and Success Lessons from “The Ultimate Gift” Read More »
By Edward E. Klink What would happen if your earliest childhood dreams actually powered your life and business plans? What if you integrated fun into your weekly, monthly, and life goals? If you’re spending time on things that don’t matter, here’s a chance to rethink your plan. What life lessons would you share with the …
By Richard Atkinson Having a will is necessary, but there is a great deal of information the legal document does not include. Here’s what to cover in a supplemental letter that specifies preferences, discloses critical logistic info, and will save your family significant stress during a difficult time. Having a proper will goes a long …
Last Will & Testament: Add a Letter Covering These 14 Wishes Read More »
By Debra Taylor, CPA/PFS, JD, CDFA While national focus has been on uncertainty around new tax laws, there are many individual tax-planning opportunities you should consider before year-end to ensure you are getting the best deal while staying compliant. Although the Tax Cuts and Jobs Act of 2017 and SECURE Act of 2019 captured national …
9 Reasons You Should Consult With Your CPA Before Year-End Read More »
By Elaine Floyd, CFP ® Celebrities have enough money to hire the best estate planning lawyers. You would think celebrities, of all people, should have ironclad estate plans that keep their affairs private, leave money and possessions to the people they love and the charities they care about, and take advantage of legal ways to avoid …
By Debra Taylor, CPA/PFS, JD, CDFA Leaving a lasting legacy for your family requires smart planning now. Intergenerational wealth transfers can create havoc within the family if not handled correctly. We discuss below six documents that you should have in order to protect the wealth and the harmony of the family. 1. An updated estate …
If you get sick and require hospitalization due to COVID-19, you will be immediately isolated from family. So the time to finish up any unresolved advance planning and organization is now. Self-isolation and quarantines have given rise to unique problems and a new way of thinking. With a global pandemic and health and wellness becoming …
7 Estate Planning Things You Must Do in the Time of Coronavirus Read More »
When a parent is considering giving or lending a child money, the key question is whether it’s empowering or enabling. You need to structure a transfer that is best for both generations. When my older daughter Meredith bought a house in Portland, Oregon, in 2015, she needed help with the down payment. Housing prices were …
Intergenerational Transfers: Helping Adult Children Read More »
As a generation, baby boomers are starting to wonder how we can leave our mark upon the world. What, besides material possessions, can we hand down to the next generation? How do we capture and define the wisdom and values that we’ve cultivated over decades of experience? How do we pass these precious assets down …
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