Relationship dynamics should drive strategy
Help clients decide how much to leave to kids.
You have a new client and learn he has a 32-year-old son who still lives at home. The couple has two other adult children who work full-time and are independent, but their eldest refuses to work. Your client provides a monthly allowance and pays his bills, including auto insurance. Since your client is approaching retirement, you’re worried this arrangement will jeopardize his finances.
If clients plan for final expenses, it’ll make things easier on their children.
A client’s close friend asked him to be her executor. Honoured, he agreed. But now he’s come to you, admitting he doesn’t know what to do. All too often, executors accept the job without understanding the scope of the work, the complexity of the estate or the dynamic of the testator’s family—all of which can make the job more difficult.
How to handle burial plots and other unexpected assets.
If any of your snowbird clients are still down south, suggest they see this play for insight into inheritance wars.
One of the fundamental goals clients have when they put wills in place is deciding the “who, what, when, where, why and how” of how to pass their property upon death.
Saving for retirement has taken a back seat to debt repayment.
Options for an indebted software entrepreneur facing a health crisis