Two of the most crucial steps in a successful financial plan are tax planning and estate planning. And like most important things in life, they are not a “one and done” endeavor but one that requires ongoing review and occasional adjustments to stay on track towards goals. For clients who are likely to have a … Continued
While it is never easy to discuss aging issues with our parents, these conversations are necessary to ensure that our loved ones can live out their final years with as little stress and conflict as possible. Given the complex dynamics between parent and child, it is important to approach the matter delicately as roles begin … Continued
The importance of well-crafted and proactive estate planning documents is widely understood by most families with significant wealth, but arguably an even more important element for successful wealth transfer is how such plans are ultimately interpreted and properly executed by the recipients after one’s passing. One practice that can really help the next generation better … Continued
Recently, my two-year-old daughter tapped the screen of a toy expecting it to do something—anything!—instantly. When it didn’t respond, she frowned and moved on, already looking for something else to capture her attention. In that simple moment, I saw the world she’s growing up in: one of instant feedback, endless options, and increasingly invisible value. … Continued
Between now and 2045, Cerulli Associates estimates that more than $80 trillion in wealth will be transferred from the Baby Boomer generation to their heirs. It is understandable to assume some of those assets will be in the form of retirement accounts such as IRAs, Roth IRAs and 401(k)s. With the enactment of the SECURE … Continued
The death of a spouse can be one of the most stressful events you’ll ever experience. Even if it is expected after a long illness and you’ve left nothing unsaid, it can be a time of great sadness and mourning. Unfortunately, for many surviving spouses, the pain can be compounded by the stress of decision … Continued
The start of a new year is a great time to revisit on your existing financial plan and to determine if there are opportunities to make changes. For example, with the rise in the S&P 500 over the last couple of years, you may find yourself in a position to be more generous with your … Continued
The need to identify an individual or group of individuals to step in down the road as your successor trustee can be a daunting exercise. Some clients prefer to name a private fiduciary or corporate trustee in the place of a family member or friend for these reasons: • Appointing a corporate trustee alleviates family … Continued
At Sand Hill, we work with multi-generational families and one request that we sometimes see from clients is a preference to name minor children as account beneficiaries. Unfortunately, minors are legally unable to own property; therefore, they cannot inherit investment assets in their own name. Naming minors outright will lead to unnecessary complications for their … Continued
The Covid pandemic was disruptive and even catastrophic in many ways. One of the few positive developments during the pandemic was the emptying of animal shelters as we were all homebound and craving companionship. For most lucky pets (and humans), the attachment with their humans has continued post-pandemic. While pet insurance has been around for … Continued