Understanding the various types of Power of Attorney (POA) can save you from unfortunate situations. Whether you’re choosing a POA to make decisions on your behalf or to help a loved one,...
What steps should you take if you’re concerned about cognitive impairment for a loved one?
Cognitive impairment is a growing reality as we age and can be difficult to either experience firsthand or watch a loved one suffer from, even if they only have mild cognitive impairment. Unfortunately, according to the Alzheimer’s Association website, approximately 12-18% of people age 60 or older are living with mild cognitive impairment, and more than 6 million Americans are affected by Alzheimer’s. Any form of cognitive impairment can put you or your loved one at risk for a financial mishap and undo years of careful planning.
How can I ensure my assets pass efficiently to my heirs?
Protecting your assets and taking the necessary steps to provide a smooth transfer to your loved ones is important. Oftentimes, certain steps are not properly addressed, and a person’s assets end up controlled by the courts. Fortunately, for most people, there are simple steps you can take to ensure your assets and personal belongings transfer in a private manner.
What are 529 College Savings Plans and their tax advantages?
As college costs continue to rise (the estimated cost per each year of college at a 4-year public university for today’s newborns is over $50,000 per the College Board, College Cost Calculator), it is important to evaluate different opportunities to save for college and invest sooner than later.
Wealth Management Q&As
Wealth Management is more than investment management. It considers the larger picture. While your investments are critical to your success throughout retirement, it is also important to understand how your taxes, finanical plan, estate, and insurance can affect both your overall situation. Do you know when you should begin collecting social security to maximize its benefit? Have you followed the necessary steps to help your assets pass efficiently to your heirs, avoiding probate? If 529 plans are applicable to you, have you considered 529 plan superfunding or how to maximize 529 plan tax advantages? Our wealth management Q&As consist of popular topics among our clients and are not limited to investment management.