What to Do When Your Doctor Has Bad News

Maggie Mayer Estate Planning

It’s what no one ever wants to hear: “The test results have come back positive.” And yet it’s quite likely that you, a loved one or both will one day be given a serious health diagnosis that throws your world into uncertainty, confusion and fear. That means you have two choices:

The Value of Multigenerational Family Meetings

Maggie Mayer Estate Planning

If you’ve amassed sizable wealth, or are on the right path and getting there, it may be time to consider how to pass on some of that money to children and grandchildren without creating big problems that could harm their futures and destroy family harmony. The fact is, family wealth—how it’s managed, transferred and used—can generate major drama among family members. As wealth grows, so does the potential for that money to provoke conflicts and bad financial decisions that can reduce a family’s financial position and even ruin intra-family relationships forever. Read All

The Importance of Beneficiary Designations

Maggie Mayer Estate Planning

Imagine an ex-spouse receiving the benefits of your lifelong savings… That is exactly what happened to William Kennedy upon his passing. In the case of Kennedy Estate v. Plan Administrator for DuPont Savings and Investment Plan , the court ruled that Kennedy’s ex-wife rightly received the benefit of his $400,000 retirement savings even though the divorce papers waived his ex-wife of her interest in the plan benefits.

Life-Stage Estate Planning

Maggie Mayer Estate Planning, Financial Planning, Retirement Planning

We’ve written before how a little strategic long-term thinking is good for your financial health. Tying in your personal financial goals with the goals for your investment portfolio helps you to stay the course when the course gets rocky. As with investments, being strategic with your estate plan is another best practice we encourage for our clients.