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Famous Estate Planning Blunders

October 28, 2020

We hope that everyone is doing well and continuing to stay safe and healthy. As I write this we are in the home stretch of the election. We know that this election has virtually everyone concerned. For those of you who have talked to us recently, we have shared our insights. For those who have not seen us, here our main messages:

(1) This is always your money and we respect your decisions that you make

(2) We are fiduciary to you and in this role, we are here to remind you of your long-term goals and try not to set your investment decisions based on short-term current events

(3) we subscribe to the bucket approach which means that the money one has earmarked in stocks typically will not be touched for 10 to 15 years and is designed for short-term ups and downs

(4) long-term our job is not just to protect your principal but to maintain the purchasing power with retirement income and to combat the effects of inflation, there is no long-term hedge that will keep up with inflation like stocks.

If you want to talk, please reach out and set up a meeting with one of our financial professionals.

With all the talk of election, it is easy to forget the other aspects that are important in our financial life. Estate planning is still important. We wanted to share these estate planning blunders by famous celebrities.

The key thing is either lack of planning or constantly keeping one’s estate planning documents up-to-date as our life conditions change. It is generally recommended to review one’s estate plan every three to five years.

We are not estate planning attorneys. However, as a Certified Financial Planner, estate planning is one of the disciplines I am expected to cover with my clients. Our clients find it extremely helpful to talk about estate planning with us as an extra data point either before meeting with their attorney or after. It is always good to have multiple professionals working with you to make sure your plan is constantly up-to-date.  Please reach out to us if you have questions.

CLICK HERE TO READ Famous Estate Planning Blunders