Tag Archives | trust

Financial Planner’s Net Worth–Right Answer to Wrong Question

What’s your net worth? Financial professionals like me think nothing of asking clients this question. If the tables were turned, though, and clients or prospective clients asked the same question of us, how would we respond? Every now and then this issue comes up in conversations among financial planners. Some advisors think their net worth […]

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Trusts-No Panacea To Retaining Family Wealth

When passing wealth to your kids, consider creating a trust to limit the later generation’s ability to tap into the principal. Several astute readers suggested this strategy after my recent column citing research that showed 90% of inherited wealth is gone by the third generation. There is no question that a trust, done correctly, can […]

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