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Tag Archives | Asset Protection

Plan to Protect Financial Resources From Yourself

After three decades as a financial planner, I’m seeing more and more clients reach, not just retirement, but their final years. An issue that becomes especially important at this stage of life is how to protect your financial resources from an unexpected threat—yourself. One of my saddest professional experiences came several years ago when one […]

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Clarify Financial Planning Advice With Reflective Listening

Here’s a useful bit of advice I got from one of my staff members several years ago: “Rick, your clients don’t understand half as much about investing as you think they do.” She didn’t intend any disrespect to the clients. Instead, she was reminding me not to assume everyone swims in the same waters I […]

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SD Domestic Asset Protection Trusts Just Got Stronger

Most financial advisors and attorneys who specialize in asset protection trusts have probably never visited South Dakota. Yet it’s one of their favorite places. A change made by the legislature this year has made them like it even more. The reason asset protection experts are so fond of our state is that South Dakota is […]

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Controlling the Power of a Power of Attorney

Is it a good idea to give control of your finances to someone else through a power of attorney? Maybe. Or maybe not. It’s foolish to sign away complete authority to someone who may or may not be trustworthy. It’s equally foolish to refuse to consider a power of attorney in circumstances where it could […]

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Packing Your Parachute for the Fiscal Cliff

Whether you’re pleased or disappointed with the outcome of the Presidential election, the question to ask now is, “What does this mean to me?” It’s an especially important question if you own a business or are investing for retirement. If you have wealth, the implications are not good. Keeping the current tax code would take […]

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