How long will you live? It’s a key question in retirement planning. If you’re healthy and your family tree has branches with staying power, you may figure that you have decades ahead. If your parents died early of natural causes, you may assume a shorter life. Yet research shows that behavior is more crucial than […]
Read More »Don’t Forget Estate Planning for Your Family Business
Skilled estate planning is essential to the tax-efficient transfer of the family business across the generations. While the majority of family business owners have estate plans, the majority of these plans can be considered dated. Family businesses are responsible for more than 70% of global production and are one of the principal creators of private […]
Read More »Estate Planning After your First Child Arrives
When young couples expect their first child, the to-do list never seems to end. From lining up in-home help to managing hectic daily schedules, the process can prove daunting. Then there’s financial planning. Financial advisors often urge parents-to-be to prepare by budgeting for the future. They might need well over $250,000 to fund a child’s […]
Read More »Estate Planning After your First Child Arrives
When young couples expect their first child, the to-do list never seems to end. From lining up in-home help to managing hectic daily schedules, the process can prove daunting. Then there’s financial planning. Financial advisors often urge parents-to-be to prepare by budgeting for the future. They might need well over $250,000 to fund a child’s […]
Read More »Estate Planning for the Farm
Estate planning doesn’t concern itself only with financial savings or your home. It can also include your property and land. And in no other industry is land more valuable than farming. By building and implementing an airtight estate plan, farmers and ranchers can ensure a smooth transition of land ownership and management when the time […]
Read More »The Lowdown on IRAs
Self-employed people need to save for retirement, and a tax-advantaged retirement plan is the best way to accomplish this. Designed for the self-employed, the Simplified Employee Pension (SEP-IRA) and the Solo 401(k) are relatively easy to set up. Both plans offer tax-deductible contributions, enabling you to cut your taxes and get tax-deferred growth. Another plus: […]
Read More »What’s that Document Called Again?
“Mistitling of assets is one of the prominent causes of failed estate plans,” asserts Avani Ramnani, CFP®, director of financial planning and wealth management at Francis Financial, a wealth management firm in New York. What might go wrong? As an example, Daniel Timins, CFP®, an estate planning attorney in New York, says that one critical […]
Read More »“Will” You or Won’t You?
Natural disasters happen! Catastrophes! Accidents! Illness! No one gets out of this world alive, but we can plan to make it easier on those we leave behind. If you have accumulated assets or have minor children, you need to do some estate planning. The more complicated your life, the more complicated your planning needs to […]
Read More »Who’s Quarterbacking Your “Money Team?”
When it comes to managing and growing your wealth, it pays to have a deep bench. Who’s on your money team? Among Millionaire investors who work with a team of advisors, one-third consider a team of two advisors to be ideal, while 36 percent prefer to work with a team of three. Of those who […]
Read More »“Estate Planner” Scams Customers with Turkish Bond Investment
A Naperville businessman was sentenced recently to seven years in federal prison and ordered to pay more than $3.3 million in restitution for conning clients into investing in nonexistent Turkish bonds as part of an elaborate, $28 million Ponzi scheme, authorities said. John T. Burns III was an owner and operator of USA Retirement Management […]
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