Five Reasons To Never Give An Outright Inheritance To Your Children – and What to Do Instead!

If you’re like me, you want to leave an inheritance for your children. It’s likely part of what you are working so hard to do. But, far too often, the way we leave those inheritances actually does more harm than good. Something no parent wants. Giving outright ownership of our assets to the kids could put everything you’ve worked so hard to leave behind at risk. Why, how and what can you do about it? Let me share Read More

Kelly Clarkson’s Blended Family: What She Needs to Consider

Starting a new family is always exciting and even a tad scary. This natural apprehension can be enhanced when a couple creates a blended family. Bringing children from different parents together presents challenges - and those challenges are multiplied when the couple have new children of their own. Former American Idol star Kelly Clarkson recently added a new baby to her family. Kelly and her husband, Brandon Read More

Are You Leaving Your Retirement Account at Risk?

You’ve spent your entire life building up your retirement account. It may even be the biggest asset you’ll leave behind for the people you love. If that’s the case, you may want to consider creating a special trust designed specifically to receive your retirement account assets in the event of your death. What happens to your retirement account when you're gone? If you leave your retirement account to the people you Read More

Financial Advice for New Home Owners

by guest blogger, Joelle Spear, CFP® of Canby Financial Advisors, LLC Congratulations. You are now part of the American Dream. You made it. After a long process from open houses to the closing table, you have the keys to your first home. If your process of buying a home was anything like my first purchase, you had some anxious moments along the way. Now you can relax on lazy Sundays and host BBQs or dinner Read More

When Is the Purchase of Long-Term Care Insurance Worth It?

Elder Care is emerging as a significant issue for many people as life spans continue to increase. It is nice to know that because of health care advances, we can expect to live longer, but there are no included guarantees on the quality of life in the later years. Many people eventually face a period in life when they can no longer do for themselves. Daily living tasks such as walking, bathing, cooking, and managing Read More

What to do with a cash windfall

Many of us like to fantasize about winning the lottery. We muse with our friends about how we might spend the money, and we dream about never wanting for anything ever again. The odds are against us, of course, at least as far as the lottery goes. But that doesn’t mean - at some point in our lives perhaps - we won’t actually come into a major amount of cash, usually in the form of an inheritance, or perhaps through Read More

Got a Job? How You Can Save Money You Might Be Losing Right Now

Did you know there are many steps that you can take to save money via your employment? Some of these strategies work by allowing you to pay for things with pre-tax money, which could up to 40% (depending on your tax bracket) right back into your pocket. Others provide benefits through your employer that are not taxable to you on your individual income tax return, again reducing your tax liability. Saving through Read More

Financial Myths About Getting a Divorce

If your marriage is on the rocks, one of your many worries is probably the impact divorce will have on your financial life. An attorney can support you with a thorough analysis of your assets and understanding of the financial impact of a divorce, but first read these three widespread myths of the financial impact of divorce. My Money Is My Money, and Your Money Is Your Money Some people believe that if they keep Read More

5 Financial Planning Tips for Expecting Parents

by guest blogger,  Kristin McFarland, of Darrow Wealth Management There’s a lot to do when you’re expecting a child. But before you plan the baby shower, consider these tips for a fiscally friendly family. Many new parents are caught off guard by new financial obligations. If you’re expecting a child or looking to grow the family, it’s important to start preparing now. Get started with these financial tips for new Read More

Things You Should Never Put in Your Will

A will is a vital estate planning document, and allows you to distribute your assets and property according to your wishes. However, there are several items that should NOT be included in a will: Property held in a living trust or joint tenancy - property deeded to a living trust cannot be willed to someone else, and a will cannot change the right of survivorship in joint tenancy, which passes to the joint tenant by Read More