Estate Planning

Let’s face it, unless you’re Homer Simpson, you are going to age and, yes, eventually die. Only Homer gets to live forever. And while death is not something pleasant to think about, nor something to dwell on, it is something we should have a plan for. A death plan, for lack of a lighter term, helps you maintain control of the main decisions that are important to you and helps take part of the burden off the shoulders of your loved ones at a time when they will need the assist. Here is a list of the primary items that should be in all of our plans:

I have a 20-year old memory of asking Bob Bova, the founder of Moneywatch Advisors, if he thought I could retire if we could accumulate $1 Million. At the time the company I worked for was being acquired – there’s no such thing as a merger – and I was particularly frustrated with the new management team. Bob and I were playing golf at Andover Country Club where it was abundantly clear that the PGA Tour was not a viable fallback career and I was at a professional low point and looking for some hope. In typical fashion, Bob didn’t say, “sure” and give me false hope. Or, “no way” and dash my hopes. He said, “Let’s sharpen our pencils and make a plan.”

Lisa and I had been clients of Moneywatch for 2-3 years at this point, signing on after observing my parents’ outstanding experience as clients for about a decade. Until then, they had primarily focused on managing the investments within our 401(k)s. But, what Bob developed for us now changed the course of our financial lives.

Despite having an estimated net worth of about $250 Million, it has been widely reported that Prince died without a will. In other words, Prince did not make it clear legally who should inherit his considerable wealth and valuable stuff when he died. As a result, who ultimately receives his money will be tied up in court for years and years.

Enjoy this month’s edition that features an update on the economy and stock markets from an article we thought was worthy of sharing. “Bull Market Has Further to Run” by Brian S. Wesbury - Chief Economist, Robert Stein, CFA – Dep. Chief Economist and Strider Elass – Economist, all from First Trust.

Enjoy this month’s edition that features an update on the economy, financial markets and client seminar invitation.

Enjoy this month’s edition that features an update on the economy and stock markets in addition to highlights on TD Ameritrade’s electronic check deposit service and client seminar invitation…