Podcasts are a dime a dozen these days. From pop culture to sports to parenting, you can find a podcast on just about any topic or genre of interest. For now, let’s turn our attention to finance. Apple Podcasts boasts pages upon pages of finance-related audio content, but which are worthy of your time? Below we highlight the 7 best finance podcasts to add into your rotation.
College can be expensive. In fact, tuition inflation over the last decade has averaged 4.635%. Education planning is now a long-term financial consideration for many families and the 529 plan has become the default choice for those that want to save for college.
Fiduciaries of all types are under scrutiny for implementing practices that are in the best interest of beneficiaries of the trust they manage. Liability can extend beyond business to personal liability and trustees need to be armed with knowledge of where things can go wrong. Because the duties of a trustee are often complex and unique, it is imperative that the trustee familiarize themselves with the responsibilities and risks before taking on this important role.
Whenever my five-year old finds coins on the ground, he gets really excited. He’ll pick up that penny or a quarter and exclaim, “Look at all my money!” In his eyes, he’s become the richest boy around. After all, money can mean different things to different people. But how would he handle it if he really did end up with a large sum of money with no one else to help? This is where financial conservatorships and guardianships are important.
When it comes to estate planning there are terms and titles that people often use interchangeably. Power of attorney, executor, trustee, and beneficiary are just a few that come to mind. While these titles certainly fit in the estate planning category, each carry their own unique responsibilities and power. Two that are often confused, or lack the true understanding around, are power of attorney vs. trustee. Let’s break down the difference of each role and get into a few other roles that help support estate administration.
This blog was updated in August 2022 for relevance.
Regardless if you are an experienced fiduciary functioning as conservator, an executor working to close a family member’s estate, or a new trustee for a close friend’s trust, the process of locating and marshaling assets can be challenging.
Let’s assume you’re in the market to partner with a financial advisor. Finding a good financial advisor who successfully meets your financial needs is comparable to finding the right hair stylist who considers your face shape during haircuts or a dental hygienist who remembers you have sensitive gums. It’s not always an easy process and there will likely be some trial and error before landing on the right one. But once you’ve landed on a few candidates one of the first qualifying questions should be around their compensation structure and whether they are a fee-only financial advisor or fee-based.
If you are in the process of estate planning, naming a trustee and successor trustee is a critical piece of the puzzle. In their role, a trustee is legally responsible for the assets held within the trust. They assume fiduciary responsibility, which means the actions and decisions they make should be in the best interest of the trust. Acting as trustee is no easy feat, the duties and responsibilities of a trustee are often complex and time consuming, so it goes without saying naming the trustee of your trust is a decision that should be carefully considered.
Don’t look back. You’re not going that way