The One Thing Every New Grandparent MUST Do As Soon as Possible

Congratulations on welcoming the newest addition to your family. Being a new grandparent changes everything -- including how you approach your finances -- and is one of the most joyous occasions in life. The excitement of a new baby -- and all of the firsts that come with this bundle of joy -- can grab all of your attention and focus. That being said, there is one thing that every new grandparent must do as soon as possible that is often overlooked. Specifically, every new grandparent should immediately create (or revise) an estate plan so that it includes your family’s newest generation. Estate Planning for Grandchildren Having an intentional financial strategy for incorporating your new gr

Wills vs. Trusts:  Take Control of Your Wealth Distribution!

You work hard for your money and want to ensure that your wealth distribution goes according to your wishes upon death. Sadly, many people simply do not understand the difference between wills and trusts and how they can affect inheritance. Do not be one of them! Take control of your wealth distribution by understanding what wills do not control and the benefits of a trust. 5 Things a Will Does Not Control Most people believe that a will encompasses and controls all of your assets. That is simply not the case. Proper asset ownership for Will-based plans can be confusing. However, the bottom line is that a will only controls assets in individual names; it does not control: Trust assets Retire

5 To-Do Items For Our Graduates

May is graduation month. This is a time when many of us will be celebrating our children’s academic achievements, and even thinking about send them off to college. During this hectic and emotionally tumultuous time, too many us will be all-consumed with helping prepare our soon-to-be college student for the next phase, causing us to overlook important estate planning matters. Now, is the perfect time to check off a few important matters from the to-do list as you plan you celebrate their graduation and prepare to send your children to college. 1. Durable Power of Attorney for Health Care Whether we like it or not, and regardless of how good a parent we are, every year, roughly a quarter of a


Your 3-Step Guide to Creating an Informed Estate Plan Are you concerned about any of your adult children? Estate planning can pose extra challenges for families with adult children struggling with addiction, marital issues, or irresponsibility with money. The last thing you want is for your wealth to end up having a negative impact on your child, or to see them squander their inheritance. Many parents are concerned about what they can do to shield an adult child who struggles with problems like these from bad decisions and bad people that could worsen their child’s situation. This is often a hidden issue within estate planning conversations, as it’s a sensitive topic that can bring up p

Estate Planning For the Newly Married

Now is the perfect time to start working on an estate plan—because, as newlyweds, you may not have a list of your accounts, but you have effectively just done a working inventory of your possessions—as you have figured out how to consolidate two households into one. You have already been working on the new banking and shared responsibility of bills and taxes and so forth. Use that all time and energy and work as a leapfrog into planning for your future—so you will be that much more prepared for the house, the kids, and the next stages of your new life together. Why Think About Estate Planning At This Point? Even if you have few assets, as we just talked about, you have more than you think. S

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