Temporary Guardianship

Life Planning

Temporary Guardianship

There is a certain legal document that is often frequently overlooked. Most people are ignorant to its importance, and most lawyers do not discuss it. The document is called the temporary guardianship/custody form and associated copy of a minor’s insurance card. Temporary guardianship is when a person (or couple) is designated with the care of…

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The Confusion of Mortgage Interest Deductibility

When clients provide me with a mortgage interest statement, they assume that all of the mortgage interest will be tax-deductible. This assumption was somewhat true under the tax laws before 2018, but since 2018, it will be true only on occasion. To understand why, you must comprehend the definition of acquisition indebtedness.    Acquisition indebtedness is…

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Market corrections and the advice of an arborist

Over the past few days you have inevitably heard that the markets have declined in value. We would also likely believe that this message has likely been delivered to you in a way that highlights fear, and further impending doome andwhile ignoresing the fact that markets go through cycles and need corrections like this to…

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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…

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Actively Passive or Passively Active?

There seems to be a lot of talk in the news these days about active investing and passive investing. It appears that a lot of people don’t really know the whole story. When people use the terms active investing and passive investing, they are usually talking about exchange-traded funds (ETFs) or index funds that track…

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The Value of a Fiduciary

There has been much in the news about fiduciaries recently given that the Trump administration may be considering the delay or repeal of the Department of Labor’s proposed fiduciary rule. As with most news features, it can be difficult to get the whole story and to determine what it means for you. The hope is…

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Financial Services: The Next Evolution

The personal financial services industry is going through a major metamorphosis for the better, and it is creating a true profession. At present, the overwhelming majority of the financial industry is sales- and relationship-driven. The majority of advice that financial representatives provide to clients is guided by what the representative can sell to generate revenue,…

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Should You Carry a Long-Term Mortgage?

It’s not uncommon to consider paying off your mortgage when you get close to retirement or come into a large sum of cash. It’s also not uncommon for many financial advisors to recommend maintaining or even taking out a mortgage when the topic arises. Regardless of whether that advice is good or bad, it presents…

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Ten Budgeting Mistakes You Need to Stop NOW!

1. Guessing Monthly Costs. When you develop your budget, you will need to estimate some expenses if you are uncertain about actual costs; however, over the next few months, you should refine your estimates so that you know what you are spending instead of guessing about these costs. A budget is not about guessing or…

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Cash Flow versus Budgeting

To me personal budgeting is a lot like dieting. If I diet and blow the diet, I eat even more. If I set a budget and then blow the budget, I spend even more. [Psychologically I already feel badly so why not just drown myself in the sorrow of my defeat.] We know that people…

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