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Tag Archives | power of attorney

Legacy Parenting and Financial Planning

Fiduciary, client-centered financial planning is dynamic, ongoing, and evolving. The collaboration between client and planner is a relationship that often lasts for a client’s’ lifetime. Sometimes that relationship even extends beyond a client’s lifetime if they have children or leave money to a foundation. Children may become the stewards of their parents’ financial legacy via […]

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For Seniors: Giving Up The Checkbook, Part Two

For seniors, arranging to entrust financial affairs to someone else is an important part of preparing for old age. Once you have chosen a surrogate and dealt with some of the details laid out in last week’s column, one question remains. How will the transition occur? Here are some suggestions.

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For Seniors: Giving Up The Checkbook, Part One

One area that few seniors prepare for is arranging for someone else to handle their financial affairs when they can no longer fully care for themselves. This is easy to put off, for three primary reasons. First, there are a lot of difficult emotions involved with the thought of losing our cognitive ability and the […]

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Involving Kids in Financial Meetings a Wise Move for Aging Parents

As parents age, many adult children begin to not merely provide taxi service but to accompany parents to appointments, especially doctor visits. This is often helpful for both generations. Yet it’s much less common for children to sit in on their parents’ meetings with financial advisors. In almost 35 years as a financial planner, I […]

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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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