Karen and John have done well in both their professions and their portfolios over the last 25 years. They have two children, and all four members of the family are animal lovers. Both John and Karen have become actively involved with their local SPCA. They have been so personally grateful and impressed with the institution that they have been regular financial donors, and they intend to support the SPCA through their estate.
It’s hard to find the right time to discuss information your loved ones will need once you are gone. Initiating that discussion well ahead of time is a gift. Does your spouse know how to access all the bank and investment accounts? Do your children know how you would like to be remembered? Are the people you love in possession of what they need to take care of your final affairs?
How can families who care for an ill child prepare themselves for the considerable costs during the diagnostic, treatment, and follow-up care phases of the disease?
My move back home to Boston in 2019 not only marked the beginning of my financial advisor role at Modera, but also the start of evening law school. Some wondered why I would ever take on the dual endeavor. Some wondered if I would be departing Modera and financial planning once my J.D. was in hand and the bar exam in the rearview mirror. But most people simply asked, “So why law school?” Short answer: Because I am a process-oriented nerd with an affinity for economics, and tax and estate planning. For the longer version, read on….
When it comes to car shopping, it can be very stressful deciding whether to lease or buy a car. As someone who recently purchased a new car, the whole process can be nerve-wracking if you do not engage in due diligence with your research. Car shoppers are constantly bombarded with different dealership incentives pressuring you to make a quick decision while on the lot. The truth, there’s not a simple answer when it comes down to buying vs leasing. The decision depends on both your personal and financial situation. Below are some points to ponder as you consider whether to buy or lease your next car.
There are several issues that should be addressed quickly whether your expected windfall is from an inheritance, a business sale, a large bonus, or winning the lottery. Below, we share five crucial steps:
John makes a good living as an anesthesiologist, earning more than $300,000 a year. His wages are the main source of income for his family of five.
I recently downsized from a larger home in a New Jersey suburb to smaller quarters closer to Manhattan. Anecdotally, I noticed many times in my former neighborhood that on the same day families would post “Congrats to the Graduate!” yard signs, “For Sale” signs would often appear right next to them. My wife and I had been thinking about downsizing for years to eliminate the burden of property maintenance and simplify our living situation, but the task itself was a bit daunting.
Whether you file your own tax returns or hire a tax preparer, it is a great sense of relief when your returns are filed, and you can check that off your list. But in financial planning, we say not so fast! We like to think of our clients’ income tax return as a vital part of your financial planning portrait.
