n nearly every way you could make a mistake — for example, saving too late — you can also make up ground by availing yourself of all resources at your disposal (say, your employer's 401(k) matching program). With that in mind, here’s a list of 28 major retirement pitfalls to…
In the book The Charles Schwab Guide to Finances After 50, author Carrie Schwab-Pomerantz poses the following scenario: “I’m confused about how to divide my estate between my children, who have different needs and financial resources. Is it best to divide it into equal parts?” This question is directed at…
Lifetime gifts may carry considerable advantages over charitable bequests, according to Atlantic Trust, the U.S. private wealth management division of CIBC (NYSE: CM) (TSX: CM). Lifetime gifting allows you to see your donation make a difference. In addition to this giving advantage, there’s also the goals of receiving an income…
Legislation allowing Mississippians to place their assets in a trust for up to 360 years passed the state House and is now pending before Gov. Phil Bryant. How long should a trust really last? According to the Northeast Mississippi Daily Journal, Mississippi’s House Judiciary Chair Mark Barker said many states…
Although it is a difficult subject to face, you have options when it comes to protecting your estate and your family. The steps you take now can help prevent the wrong people from making decisions for your loved ones. If you have minor children, who will take care of them…
The viewers of this high-end PBS costume drama, which takes place about a century ago, could very likely be your clients' demographic. Look at who's a top corporate sponsor: Viking River Cruises, which told The New York Times that “our demographic is affluent Baby Boomers 55+.” It's a big group:…
Have you thought about dying lately? Most of us don't. Make sure you do some estate planning today before things get complicated. End-of-life planning is not a fun topic to think about. Nobody wants to think about passing away, but is that going to change the inevitable? Not a chance.…
Accounting for the possibility of your own and your loved one’s eventual mental incapacity is a key part of any estate plan. If your loved one appears to be showing signs of diminishing mental acuity, ask if he or she has the proper documents in place. If so, find out…
As Mary Todd Lincoln’s character in “The Widow Lincoln” faces dozens of unpaid bills for home furnishings, clothes and jewelry, she asks, “How will I ever pay these debts? I am nothing. I am no one.” On top of moving out of the White House, mothering her sons and moving…
Ernie Banks died on January 23rd at age 83 from a heart condition. Interestingly, his death certificate listed dementia as a “significant condition contributing” to his death. Why is that important? Well, three months before he died, Banks signed a new set of estate planning documents, including a power of…