Volume 1 Issue 2
Often being “up front and personal,” as is our want, means asking as many questions as we answer. And often, that results in helping our clients in unexpected ways.
Volume 1 Issue 1
Being up front with our clients means realistically explaining that we don't have a crystal ball when it comes to factors that will impact their financial future. But we are on the ball, and we can apply two generations of experience to every bit of information we gather to guide our recommendations.
Yours, Mine, and Ours Summer means planned vacation trips and activities. Juggling schedules and making arrangements present complex challenges for blended families but the rewards of shared time and creating mutual memories are well worth the effort. Traditional estate planning - in which each spouse provides for his/her assets to pass to the surviving spouse and ultimately to their children, deserves careful consideration by today's blended families. This article discusses how to plan so that neither spouses, nor their respective children are unintentionally disinherited.
Proactive Estate PlanningIt's fair to say that accumulating wealth is a primary goal for most investors; but the flip side of the coin is proactively preparing for the distribution of your legacy. Drafting an estate plan can help maximize the growth of your assets while minimizing estate taxes for your beneficiaries.
Are Your Beneficiary Designations Up To Date?When was the last time you reviewed your beneficiary designations for life insurance policies and retirement accounts? Very likely, the answer is "never." But you should review them periodically. Various life events can signal a need to review and possibly change your designations. Consider whether any of the following events have occurred since you named your beneficiaries.
Wealth Management Tips for Family Businesses: Treating Children In and Out of the Family Business EquallyIf you own a family business, chances are you expect your children to eventually succeed you in owning and running the business. As a parent, you probably want your estate divided among your children as equally as possible upon your death. This article discusses how to balance the distribution of your assets so your other children get their fair share.
Wealth Management Notes:Your life may change faster than your trust owned insurance policiesTake steps to preserve all you work so hard to get. A review of your life insurance policies may offer hidden rewards.
Life Settlements: A New Look At Life Insurance*In this article, Richard Krim discuss Life Settlements, a technique in which you may be able to sell an unwanted life insurance policy to a third party for an amount more than you would receive upon surrender or exchange. While not for everyone, it may prove beneficial with the right planning.
Long-Term Care Insurance - Is It Right For You?The average cost for a private room in a U.S. nursing home now exceeds $200 a day and is at $74,000 annually - up 5.7% from the amount last year. At this rate, the cost could quickly deplete almost anyone's assets. One way to protect yourself and your assets is to purchase a long-term care insurance policy - just in case.
*Investors should consult with their own professional advisor regarding the potential tax, estate, and legal considerations that may arise in connection with entering into a life settlements transaction. Proceeds from a life settlement transaction may be taxable under federal or state law to the extent the proceeds exceed the cost basis. The proceeds from a life settlement transaction may be subject to claims of creditors. The receipt of proceeds from a life settlement transaction may adversely impact eligibility for government benefits and entitlements. The amount received for the sale of the Policy may be impacted by the circumstances of the particular purchaser of the Policy, the insured’s life expectancy, future premiums, the death benefit, the terms of the Policy, and the current market for insurance policies, among other factors. The amount received for the sale of the Policy may be more or less than what others might receive for the sale of a similar policy. There may be high fees associated with the sell of a Life settlement.