Picture this scene: your child’s friend is over at your house, they’re playing on the trampoline and things are getting a little rowdy. Your child’s friend lands wrong, breaks their ankle and is rushed to the hospital. Their parents, who had always been pleasant and seemingly reasonable, now blame you for the incident and have decided to sue you for negligence. Without an umbrella policy in place, you face significant risk to your assets and financial security.
Life Transitions: Getting Married
Getting married is the start of something exciting and should be a joyful time. You’ve found the love of your life and it’s safe to assume that thinking through the financial risks of merging assets is an uncomfortable subject between you and your spouse.
At the same time, there are practical matters that you should discuss during your engagement period to prepare for the unexpected. Communication is key to setting yourselves up financially and legally for whatever life sends your way.
College Graduation (A Guide for Parents)
Congratulations! Your child is not the only one who should celebrate graduating from college; this is a major milestone for you too! You’ve been planning, saving, and working to help support your graduate and now it’s time for the next chapter.
Life Transitions – Death of a Loved One
Losing a loved one is one of the most emotionally challenging events we face in life. In addition to the grief and heartache, there are many financial implications with which to contend that can be complicated by family relations and whether or not the person had his/her estate plan in order.
One of the greatest gifts you can give your loved ones is to be proactive and well organized in not only preparing your estate plan, but in communicating your intentions to your beneficiaries. Right down to the music you want played at your funeral, every detail you think through in advance will relieve the burden from those left to handle your estate so they can focus on mourning and honoring your wishes.
Protecting Your Identity
Technology has changed the way we live, especially as consumers. You can order dinner without leaving the couch or request a ride (in most cities) by using apps on your phone. Convenience, however, comes at the cost of providing your personal data, including credit card and banking information, and many people do so freely. Just think about the number of websites that have your personal identifying information (date of birth, social security number, etc.) and how many have your banking and credit card information – probably too many to count!