Most parents plan to leave an inheritance to their children, but they often do not go far enough in planning how much to leave, and when their child should receive it. But before any fancy planning is done, you need to first ensure the basics of estate planning are covered.
Maria Dawes
The loss of a spouse is a tragedy and not knowing where to start, who to turn to, what to do, is all the more overwhelming during a time of mourning. Although we cannot prevent death, we can plan for it.
Janet Kim Sing
Experiencing unemployment in the years right before retirement can be an extremely distressing and difficult situation to navigate. Cutting your spending to a bare-bones budget will likely be critical and those who have an emergency fund already saved will certainly weather this storm better than those who do not.
We have spoken a lot about the importance of proper planning and how this can help to provide a roadmap to guide us. However, we have also spoken about the practicalities of life and how changes in circumstances can sometimes throw a wrench into the works and affect our plans.
In many ways, it will depend on your situation and the type of pension you’re accessing. But some forethought and extra planning can be helpful to best manage your retirement income tax situation, as well as your estate tax liabilities.
Imagine a parent or spouse passes away and there is no will in place? This happens all too frequently and the impact can be devastating to the Estate at a time when grief is already at a peak.
Choosing exactly when to retire is an intensely personal decision that requires many parts of your life to align. Considerations need to be made for finances, health, mental fortitude and how much passion you still have for what you do. Connecting with a financial advisor who can help you put together a retirement plan is the first step to getting your ducks in a row.
A common question that we get asked when meeting with prospective clients is, “What can you do for me that my current advisor can’t?” Of course, every firm will have their own answer on what makes them stand out from the crowd.
At some point before or during retirement, most people will start seriously thinking about when they should downsize their home. In reality, this can be a very complex question and the solution is not a one-size-fits-all answer.
