Dec 02, 2020
“How do I get a medical power of attorney for my adult child?”...
With more young adults living with their parents now since the Great Depression, families with college-age children need questions answered about where parents’ legal rights begin and end. As a financial advisor, you should be ready to answer the questions your clients have, such as “how do I get a medical power of attorney?” and connect them with the documents they and their adult children need to protect their families. This concise guide will help you point your clients in the right direction. “What are the legal realities of my child turning 18?” When a young adult turns 18,...
Sep 19, 2022
10 Diagrams to explain advanced estate planning strategies
Tax planning for clients with taxable estates has always been complex. We’ve learned the best way to explain estate planning strategies is with diagrams, not documents. That’s why we’ve put together this deck of 10 diagrams to explain some of the advanced strategies and why household with $10M in assets should care about estate tax. Why $10M in household assets? In 2026 the Estate Tax exemption drops down to just about $10M (or higher based on inflation). The 10 diagrams explain both why you need advanced strategies and how 8 different strategies work. We’ve explained them all below but...
Dec 11, 2020
7 Major reasons why estate planning isn’t a ‘set it and forget it’...
Imagine that you're having your first consultation with a new client. You ask them whether they have an estate plan in place. They proudly tell you that they drew up a will and assigned guardianship as soon as their first child was born — 25 years ago. Job well done, next question — right? Not quite! Let's examine why treating an estate plan as a one-off task comes with significant risks that could end in nightmare scenarios for your client and their family. 1: Beneficiaries and fiduciaries are often temporary While your client may express a desire to designate...