Sand Hill's Chief Investment Officer, Brenda Vingiello, CFA, joins Jenny Harrington on “Halftime Report” to go over their most recent portfolio moves. Brenda's commentary begins
Sharing is Caring
Published Date : August 2, 2017
Every family is different. Some are very open, sharing details about nearly everything in a loud boisterous manner; others are more reserved and less comfortable revealing personal information. No matter what your family dynamic, there comes a time when it is important to share some details with your adult children or the family members who will handle your affairs when you are gone. Ideally, this would not only be an in-person conversation, but documented in a written letter of instruction. Some topics that could be covered in the letter include:
- Names and contact information for your estate planning attorney, financial advisor, banker, insurance broker and pension provider
- Location of your safety deposit box
- A balance sheet or listing of current bank and brokerage accounts
- A list of any life insurance policies
- Names and contact information for any friends you’d like to be notified
- Your desire for a funeral or memorial service and any arrangements you may have already made for burial or cremation
- Any highlights from your life that you would like included in your obituary
This letter should not be viewed as a substitute for a will or revocable living trust, but a complementary document that is kept in a safe place. If you decide to keep it in an actual safe, don’t forget to share the combination or location of the key with your loved ones!
If you have a Donor Advised Fund with a significant balance and have already nominated a successor advisor to take over when you are gone, you might think about drafting a letter of instruction intended to help guide in its distribution. The letter could highlight charitable themes or specific organizations that you want to support.
For parents of young children, drafting of a letter of instruction that can be provided to the guardian or trustee of any trusts created for minor children can be extremely helpful. The letter can provide guidance on topics such as:
- Type of primary education you prefer: public, private or parochial
- What level of support should be provided for extracurricular activities such as band and athletics
- How much financial support should be provided for a college education and beyond
- The role of religion in your child’s life
The age(s) of distribution of trust assets may be clearly spelled out in the trust document, whereas your feelings on many other equally important topics are unlikely to be; and as time passes, these letters will need to be revised and rewritten periodically to keep them fresh, relevant, accurate and truly helpful to your heirs and assignees.
No one knows what day on this earth will be their last. For that reason, it is important to draft these letters of instruction today. It will certainly be appreciated by your loved ones — hopefully far in the future when they’re reading it — to once again have your guidance on some very important matters.
Articles and Commentary
Information provided in written articles are for informational purposes only and should not be considered investment advice. There is a risk of loss from investments in securities, including the risk of loss of principal. The information contained herein reflects Sand Hill Global Advisors' (“SHGA”) views as of the date of publication. Such views are subject to change at any time without notice due to changes in market or economic conditions and may not necessarily come to pass. SHGA does not provide tax or legal advice. To the extent that any material herein concerns tax or legal matters, such information is not intended to be solely relied upon nor used for the purpose of making tax and/or legal decisions without first seeking independent advice from a tax and/or legal professional. SHGA has obtained the information provided herein from various third party sources believed to be reliable but such information is not guaranteed. Certain links in this site connect to other websites maintained by third parties over whom SHGA has no control. SHGA makes no representations as to the accuracy or any other aspect of information contained in other Web Sites. Any forward looking statements or forecasts are based on assumptions and actual results are expected to vary from any such statements or forecasts. No reliance should be placed on any such statements or forecasts when making any investment decision. SHGA is not responsible for the consequences of any decisions or actions taken as a result of information provided in this presentation and does not warrant or guarantee the accuracy or completeness of this information. No part of this material may be (i) copied, photocopied, or duplicated in any form, by any means, or (ii) redistributed without the prior written consent of SHGA.
Video Presentations
All video presentations discuss certain investment products and/or securities and are being provided for informational purposes only, and should not be considered, and is not, investment, financial planning, tax or legal advice; nor is it a recommendation to buy or sell any securities. Investing in securities involves varying degrees of risk, and there can be no assurance that any specific investment will be profitable or suitable for a particular client’s financial situation or risk tolerance. Past performance is not a guarantee of future returns. Individual performance results will vary. The opinions expressed in the video reflect Sand Hill Global Advisor’s (“SHGA”) or Brenda Vingiello’s (as applicable) views as of the date of the video. Such views are subject to change at any point without notice. Any comments, opinions, or recommendations made by any host or other guest not affiliated with SHGA in this video do not necessarily reflect the views of SHGA, and non-SHGA persons appearing in this video do not fall under the supervisory purview of SHGA. You should not treat any opinion expressed by SHGA or Ms. Vingiello as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of general opinion. Nothing presented herein is or is intended to constitute investment advice, and no investment decision should be made based solely on any information provided on this video. There is a risk of loss from an investment in securities, including the risk of loss of principal. Neither SHGA nor Ms. Vingiello guarantees any specific outcome or profit. Any forward-looking statements or forecasts contained in the video are based on assumptions and actual results may vary from any such statements or forecasts. SHGA or one of its employees may have a position in the securities discussed and may purchase or sell such securities from time to time. Some of the information in this video has been obtained from third party sources. While SHGA believes such third-party information is reliable, SHGA does not guarantee its accuracy, timeliness or completeness. SHGA encourages you to consult with a professional financial advisor prior to making any investment decision.
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