Overview: What Happens to a House in a Trust When the Owner Dies? A revocable living trust becomes irrevocable upon the grantor's death. The successor trustee manages the trust after the grantor...
Financial Advisors and Estate Planning: How Wealth Advisors Help You Protect Your Legacy
Understanding Your Estate Plan and Why It Matters An estate plan is the set of legal documents-wills, trusts, powers of attorney, and healthcare directives-that control what happens to your assets,...
When Do I Collect Social Security? Timing Your Benefits for a Long, Happy Retirement
For many older Americans with substantial assets, the question is not simply “when do I collect Social Security?” It is: “When should Social Security become part of my retirement income, how much...
How Much Money Do You Need in Retirement?
There is no single “right” retirement number. What you need to retire depends on your desired retirement lifestyle, retirement age, life expectancy, tax situation, and legacy goals—all of which can...
Helping Your Children Invest—and Prepare to Manage Wealth
If you’ve built meaningful wealth, one of the most important questions becomes: are your children prepared to manage it? That preparation goes beyond choosing investments. It starts with helping...
What questions should you ask your aging parents or discuss with your children?
Having conversations within a family regarding financial and end-of-life topics is crucial. Open communication can alleviate anxiety for both parents and children. It can help parents feel supported...
Update: If I inherited an IRA, do I have to cash it out or take RMDs? What is the “10-Year Rule?”
Some of you may remember this question from our October 2022 newsletter. At that time, we were waiting for the IRS’ proposed regulations to be signed into law. On July 18, 2024, the IRS issued the...
How can I help set my grandchildren up for financial success without simply giving them cash?
As parents and grandparents, we are always looking for ways to help improve the lives of our families. For many of us, the importance of financial security for our children and grandchildren comes...
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.