Month: May 2019

What is a Living Will & Power of Attorney?

What is a Living Will & Power of Attorney?What is a living will and a power of attorney? And why do you need these documents? It is important to have a plan in place in case of an emergency or a medical situation where you are unable to make decisions about your medical treatment and financial affairs. If you do not have a plan in place, others will have to make these decisions for you, which may or may not coincide with your wishes. These difficult decisions are often left to family members, which can be gut-wrenching and stressful for them. To make sure your wishes are met, a living will and a power of attorney are important documents to have in place ahead of time.

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Tax Season is Over! Now What do I do with All of this Paperwork?

It is always a relief to get your tax return filed and satisfy Uncle Sam for another year. But what about all of the tax documents and records you painstakingly pulled together to prepare the return? And what about all of the other “financial stuff” you have been keeping. Do you really need to keep all of that? The answer is “yes” and “no”… There are two things to consider when determining what to save and what can be discarded. The first is whether or not you will ever need that information in the future (and for how long). The second thing to consider is how to securely store what needs to be retained and dispose of what you can toss. A good organizational system will tackle the first issue (what to save and for how long) in a very systematic way. It may seem painful to set up this system initially, but once it is done and if maintained regularly, you can rest assured that whatever you need will be readily and easily accessible.

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CAN Money Buy Happiness?

For most of our lives many of us have heard the old adage “Money can’t buy happiness.” And we can all think of numerous examples of individuals where this certainly seems to be true – whether among the powerful and famous, or within our own family or group of friends. But is that really true? Research over the last few decades suggests “NO!” In fact, many studies show that in one sense money can buy happiness. But it’s not the amount of money we have, but rather how we SPEND our money that can indeed increase our happiness – although perhaps not in the way Madison Avenue or Amazon Prime would like us to think. First, let’s address the skeptics among you who feel sure that if you simply had MORE money you would indeed be happier. Statistics show that certainly isn’t true, since 70% of all lottery winners or those with a sudden financial windfall end up bankrupt within a few years.1 Carl Jung, famous psychologist, said in fact that the keys to happiness were five things.

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The New Tax Bill: Tallying the Results

“How did the new tax bill affect me?” was the question on everyone’s minds this tax season, and for good reason. Even though this was touted as the greatest simplification of the tax code in my lifetime, I didn’t notice any reduction in time spent preparing returns. Those of you who reviewed your returns in detail noticed that the schedules look drastically different although contain all the same information. The short answer for many is that it didn’t materially change your overall tax liability. The outliers fell into one of a few buckets…

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How to Choose the Best Trustee for your Estate

No one enjoys thinking about what will happen after they’re gone, but we all want our families to be well cared for. Many people set up trusts to provide for their loved ones, but the trust is only as good as its trustee.Choosing a trustee is one of the more difficult decisions in creating your estate plan. Some attorneys suggest choosing several trustees to promote checks and balances, but sometimes choosing just one trustee can be difficult in light of family relationships and other factors. Choosing a trustee is a very personal and complex decision, but there are some basic guidelines one should consider.

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Hear How Atlanta Financial Makes Life’s Journey Richer

Atlanta Financial TV is home to a variety of videos that allow clients and associates to obtain knowledge, insight and experience. Tune in to learn more about our approach to comprehensive wealth management.to comprehensive wealth management.

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