How Behavioral Economics Can Help Your Clients Retire Rich
Say you do not have a will. You’re unlikely to go get one today, Ariely said. But you could say that by the end of the month you’ll find a lawyer and make an appointment.If you write down the steps and set a timeline, it is not a guarantee you’ll do that task,...A Better Way To Say “I Love You”
As Valentine’s Day brings heart-shaped chocolate boxes and roses by the dozen into your clients’ imaginations, seize the moment to educate them about the drawbacks of “I love you” wills and introduce them to the estate planning move that’s actually going to...The Other Reasons For Estate Planning
Good discussion of incentive trust planning: Many subjects that serve as substantial planning motivators aren’t found on client questionnaires and are frequently absent from planning discussions. Source: The Other Reasons For Estate Planning (Well actually, we...Independence Is Not Just for Young Advisors
So how does someone determine if he is “too old” to make independence work? It really comes down to a few key characteristics shared by those advisors who took the leap: They really wanted it. They believed in their ability to migrate clients and grow. They had...Big reason whites are richer than blacks in America? Lack of black estate planning.
I don’t agree with everything in this article, but it does make a good point about the lack of estate planning. It is surprisingly tough sometimes to get families to consider holding funds in trust to prevent kids from blowing their inheritance, and I can...Carrie Fisher and Debbie Reynolds Dynastic Deaths Give Offspring Legacies and Millions to Inherit Overnight
Luck all around, despite the bad planning. Carrie had formal next of kin, daughter Billie Lourd, who inherits the house, the money and presumably the French bulldog even if the outspoken and occasionally erratic actress forgot to leave a valid will behind....Trump’s Legacy of Winning
[bctt tweet=”.@realdonaldtrump: You’ll say Mr. Pres we win #2A much, can’t take it & I’ll say #MAGA” username=”guntrust”] Trump’s legacy of winning is motivational for any individual, family, business or country....Six Things Family-Owned Firms Should Know About Succession Planning
Among the chief goals of succession planning is providing continuity of management and minimizing the tax costs of transferring property interests to new generations.Source: Six Things Family-Owned Firms Should Know About Succession...Leverage-Loving Millennials Suckered by Financial Press into Betting Against Trump
“From triple X leveraged products to Vanguard, Millennials have shown they favor the extremes in terms of their growing ETF usage,” said Bloomberg Intelligence ETF Analyst Eric Balchunas. “However, when it comes to calling the Trump rally,...Twelve “Star Wars” Lessons For Becoming A Financial Planning Jedi
A truly nerdy advisor with too much time on his hands put this together. Why nothing on Star Trek TOS? In preparation for “Rogue One: A Star Wars Story,” here are 15 lessons from the film series to help you be a financial planning Jedi. Source:...“Deconstructing Conflict” – Family Business
(Get your parents into our free 2-hour estate plan design meeting.)#AssetProtection: How “Gamification”’ Can Improve Family Education and Engagement
Family businesses spend an extraordinary amount of time and capital (financial, human and intellectual) on skill building and education within the family system. Rising members of the family system must master many different skills. Some of these skills can be...#AssetProtection: When Family Conflict Threatens the Business
When conflict arises between family and business goals, the natural inclination to minimize it can lead to a pattern of dysfunctional communication and greater conflict. The common practice of triangulation rarely leads to resolution of underlying issues and can be...#AssetProtection: Six Steps Couples Should Take When Merging Assets
Here are six steps couples who live together and are committed to each other, who are engaged or who are newly married may not realize they should take when merging assets: Source: Six Steps Couples Should Take When Merging...#AssetProtection: Millennials Having a Hard Time Cutting the Financial Cord
Millennials may strive for financial independence, but as a whole, they’ve been slow to break out on their own. According to Fidelity Investments’ Millennial Money Study, nearly half (47 percent) of millennials still have their parents pay for certain...#FamilyProtection: Hobo Code (in case HRC elected)
The “hobo code” helped poor people in the 19th and 20th centuries and may help yours in the 21st, depending on the election results next month. If attacked, do you want to be Victor or Victim? At SacredHonor.US, we hate it when people die embarrassed. And...#AssetProtection: The Second Gilded Age May Be Losing Its Luster
According to the above chart, US does great at wealth creation (compared to other socialist countries), but we need to learn a thing or two from Europeans about keeping it in the family, i.e., financial mentorship. The study attributes the down year to a combination...#FamilyProtection: Why Robin Williams’ son hangs out behind bars – Video
You have read at www.SacredHonor.US about the F.I.R.S.T. Family Trust and how it can be used to pass on values such as charity and financial mentorship. Here is an example of both in action: Zak Williams, son of Robin Williams, is co-teaching a financial literacy...#FamilyProtection: George H.W. Bush destroys own legacy, exercises power of (dis)appointment
In failing to deny he is voting for Hillary, the senior Bush has utterly destroyed any remaining political legacy for his entire family. Maybe another legacy is more important — a financial one, perhaps? Many former GOP officials from both Bush administrations...
Free to Advisors
