3 Reasons Your Spouse or Partner Should be Included During Planning Conversations

/ Castle Wealth Advisors, LLC/
3 Reasons Your Spouse or Partner Should be Included During Planning Conversations

Have you and your spouse discussed your retirement plans?  In the 2017 study, Age Wave/ Merrill Lynch, “Finances in Retirement: New Challenges, New Solutions” showed that only 16 percent of pre-retirees older than 50 feel prepared for a 20-year retirement.  

Personally, I found that to be a truly sobering statistic.  As a Certified Financial Planner™ I’ve seen the importance and difference working with a professional to develop and follow a financial plan can make.  Also, I know there is a significant need in our country to help individuals plan their finances and retirements.  However, I was shocked to see a number less than 20 percent!  

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Estate Planning for Children Over The Age of 18??  The Answer May Surprise You.

/ Castle Wealth Advisors, LLC/
Estate Planning for Children Over The Age of 18??  The Answer May Surprise You.

Do you were children need estate planning documents?   If your child is 18 or older, they are technically in adult.  Which means you no longer have the legal right to make medical decisions for them, access their medical records, or handle their financial matters.  Consider the implications not having the ability to make medical decisions for your child in the case of emergency or if your child becomes incapacitated.  

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Many Investors Are Finding Even More Reasons To Use 529 Plans To Help With Education.  

/ Castle Wealth Advisors, LLC/
Many Investors Are Finding Even More Reasons To Use 529 Plans To Help With Education.  

When beginning to plan for a child’s future or when evaluating a current savings plan, many families often ask,  “What are the differences between UGMA and UTMA accounts, 529 college savings plans, and prepaid tuition plans and what should I use?”   

The key to answering this question lies first, in understanding the types of accounts available to help with saving for a child’s future along with their pros and cons. After which it’s easy to understand how the “tax cuts and jobs act.” being signed into law has made many 529 plans more attractive for parents and families.  

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How Has Your Estate Planning Been Impacted By the New Tax Law

/ Castle Welath Advisors, LLC/
How Has Your Estate Planning Been Impacted By the New Tax Law

Now that tax season is over.  Take a moment to ask yourself if your Estate plan needs to be reviewed.  Many individuals and families are finding they may need to check in with their financial planner and attorney to understand how the new tax law may impact their estate plan.  

An Estate plan, just like a piece of real estate, needs periodic maintenance and care to make sure it’s in good shape when you need it most. 

Provisions in the newly passed GOP tax plan mean it’s time to review a handful of key areas in your estate plan. Below are five areas you should pay attention:

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Basics of Estate Plans: A Simple Way To Understand What Happens To Your Assets

/ Castle Wealth Advisors, LLC/
Basics of Estate Plans: A Simple Way To Understand What Happens To Your Assets

I’m asked many times by novice and experienced investors alike, “Do I need a will?” 

“Well, it depends on what you want to happen” is my general response.  Not everyone’s situation is the same and therefore they don’t need the same estate documents.  But at a basic level I believe everyone should have an understanding of the process for wealth transfer based on the pre-death planning that has been done.

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Your Charitable Gift: What is the Best Method for You

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Your Charitable Gift: What is the Best Method for You

Many people assume that the hardest art of making a charitable gift is determining which worthy charity to donate.  While this may be true, many people often overlook or don’t fully investigate the method in which they make their contribution.   Here are a few giving methods and a bit about them for you to consider before making your next charitable contribution.

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