PALM TREE
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Holistic Portfolio View
Just like a car needs routine maintenance, so do your investments. Without the help of a financial professional, retirement and estate planning is not impossible, but can be a very tough and long process. It is important to evaluate your investments to make sure they still align with your current risk tolerance, time horizon, and goals/objectives. Times change and so do investments, so making sure that capital preservation and risk tolerance are completely in line with your current attitude can save time and money for the future.
Succession
When you lose a loved one, the grief can be overwhelming. In the midst of that grief, life goes on. There are arrangements and important decisions to be made. The estate laws have seen many changes, so what you thought you
knew, may no longer be correct. A great first step would be to gather documents, including but not exclusively, a will, a trust, or other estate documents. If none of these exist, you could face a longer process when settling the estate.
As well, notify creditors and credit card companies that were part of your loved one’s credit history. Creditors may want to know when existing debts will be paid. Investment and retirement plan accounts and insurance policies should have beneficiaries, so reach out to a trusted and reputable financial professional to effectively handle all these matters.
A financial professional can help determine if the inheritance fits with your overall goals, time horizon, and risk tolerance. Talk with these professionals to learn more about the possible tax implications from inheriting these assets.
ELDER LIVING GUIDE
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