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Investing

Why Invest?

To accumulate wealth, people may choose to invest their money into various types of investments. Investing creates opportunities that otherwise would be difficult to manage due to the consistency of contributing to the investment.  However, investing involves risks including possible loss of principal. Obviously, no investment strategy or risk management …

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Grandmother and grandfather holding their grandchildren.

Why It’s Time to Create a Will

Many people do not think about estate planning until they are elderly or sick. Though these are valid times to consider your will, it is wise to draft a will (or revocable living trust) far before these situations occur.  Planning for your own death often feels scary, which is why …

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A hand with a ring signs some paperwork.

What Is Legacy Planning?

When it comes to passing along your assets, there are specific steps to ensure your wishes and preferences for your estate are followed. It’s been awhile since we talked about legacy planning, so we thought it was about time to revisit this important topic.  What is Legacy Planning?  Legacy planning …

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What Does Wealth Mean to You?

What Does Wealth Mean to You?

When people think of wealth, they might think of examples in film, such as Veruca Salt from the 1971 classic Charlie & the Chocolate Factory. Little Veruca had everything she wanted in life but desired one of Willy Wonka’s geese that laid golden eggs. When Wonka refused to sell the …

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Crisis Preparation

Crisis Preparation: Safeguarding Your Financial Future

Safeguarding Your Financial Future Experiencing the death of a loved one and what can financially happen if not appropriately planned for is an unfortunate reality for many. Not having protection through insurance and legal documents can turn a tragic situation into a financial crisis. Having safeguards in place provides your …

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Buying a Vacation Property

Considering Buying A Vacation Property? Be Tax Aware

With real estate prices recovering to where they were pre-2008 in most of the U.S; many people are buying U.S. vacation homes, and homes abroad for various reasons. The appeal of international vacation homes is at an all-time high as property overseas continues to cost less than near home, even …

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Children and Inheritance

When Your Child Inherits

For many parents, planning to leave their estate to their children is a common practice. There are many things to consider when planning to leave your children an inheritance, but the complexity increases when your child is beneficiary to someone else’s estate. What happens when the minor child becomes an …

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Estate Plans and Wills: Not Just for Retirees

Regardless of your age, having a will or estate plan is essential for many reasons, and isn’t just limited to passing assets at death. A will provides necessary asset passing, although many times isn’t enough when situations become more complicated. Although estate plans and wills become typically become active at …

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The Value of Planning for Life’s Messes

Planning is valuable for many reasons and helps to ‘normalize’ things when you find yourself in the middle of an unexpected life event.  A death, a critical illness, job loss, new family member, an inheritance, divorce, or a catastrophic event that can cause a major financial detour.  How you plan …

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Legacy Planning as Part of Life Planning

Leaving a legacy through the passing assets today and after your death is a process that requires correct planning and execution. With the recent Tax Cuts and Job Act of 2017, updated tax codes, and an ever-changing political environment, legacy planning requires consulting with multiple professionals in order to pass assets without financial consequences.

Legacy planning should always be a team effort involving an attorney, tax specialist, and your financial advisor if planning involves securities assets, or will benefit more than one generation, non-profit, or other entity. Transferring wealth has no ‘right or wrong’ way but is best the way that you prefer.

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