Blog

Those that choose to invest in the education of a family member, friend or acquaintance are investing not only in that individual’s future, but also the future of society. It is an act of generosity, forward-thinking, and love. However, this type of investment can be more complicated than initially thought. Which plan should you choose and how do you decide? Here are some key details about 529 plans and other education savings options to help you decide which plan is appropriate for you and… Read more: The Ultimate Guide to Education Savings Options: 529 Plans and Beyond

Maintaining generational wealth involves intentional financial planning, with parents or grandparents passing their wealth to loved ones after they die. But entrusting family members with receiving an inheritance is more than just passing over bank statements or sending a check in the mail. It is about understanding how to steward the hard-earned wealth that you have spent your life building.  You are not alone if you are uncomfortable discussing your… Read more: Open Conversations Lead to Lasting Legacies: Discussing Inheritance With Your Children

Passing down an inheritance can be a life-changing event and navigating the transfer of a significant amount of money and assets can pose certain challenges. Historically, inheritances don’t last. This is so common, it is described as “shirtsleeves to shirtsleeves in three generations.”i There is an oft-quoted statistic that 70% of wealthy families lose their wealth by the second generation and 90% lose it by the third.ii At the end… Read more: How a Financial Professional Can Help You Talk to Your Children About Inheritance

Inheriting generational wealth comes with many emotions, from sadness to confusion to perhaps even joy or relief. An inheritance can take various forms, such as cash, properties, stocks, bonds, property, or other assets. The person leaving the inheritance, the decedent, will likely specify how their wealth will be distributed through an estate plan or will at their death. If there is no will or estate plan, the law of the… Read more: From Heir to Investor: A Practical Guide to Handling an Inheritance Wisely