Cover Me: Why a Durable Power of Attorney for Asset Management is a Smart Part of Your Estate Plan

In 2007, pop singer Britney Spears had a highly publicized meltdown. Caught on camera shaving her head, attacking a paparazzo with an umbrella and otherwise calling her sanity into question, Spears’s father took steps to contain his 26-year-old daughter’s erratic behavior and protect her multi-million dollar estate. While today, Jamie Spears’s actions appear to have… Read More »

Keep Clients from Becoming Squeezed As Part of the ‘Sandwich Generation’

Your clients have worked hard all their adult years, raising children and changing careers with the times, while aiming toward a great retirement. But perhaps a family elder is increasingly in need of assistance, financially and otherwise, because she’s nearly outlived her retirement nest egg. And so, your clients invited her to live with them…. Read More »

Beware the Risks of Reverse Mortgages

Originated in 1961 in Portland, Maine, reverse mortgages allow people 62 and older to borrow money against their home’s equity and not pay it back until they move out or die. And when President Ronald Reagan signed the FHA Reverse Mortgage bill into law in 1988, it signaled the true modern era of reverse mortgages…. Read More »

Having the Big (Financial) Talk with Parents

Your client’s parents have been there for their children all their lives. Now that they’re nearing retirement age, it’s time to return the favor — especially when it comes to their financial well-being. CNNMoney suggests families should talk about their elders’ finances when the parents turn 70 or the children turn 40 (http://tinyurl.com/3hp63tr). Other experts… Read More »

A Niche in “Modest” Families?

I recently read a New York Times article that explores the possibility of focusing a financial planning practice on what the author called “modest” retirement accounts. (http://tinyurl.com/av5lvw9) Of course, what quantifies as “modest” assets to one person could be seen as “great” wealth by another. For Baby Boomers, the market crash and recession couldn’t have… Read More »