June 2015

last-will

What Should I do with My Inheritance?

At some point in your life you may have the good fortune to inherit money. Otherwise you may have a different type of windfall and “come into some money”. It could be a severance payment, lottery win or an IPO that explodes the value of your stock options. Making the wrong moves when you receive a large amount of money in a single transaction can lead to regret, stress and financial ruin.

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what-do-financial-advisors-do

How Do Financial Advisors Help With Tax Planning?

About 10 years ago I was having a first meeting with a person who was referred to me. It was our normal “get to know each other” first appointment. At one point she pulled out an account statement summarizing most of her investments. I asked her how she decided what investments to buy and she said she had an investment manager “back east” that she really liked. I asked what she liked about her and the response was, “she returns my calls” and “”She doesn’t charge me that much”. Well, I took a look and her account was being traded like crazy. Her portfolio was being turned over more than 100% per year. I took a look at her tax return and there were a lot of gains listed attributable to this trading. That was the good news.

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long-term-care

What is Long Term Care?

This topic is one of the most misunderstood, yet vital topics to be included in your overall financial and estate planning. This one issue causes more retired folks to lose their home and go bankrupt than any other. Having a written plan to instruct family members, friends, successor trustees and those holding powers of attorney is a “must include”element to your retirement and other financial plans.

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