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Asset Protection

How Do You Protect Your Finances From Yourself As You Age?

One of the saddest experiences for a financial advisor is watching an elderly client decline and, despite our best efforts, being unable to protect them from themselves. I wrote in 2007 about an elderly client who fired me when she was failing cognitively but still...

Why Prenuptial Agreements Can Be Valuable for Many Couples

Last week’s column discussed the importance for engaged couples of having open conversations about money before the wedding. This week we’ll look at some reasons a couple might want to consider signing a formal prenuptial agreement. Prenups, which establish how...

Build Emotional and Financial Intimacy With Prenup Money Conversations

Imagine for a moment that you and the love of your life are young, starry-eyed, and newly engaged. Someone asks, “Do you plan to get a prenup?” You would likely stare at them in stunned disbelief and say something like, “Are you kidding? Of course not! We don’t have...

Winning Financial Strategy Combines Strong Offense and Defense

Thirty years ago, jogging with a friend, I told him about the difficult time I was having financially. Even though my business’s earnings were very good, the profitability wasn’t where it needed to be. After listening to me for several miles, he said something I’ve...

Can You, Too, Become an Investing Genius?

“I guarantee to make you an investment genius in six months. Send me $199, and I will reveal my secret.” Of course, I am not serious. Please don’t send me money. Please don’t send any, either, to other self-proclaimed “experts” who are serious about scamming you with...

What’s Worse Than Having No Will? Having Two

Estate planning matters. Not having a will can leave surviving family members to struggle with legal complexities, increased costs, and strained relationships as they make decisions that they can only hope the deceased would have approved. It adds pain and heartache....