A recent survey explained that just 32% of respondents have already prepared a will, trust, or another relevant document to explain how to distribute their estate. If you fail to create these documents while alive and of sound mind and health, you open up a can of worms for your descendants to hash out. A living trust is an incredible aide to help you out with this, and today, it's easier than ever to create one online.
Are you the executor of an estate? You undoubtedly have a lot of responsibilities right now — often in legal and financial areas with which you may have little experience. One person that may be able to help take the extra pressure from you is a financial advisor. Why should you hire one for the estate you are managing? Here are five of the most valuable reasons.
1. They Can Locate Assets.
Do you know your net worth? This financial calculation can be an excellent point to start a financial plan and also a way to gauge progress on a number of fronts. To help you find your net worth and use this information, here's what you need to know.
What Is Your Net Worth?
Net worth is, at its heart, the amount of assets you own minus the liabilities (debts) you hold.
When you and your significant other decide to dissolve your marriage, there is a long list of things that must be dealt with. Many of these things will impact your end-of-the-year taxes, which is something that you likely have not thought of. And, unfortunately, this is yet another headache to deal with. The good news is that there are a few things you can do to help make the situation a bit more comfortable when it comes to tax time.
In the world of wealth management planning services, the issue of risk looms large. A specific form of risk, commonly referred to as tail risk, is one of the trickier issues even for the smartest professionals to wrap their heads around. It's a simple concept that isn't always self-evident in wealth management planning until something massive and unexpected hits. Let's explore what tail risk is and how planners try to prepare for it and even take advantage of it.
