In our adult life, my brother and I would exchange texts about the Boston Celtics and random movie and video game trivia that we grew up on.  It was an exercise in nostalgia.  An attempt to create brief sentimental exchanges that might somehow bring us back to our childhood.  To bring us back to a time when life was simple… a time when mom and dad were invincible. Before the Stars Could Guide Us, There was a Spreadsheet For our entire lives, our parents have been sailors.  When they set sail from Gloucester Massachusetts to Cape Cod, Maine, or even down the entire eastern coast to the Virgin Islands, my dad had a spreadsheet that outlined every day’s destination, departure and arrival times, and every meal planned.  By having the plan laid out, even if they came across an engine issue or an unexpected storm, the plan was their guide, which could be modified as they faced any hurdles.    These days, I receive texts from my brother like, “mom locked herself in the bathroom again.  She had an ‘accident’ and is embarrassed”, or “dad just collapsed in the grocery store again”.  You see, while my wife and I are busy […]

Estate planning is a crucial aspect of managing your wealth and ensuring a smooth transition of assets to your heirs. One of the most significant concerns for estate owners is the burden of estate taxes, which can consume a substantial portion of your estate’s value, leaving less for your beneficiaries.  For advisors, helping their clients preserve their investments and protect their assets from eventual liquidation is paramount.  Estate taxes may threaten those assets.  This is why life insurance can be a stalwart hedge against the immediate asset erosion that large estates face upon the death of the primary breadwinner. The Estate Tax Challenge Currently, the marginal estate tax rate for assets transferred is as high as 40%, and it is triggered at the time of death. This tax is not limited to the income generated by assets but applies to the assets themselves. When estate taxes are paid, the capital available for generating future income and wealth is significantly reduced. The burden of paying estate taxes can lead to several challenges. Estate owners are required to pay these taxes with liquid assets, which can pose problems for business operations, property management, or the financial well-being of family members who rely […]