financialplanning - What You Need to Know!
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What You Need to Know!

A blog about keeping you up-to-date with the latest Financial Planning and Wealth Management news.

Steve McNair's Colossal Fumble

Planning for Success: Steve McNair’s Colossal Fumble Estate Planning is commonly believed to only benefit wealthy and older individuals, when in fact all stages of life can utilize certain aspects and strategies of estate planning.  One could infer that estate planning is of greater significance for younger adults than it is for older ones.  This is due to younger adults often having dependent children that will require care for the foreseeable future.  If you are a parent of a minor child, how would the unexpected disappearance of you or your spouse impact your family?  Are your assets appropriately titled to avoid freezing your estate and probate?  While estate planning is often thought to be a scary process, it is not something to fear.  By acting today, our team of seasoned professionals can develop an effective strategy to seamlessly transfer your property; thus, allowing you to continue to provide for the individuals...
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Is Your Estate Plan for the Average Joe?

Is Your Estate Plan for the Average Joe?   While no one likes to think of their own demise or what needs to be done to efficiently transfer assets and protect the interest of each beneficiary, it is imperative as a business owner .  Efficacious estate and succession planning will provide a lifeline for not only the survival of your business, but your employees and their families.  An effective estate plan clearly outlines how your assets are to be distributed when the time comes.  Ultimately, this will ensure your business can continue to run smoothly as the appropriate steps towards a successful succession have been thoroughly planned. With the Dolphin’s season opener right around the corner, the estate of Joe Robbie distinctly comes to mind.  In the mid-1960’s, Joe Robbie co-founded the Miami Dolphins, which at the time played in the old American Football League, shortly before the merger with the National...
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Delivering Happiness: One Will at a Time

When people pass away, it serves as a reminder of life's fragility.  You never know what the future holds and it only takes one event to change everything in a blink of an eye.    Tony Hsieh was a visionary who co-founded Zappos, a shoe company, which focused heavily on customer service and famously offered customers free shipping and a complete refund on all shoes within a full year after purchase, no questions asked.  At only 46 years old, Tony Hsieh passed away from smoke inhalation complications from a fire at his vacation home in Connecticut.  At the time of his death, Tony was worth an estimated $840 million, but despite his immense wealth he did not even have a simple will prepared.  Given Hsieh's altruistic nature, it is puzzling why basic estate planning documents had not been prepared.  Unfortunately, he is not the first among celebrities and high-profile individuals to...
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Elders and Finances: How Can We Protect Them from Themselves?

Elders and Finances: How Can We Protect Them from Themselves?
People are living longer today, thanks to medical advances and more health-conscious lifestyles, but that has created a situation that previous generations didn’t often confront. Helping take care of your aging parents or other relatives, especially when it comes to managing and protecting their finances, has become a concern for this generation.   Cases of elder abuse are very common; however, many go unreported. Unfortunately, some elders suffer in silence because they are too ashamed to say anything.   Common forms of abuse:   (1) One of predators’ favorite targets is the elderly, and sophisticated scammers will call the victim and tell them that they owe a debt and will be legally prosecuted if they don’t pay. When the victim sends them funds, now the scammer may have access to their accounts. making it worse for the victim.   (2) Caregivers who are taking care of the victim may have easy...
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