Year-End Considerations for High Net-Worth Individuals
Year-End Considerations for High Net-Worth Individuals Presented by Marc Aarons I am reaching out as we near the end of the year to share some important considerations for high-net-worth individuals. While not all-inclusive, this list will provide a starting point to help you consider your situation and needs. As always, if one or more […]
Where There’s A Will (August is Make A Will Month)
National “Make a Will” Month Provided by Marc Aarons “Where there’s a will, there’s a way.” Sage advice that applies not only to our lives but to your estate strategy. When was the last time you reviewed your will or estate strategy? August is National “Make a Will” Month, an excellent annual reminder to […]
The Need for Power of Attorney
POAs and other advanced directives are becoming more important. Provided by Marc Aarons The point of the POA. A power of attorney (POA) is a legal instrument that delegates an individual’s legal authority to another person. If an individual is incapacitated, the POA assigns a trusted party to make decisions on his or her behalf. […]
Ways to Fund Special Needs Trusts
A look at the different choices & strategies. Provided by Marc Aarons If you have a child with special needs, a trust may be a financial priority. There are many crucial goods and services that Medicaid and Supplemental Security Income might not pay for, and a special needs trust may be used to address those […]
Put it in a Letter
Express your wishes. Provided by Marc Aarons at Money Managers, Inc. Actor Lee Marvin once said, “As soon as people see my face on a movie screen, they [know] two things: first, I’m not going to get the girl, and second, I’ll get a cheap funeral before the picture is over.”1 Most people don’t spend […]
Retirement Plan Trusts
These tools can shield inherited IRA assets from lawyers and creditors. Provided by Marc Aarons @ Money Managers, Inc. Inherited IRA assets are vulnerable in bankruptcy proceedings. Many older IRA owners and their beneficiaries do not realize this, but it is true. In Clark, et ux v. Rameker (2014), the Supreme Court ruled 9-0 that […]
An Estate Plan or a Wealth Transfer Strategy?
Basic estate planning documents may not communicate your intentions. Provided by Marc Aarons @ Money Managers, Inc. There are three degrees of estate planning: advanced, basic, and none at all. Basic is better than none, but elementary estate planning can still leave something to be desired. While appropriate documents may be in place, they may […]
Financial Priorities Young Families Should Address
Wise money moves for parents under 40. Provided by Marc Aarons @ Money Managers, Inc. As you start a family, you start to think about certain financial matters. Before you became a mom or dad, you may not have thought about them much, but so much changes when you have kids. Parenting presents you […]
Key Estate Planning Mistakes to Avoid
Too many people make these common errors. Provided by Money Managers,Inc. Many affluent professionals and business owners put estate planning on hold. Only the courts and lawyers stand to benefit from their procrastination. While inaction is the biggest estate planning error, several other major mistakes can occur. The following blunders can lead to major problems. […]