Asset Protection in Estate Planning
May 31, 2023
You’re beginning to accumulate substantial wealth, but you worry about protecting it from future potential creditors. Whether your concern is for your personal assets or your business, various tools exist to keep your property safe from tax collectors, accident victims, health-care providers, credit card issuers, business creditors, and creditors of others.
To insulate your property from such claims, you’ll have to evaluate each tool in terms of your own situation. You may decide that insurance and a Declaration of Homestead may be sufficient protection for your home because your exposure to a claim is low. For high exposure, you may want to create a business entity or an offshore trust to shield your assets. Remember, no asset protection tool is guaranteed to work, and you may have to adjust your asset protection strategies as your situation or the laws change.
Tags: Certified Financial Planner Charlotte NC, charlotte NC, Estate Planning, Family Wealth, financial advisor, financial advisor charlotte nc, Financial Help, Financial Planner Charlotte NC, Personal Finance
Market Update – An Economy with a Backache
Apr 19, 2023
- Small businesses, considered the backbone of the economy, are shrinking hiring plans. Hiring intentions among small businesses declined in March, implying that upcoming job reports will likely be lackluster.
- Firms are hunkering down as virtually no firms have plans to expand business operations. In fact, the number of firms reporting any expansion plans is the lowest since early 2009 when the economy was in the depths of the Great Financial Crisis.
- Small businesses are reporting more difficult access to credit. The percent reporting tighter credit is the highest since 2012 as lending institutions tighten up under the uncertainty of the macro landscape.
- Now, some good news. Inflation was less of a problem in March as firms are more concerned about the overall business environment as the economy slows under tighter financial conditions.
Tags: Certified Financial Planner Charlotte NC, charlotte NC, Current Events, financial advisor, financial advisor charlotte nc
Bad Money Habits to Break
Feb 27, 2023
Do bad money habits constrain your financial progress? Many people fall into the same financial behavior patterns, year after year. If you sometimes succumb to these financial tendencies, now is as good a time as any to alter your behavior. (more…)
Tags: Certified Financial Planner Charlotte NC, charlotte NC, Current Events, Personal Finance
Talking to Your Heirs About Estate Planning
Jan 23, 2023
Talking about “the end” is not the easiest thing to do, and this is one reason why some people never adequately plan for the transfer of their wealth. Those who do create estate plans with help from financial and legal professionals sometimes leave their heirs out of the conversation. (more…)
Tags: Certified Financial Planner Charlotte NC, charlotte NC, Current Events, Estate Planning, financial advisor, Retirement Planning
Should We Reconsider What “Retirement” Means?
Oct 5, 2022
An executive transitions into a consulting role at age 62 and stops working altogether at 65; then, he becomes a buyer for a church network at 69. A corporate IT professional concludes her career at age 58; she serves as a city council member in her sixties, then opens an art studio at 70. (more…)
Tags: Certified Financial Planner Charlotte NC, charlotte NC, Personal Finance, retirement, Retirement Planning
Managing Probate When Setting Up Your Estate
Oct 3, 2022
The probate process can be expensive for some estates. Settling an estate through probate can cost you both time and money. It could take up to a year for the estate to be settled, plus attorney’s fees, appraiser’s fees, and court costs may eat up as much as 5% of a decedent’s assets. Probating an estate valued at $400,000 could cost as much as $20,000.1 (more…)
Tags: Certified Financial Planner Charlotte NC, charlotte NC, Current Events, Estate Planning
Market Update: The Best and Worst of Times
Sep 12, 2022
When it comes to stock market performance, August was “the best of times, and the worst of times.” The strong market rally that peaked in mid-August was viewed by many analysts as a transition from a bear to bull market, based on the surge in breadth that stocks enjoyed and the magnitude of the two-month rally that began in mid-June totaling 17%. (more…)
Tags: charlotte NC, Current Events, financial advisor, financial advisor charlotte nc
Systematic Withdrawal Strategies
Sep 2, 2022
Some retirees wish they could simplify money management.Estimating investment income, annual retirement plan distributions, and quarterly taxes can be a chore.
This is why some retirees choose to make systematic withdrawals. Just as they contributed a set amount per month to their retirement accounts while working, they now withdraw a set amount from their accounts each month, quarter, or year.
The simplicity of this may appeal to you. The potential drawback is that a systematic withdrawal strategy can risk oversimplifying the complex matter of retirement income distribution. (more…)
Tags: charlotte NC, retirement, Retirement Planning
Investment Challenges of the Affluent Investor
Aug 22, 2022
High net worth investors face investment challenges that some would consider unique to their financial status. The fundamental tenets of investing apply just as equally to them as any other investor, but these investors need to be mindful of issues that typically arise only from substantial wealth.
Let’s examine a few of these.
Tags: charlotte NC, financial advisor, financial advisor charlotte nc, Financial Planning, Investment Planning, Investment Portfolio, Investments, Personal Finance
Market Update: Big Week for Market Watchers
Aug 5, 2022
Last week was epic for market-watchers. A Federal Reserve (Fed) rate hike, a much-anticipated gross domestic product (GDP) report, and the busiest week of earnings season got most of the headlines. There was even a surprise out of Washington D.C., with a Schumer-Manchin agreement on a climate-healthcare-tax bill and some inflation data that added to the evidence that inflation has peaked. (more…)
Tags: Certified Financial Planner Charlotte NC, charlotte NC, Current Events, financial advisor charlotte nc, Investing
More Insights
Apr 24, 2024
A thoughtful retirement strategy may help you pursue your many retirement goals. That strategy must consider many factors, and here are just a few: your income needs, the order of your withdrawals from taxable and tax-advantaged retirement accounts, the income tax implications of those withdrawals, and sequence of return risk.
Apr 22, 2024
Losing a spouse is a stressful transition. And the added pressure of having to settle the estate and organize finances can be overwhelming. Fortunately, there are steps you can take to make dealing with these matters less difficult.
Apr 19, 2024
Ever hear of critical illness insurance? This isn’t standard-issue disability insurance, but a cousin of sorts. With people living longer, it is a risk management option entering more people’s lives.
Apr 17, 2024
Following Iran’s missile and drone strikes on Israel over the weekend and the apparent escalation likely in any Israeli response, stocks fell sharply during Monday’s trading session. We examine the latest developments in the Middle East conflict, how stocks have reacted historically to geopolitical events, and the possible impact on markets moving forward.
Apr 15, 2024
Did you buy U.S. Savings Bonds decades ago? Or did your parents or grandparents purchase them for you? If they’re collecting dust in a drawer, you may want to take a look at them to see if any of your bonds have matured. If your bonds have matured, that means they are no longer earning … Continue reading “How US Savings Bonds Work”
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