ESTABLISHING GUARDIANSHIP: WHY IT’S SO IMPORTANT AND THINGS TO CONSIDER

Posted by Clay Caldwell, CFP® and Rich Winters, CFP®, CRPC®
On February 19, 2019

If you and your spouse were to pass away, who would assume legal guardianship of your children? Would your extended family members decide who raises your children? Would the courts decide? Maybe it would be a combination of the two? And for separated families, what kind of additional complexities exist? While it is a […]

POWER OF ATTORNEY FOR YOUR CHILDREN: WHERE GRANDPARENTS COME IN

Posted by Clay Caldwell, CFP®
On June 28, 2018

For most of us, we think about a Power of Attorney (POA) coming in to assist when a parent is approaching the end of their life. This document gives you the authority to make medical, legal, and financial decisions on your parent’s behalf when they are no longer capable of making these decisions on their […]

IS YOUR ADVISOR AN EXPERT WHEN IT COUNTS?

Posted by Brad Bridgewater
On March 21, 2018

In the United States alone there are over 300,000 financial advisors, and the majority of these advisors have letters, or “designations,” that follow their names. I’m sure you’ve seen CFP, CFA, CRPC, AIF, or Series 7 in print advertisements or online. We certainly have a good number of these designations on our website. While these […]

THREE THINGS YOU SHOULD KNOW ABOUT SURVIVOR ASSISTANCE

Posted by Brad Bridgewater
On October 31, 2017

You can’t overestimate the difficulty people have with the decisions, intense emotions, and consequences that accompany the death of a family member. We recently encountered this situation with long-term clients John and Jane*. In this situation, John always took full responsibility for the couple’s finances, and when he passed away unexpectedly, Jane realized very quickly […]

SHOULD YOU NAME A TRUST AS AN IRA BENEFICIARY?

Posted by Brad Bridgewater
On September 6, 2017

Contrary to popular belief, there are times when two rights can make a wrong. Both trusts and IRAs are important components of any estate plan, and there are compelling reasons to use each one. Trusts allow your estate to avoid probate and help you provide for your heirs in a way that you control. IRAs […]

FACING THE POSSIBILITY OF INCAPACITY

Posted by Brad Bridgewater
On August 7, 2017

Even with today’s medical miracles, it’s a real possibility that you or your spouse could become incapable of handling your own medical or financial affairs. A serious illness or accident can happen suddenly at any age, such as a fall, head injury, or automobile accident. Advancing age can bring senility, Alzheimer’s disease, or other ailments […]

USING TRUSTS TO MANAGE THE DISTRIBUTION OF YOUR ESTATE

Posted by Michael Kane, CFP®
On May 26, 2017

When tailored to the unique needs of your family, trusts are one of the best ways to protect and execute the plans you’ve made on behalf of your beneficiaries. They help you control the frequency and timing of any inheritance and assist in providing a lifetime of financial security for your loved ones. Many people […]

5 COMMON MISCONCEPTIONS ABOUT ESTATE PLANNING

Posted by Brad Bridgewater
On April 21, 2017

Most of us know someone who has been affected by the death of a loved one who didn’t leave a plan for his or her wishes. These situations are very difficult and can inflict real emotional and financial damage on families. Of course, people don’t set out to harm their loved ones by failing to […]

THE OPPORTUNITY COST OF DOING NOTHING WITH YOUR FINANCIAL PLAN

Posted by Brad Bridgewater
On March 17, 2017

Opportunity cost is defined as “the loss of potential gain from other alternatives when one alternative is chosen.” In the business world, “the cost of doing nothing” is a commonly used phrase relating to hiring practices, customer service, marketing strategies, or financial decisions. Economists have attempted to quantify this cost in a variety of situations. […]

10 KEY RESPONSIBILITIES OF AN EXECUTOR

Posted by Michael Kane, CFP®
On February 24, 2017

Being chosen as the executor of an estate is both an honor and an enormous responsibility. The job of the executor is to protect the personal property of the deceased person until all debts and taxes have been paid and to transfer the remaining assets to the estate’s beneficiaries. The duties may vary depending on […]