Beneficiary Conundrum

Estate Planning

Beneficiary Conundrum

Most people do not realize the power of beneficiary designation: Your beneficiary designation may result in family members becoming disinherited, or the government may restrict the amount of funds designated to an 18-year-old heir. A few examples of what to consider when naming a beneficiary are detailed in this article. Avoid Naming Your Ex as…

Read More

Unoccupied or Vacant Homes

This article has two purposes: First, to highlight the typically unknown risk of owning a home that lacks full-time residents. Second, to explain the difference of what it means for a home to be either unoccupied or vacant. The nuances of these two words is explained in each specific homeowner policy, so this article serves merely as a…

Read More

The State Can Take Your Money

I bet you thought that this column was going to be about taxes—fooled you! Just when you thought that the government could not get any more intrusive and over-reaching, we now learn that Pennsylvania is the first state to make it easier to deem retirement accounts abandoned, allowing them to be turned over to the…

Read More

Old Life Insurance Policies: Life or Death

You may have purchased a life insurance policy 5, 10, 20, even 30 years ago under the impression that you purchased a “whole life” insurance policy. The life insurance industry unfortunately has become so complex that it is highly unlikely that you actually bought a whole life policy. “Whole life” may have been your thinking…

Read More

Children Fighting Over Estates

No parent dreams of their family being torn apart when their estate is settled.  Rather, they hope the passing of life is a time of solace and family unity providing comfort after the loss of a parent. In recognizing that the division of assets can cause greed and other negative emotions resulting in hatred and division…

Read More

The Greatest Gift to Your Children

Most parents want to give their children gifts, but what gift would you consider to be the greatest gift? Ideas like cash, a new car, a big family trip, or a really cool shared experience (like skydiving) might come to mind. All of these may be fun for a while, but none of those ideas…

Read More

What’s a Digital Estate?

If you are not a lawyer or financial planner and haven’t heard of the term “Digital Estate”, you’re not alone. This new buzz term has been causing a great deal of confusion lately, even for those in the industry because as a new estate planning concept, we are still figuring out how to handle it.…

Read More

A Cautionary Tale of Two Widows

The thing that encourages me the most about being a fee only advisor, without the ability to sell commission- based insurance or investment products, is that we can focus on providing the best advice for the client. Too often I see people buying insurance in a way that, in my opinion, is not a process…

Read More

The Elements of Estate Planning Most Missed

Many equate estate planning with creating a will. So, when you finally get around to writing your will– a task most of us prefer avoiding rather than addressing, you feel satisfied that you took care of everything. Unfortunately, though, you are far from finished with estate planning when you complete your will. Two essential elements…

Read More