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What’s A Trusted Contact, And Why Do I Need One?

Several of our clients are receiving reminders from Charles Schwab & Co. to name a Trusted Contact for their accounts. Here’s some information to help you understand what a Trusted Contact is, and why you should consider naming one. What’s a Trusted Contact? A “Trusted Contact” is a person that you authorize your brokerage firm […]

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Think You’ll Inherit? What You Think May Be All Wrong

Many Americans may have an unrealistic view of how much they’ll inherit, and that’s especially true of millennials, or the generation born between 1981 and 1996. There seems to be a huge disconnect between what millennials think they’ll inherit and what’s actually on the way, writes Rose Kennedy for the Atlanta Journal Constitution, quoting Adam Financial […]

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How Caregiving Duties Are Pushing More Women Out Of The Workforce

Many working age women (and men) – and quite a few of our clients – are caring for aging parents. That’s a difficult and often exhausting job. A recent New York Times article on the reality of caregiving (“Why Aren’t More Women Working? They’re Caring for Parents”) showed how women caregivers are often forced to drop […]

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Don’t Put It Off: When Waiting To Act Can Have Serious Consequences

I just read a moving mea culpa from a fellow financial planner. He wrote about how he and his wife postponed obtaining life insurance while they were waiting to start a family. It seemed reasonable to wait until they “really” needed it. They were young, everything was good, what’s the harm in waiting a few […]

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Counting On An Inheritance? Here’s What You Need To Know

Quite a few Americans expect to inherit money from an older generation. Over half of millennials expect to inherit from their parents, says a Charles Schwab survey. Other generational groups feel the same. 20% of Baby Boomers (age 55 to 73) believe they’ll receive money from parents or other relatives, as do 36% of Gen […]

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Gloria Vanderbilt Didn’t Leave Her Fortune To Her Kids. Should You?

Gloria Vanderbilt, socialite, heiress and successful fashion designer, died last week at age 95. Years ago, she reportedly decided not to pass on her substantial fortune to her children, including CNN anchor Anderson Cooper. In a 2014 interview with Howard Stern, Cooper explained why he was OK with her decision.  “My mom’s made clear to me […]

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Smart Beneficiary Choices Can Save Your Heirs Thousands

I just wanted to share a quick story showing how picking the right beneficiaries for your retirement and other accounts can save your family and heirs thousands of dollars. We recently met with one of our clients, Brenda*, who has two grown children she wants to inherit her assets. Brenda also wants a portion of […]

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What We Can All Learn From Luke Perry’s Untimely Death

Even if you never watched the 90’s hit show “Beverly Hills 90210,” it’s hard not to be shocked and saddened by the untimely passing of actor Luke Perry, age 52, who died after suffering a massive stroke earlier this week. The unexpected death of a favorite celebrity helps drive home what it means to be truly […]

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Divorced? Hidden Traps In Those Old Beneficiary Forms

If you are divorced, you’ll want to read this excellent article by financial writer Michaela Cavallaro for Considerable about the tricky untangling of assets when your ex-spouse passes away. You would think that all the legal complications and contortions are behind you once the divorce is finalized, but that’s not always the case, as Michaela explains. Even […]

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How To Do It: Burt Reynolds’ Smart Estate Planning Keeps Details Quiet

Bravo to fellow Floridian and legendary actor Burt Reynolds, who put in place a smart estate planning strategy before his recent death at age 82. Here’s 3 takeaways from his estate: He had a Will and Trust. So many celebrities who have passed away recently had no estate planning documents in place. That can lead to expensive […]

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