I Am Sorry For Your Loss

Photo by Nik Shuliahin on Unsplash

The death of a spouse is one of the most difficult experiences we will face in our lifetimes. The financial steps you take in the days and weeks that follow can have a major impact on your financial security as well as that of your family.

The best advice may be to simply do nothing right away.

Watch this 1-minute video for tips on what to do after your spouse passes away.

 

How to Know If You Need a Will or Trust

Estate planning can provide for the proper distribution of your assets to your beneficiaries after you die. In some cases, a living will or trust may help, especially if you have children who are minors or assets like mutual funds, brokerage accounts or other non-retirement assets that don’t pass via beneficiary designations.

To learn more the role a will or trust plays in your estate plan, watch this short video.

 

 

Ed Slott Live on PBS

How to take your IRA from "forever taxed to never taxed"

Last week I wrote about what it means to be an Ed Slott trained IRA advisor. Since then, I have learned that Ed Slott’s program “Retire Safe and Secure” will air on our local, Twin Cities Public Television stations this weekend!

If you want to learn how to avoid the most common tax mistakes people make with their retirement accounts, or why a Roth IRA is so important, or how to take your IRA from “forever taxed to never taxed” you will want to watch or record Ed’s show this weekend.

Ed Slott has been a huge supporter of Public Television for many years and is one of PBS’ all-time largest fundraisers. His programs have raised over $50 million in donations supporting PBS stations across the country. This weekend you can watch him on your local station.

Times and dates are listed below. Check with Twin Cities PBS for more information or click here.

  •  Retire Safe & Secure with Ed Slott | Friday, Jun 8 at 6pm TPT LIFE
  •  Retire Safe & Secure with Ed Slott | Saturday, Jun 9 at 11:30am TPT 2
  •  Retire Safe & Secure with Ed Slott | Saturday, Jun 9 at 9:30pm TPT LIFE
  •  Retire Safe & Secure with Ed Slott | Sunday, Jun 10 at 3am TPT LIFE
  •  Retire Safe & Secure with Ed Slott | Saturday, Jun 30 at 7pm TPT LIFE

Now this is must see TV.

Looking for an Ed Slott trained “Elite IRA Advisor”? Call me at 651.379.3935 or email me directly at mpbranch@focusfinancial.com

 

Ed Slott’s Elite IRA Advisor Group is solely an indication that the financial advisor has attended training provided by Ed Slott and Company.  Ed Slott is not affiliated with Royal Alliance Associates, Inc.

“Swedish Death Cleaning” For Your Estate Plan

How the Swedish concept of "Dostadning" can help you get your affairs in order

Photo credit: Tom Skarbek, Unsplash.com

Cory Wessman is an estate planning attorney with the law firm, Erickson & Wessman. His office is in the Broadway Place West building in NE Minneapolis where I work.

He sent the following letter to his clients and I thought it would make a great guest post.

You can find out more about Cory and his services at his website, www.cericksonlaw.com.

Below, he offers great advice for “spring cleaning” your estate plan. If you need help creating and updating your “Master List of Accounts”, let me know. We have this information for all our financial planning clients and are happy to provide it to you in a secure way.

Why Financial Planning Is An Act Of Love

3 ways your financial plan says "I love you"

Photo by freestocks.org on Unsplash

According to the National Retail Federation, Americans will spend an estimated $19.6 billion on Valentine’s Day this year. With a little more than half of the American population participating in Valentine’s Day giving, that breaks down to about $143 per person.

While chocolates, candied hearts or a night out on the town can be great ways to express your love, I would argue that financial planning may be the ultimate act that says, “I love you and I care about you”.

Here’s why: