Most people do not like thinking about their own death or the death of family and friends. Benjamin Franklin famously wrote: “… in this world nothing can be said to be certain, except death and taxes.” Simply stated, the reason to have your own estate plan drafted is to provide for the orderly administration of your affairs (financial and otherwise) in the event of your incapacity or death. For many, the words ‘estate plan’ conjures images of luxury and affluence, though everyone, regardless of financial resources should have an estate plan. To help prove our point, here are some of the top reasons each of the following personas should make creating/updating their estate plan a priority.
Last year my husband and I knew there was something wrong with our boiler, in the basement of our house. We knew this because we lost heat in the house during the winter – twice. We learned that repairing it would involve dismantling part of it and having no heat for a day. Our plumber, whom we see around town, admonished us several times to make arrangements with him to take care of it during that summer, when our need for heat would be close to zero. And we finally did, one week last June – it was the last thing I wanted to be bothered to do, but when winter and snow came, boy were we happy, and relieved.
Every May, years of all-night study sessions and grueling examinations endured by thousands of young men and women culminate with graduation and the receipt of a four-year college degree. While more and more young men and women are attending college, the cost to attend continues to skyrocket. The Institute for College Access and Success reports that as of 2012, over 70% of students graduated four-year colleges with student debt. 66% of graduates from public colleges had debt (with an average balance of $26,000), 75% of graduates from private not-for-profit colleges had debt (with an average balance of $32,000) and 88% of graduates from private for-profit colleges had loans (with an average balance of $40,000).
It’s International Women’s Day, and I have been thinking about how financial advisors interact with women, especially when those women are one half of a couple, and how I wished both advisors and women would behave differently.
I’ve been to several conferences in recent years, where I find myself in hotel ballroom, listening to a speaker (usually female) patiently explaining to hundreds of (mostly male) financial advisors that they should pay attention to their “clients’ wives.” (Let that sink in for a minute . . . . as though the female half of a couple isn’t a client. But I digress.)
The Superbowl excitement is behind us and we all celebrated the success of the New England Patriots during the famous Duckboat Parade.
The continuous success of this team is possible with a great leader at its helm: Bill Belichick. The way he leads and assembles a first class team year after year provides valuable lessons for me as a business leader and for many other executives who are faced with difficult decisions and the demand to lead effective and efficient.
Wooing, educating, maintaining annual gifts for Charitable Institutions is “tough business” for the thousands of fund raisers working desperately to meet ever increasing costs. Most annual gifts are the product of endless meetings, dinners, phone calls, tours and creative discussions.
Once a donor has bought into the needs of the institution, there is an annual romancing necessary to maintain or increase the gift. If successful the donor tends to increase the annual gift over years as his ability to give increases and as his support for the charity deepens.
But what happens when the donor dies? Years of building collapses unless “Gifts in Perpetuity” becomes an integral part the Fund Raising Plan.
Red is the color of choice for the Sapers & Wallack team these days. This is not the newest fashion trend around Newton, but a cause close to the heart for all of our team members: women’s health.
We are proud to participate in the national Go RED for Women Day on February 3rd to help raise awareness about the women’s heart disease epidemic while promoting education and essential lifestyle choices to reduce risk factors.
Now that the holidays are over and all those new year’s resolutions have almost been broken (come on, admit it), here’s something you can do to help your long-term financial situation: make your IRA contribution now.
I’m not referring to prior year’s contributions (which you can make until April 15th of the current year); I’m talking about your 2017 contribution. It’s 2017 already – why wouldn’t you make 2017’s contribution as early as possible in 2017?
Oxfam America is known worldwide to “create lasting solutions to poverty, hunger, and social justice.” The non-profit is not only leading the efforts to find new ways to fight hunger, but also re-defines internal organizational structures. To attract and retain its highly skilled leadership, Oxfam America started a customized executive benefit restoration initiative and chose Sapers & Wallack as partner for the implementation.
Read our newest case study to learn about our customized approach to provide the choices executives needed in different stages of their careers combined with continuous education to make the program successful.
This year brought additional growth to our Sapers & Wallack family with industry-experts that joined us over the last couple of weeks.
We want to take a moment to introduce them and take you on a tiny tour behind the scenes, sharing something from their personal life:
Mark Alaimo has come aboard to lead our Wealth Management practice as Managing Director. He brings a passion for tying together all the loose ends of a client’s financial portfolio into a cohesive plan, and he utilizes his extensive background in tax and estate planning to best serve every need.