It's true that adding the children's names to a bank account to create a joint account will give them easy access to funds in the event of the account holder's death -- but it can also create risk. This article reviews five issues that elderly clients and their children should consider before pulling the trigger on a joint account. The conclusion? It's probably not a good idea.
While bond market representatives are cautious about recent market moves and the threat of rising interest rates, they're not worried about a mass exodus, although portfolio managers warn against making drastic changes in allocations. Other fund managers are bullish on bonds, saying that in the current global investment climate, long-term bonds will prove beneficial to a portfolio.
In the current investment climate, the traditional rules of retirement planning could benefit from a re-evaluation. This article looks at six rules for retirement and offers modifications to benefit clients saving for or embarking upon their golden years.
Health insurance exchanges will begin open enrollment in October, and the new rules will drastically affect client financial planning decisions, according to financial columnist Michael Kitces. In this article, Kitces analyzes some of the issues financial planners may encounter in making the transition, including helping clients understand how to pay for the new insurance and getting up to speed on the new premium assistance tax credits.
Collectibles can bring joy to the collector, but headaches to the heirs when an estate is divided. This article discusses the possible problems that can arise when such valuables are included in an estate and the estate-planning methods that can help the investor and heirs avoid these pitfalls.