Three Questions To Ask Before
You Purchase Life Insurance.

Life insurance can be an extremely important, even essential, part of your financial plan. One of its most attractive aspects for many individuals and families is the death benefit of the policy—the money that the insurance company pays out in the event of the insured’s death. But navigating the life insurance landscape can be tricky—and people often make costly mistakes.

Three of the biggest we see regularly:

• Buying too much—or too little—insurance due to a lack of understanding of their true financial needs.

• Paying for life insurance using a less-than-ideal method or executing that payment method poorly.

• Misunderstanding life insurance’s purpose and the reasons for having it.

In order to make smart life insurance decisions, there are three questions you need to ask yourself and answer. Read more…

Five Big Mistakes Executors Make
— And How To Avoid Them.

Being named the executor of a family member’s (or other loved one’s) estate is, in many ways, an honor. The decision shows that the person saw you as a highly trustworthy, capable person of integrity.

But it’s also a major responsibility that can quickly become a burden if you aren’t set up to do your job properly. The fact is, administering an estate comes with plenty of potential pitfalls that can threaten your loved one’s wealth—and your peace of mind. That goes double if the death is unexpected and leaves you reeling emotionally as you try to take on the legally required duties of an executor.

The good news: You can take steps to avoid some of the biggest mistakes that executors often make and to ensure that the process goes as smoothly as possible. Read more…

 

The Importance of Umbrella Policies.

What would happen if you or your child caused a car accident that resulted in serious injuries or the deaths of others?

How would you pay for the treatment and damages of someone who was hurt in your home and claimed negligence? What happens when they claim to have suffered greatly because of the injury?

What if your dog was attacked by a stranger on your property and bit the person in self-defense—but you were still sued? These are questions that anyone could face. However, one component of a wealth protection plan that is often overlooked or underused—even by the affluent—is the umbrella policy.

Here’s why an umbrella policy can make sense if you have significant assets. Read more…

 

The Leading Edge of Financial Planning.

Qualified Opportunity Funds. The Latest Way To Do Well By Doing Good. — Impact investing—using wealth to create positive change in the world while also benefiting financially—has become increasingly popular, as the idea of “doing well by doing good” has gained traction among investors.

Now there’s a new type of impact investment—called Qualified Opportunity Funds—that is worth checking out if you’re looking to build wealth, reduce a capital gains tax, and improve communities across the country. For investors with these goals, the funds can potentially be a powerful part of an overall wealth plan. Read more…