Stop & Think: Important Financial Advice for You and Your Family!

Your 84-year old father who has been in good health his entire life just had a massive stroke. He made it through the crisis but now needs skilled rehabilitation. STOP and Does he have enough long-term care insurance to cover his expenses? Will Medicare or Medicaid pay for all or part? Do you even know where he keeps his important documents such as medical policies, various wills and estate documents in case they are needed? Perhaps your favorite aunt left you and your spouse a $25 million inheritance. You have heard the government will take most of it for taxes unless you donate some of it to charity. You know very little about philanthropy and even less about choosing a financial advisor to help you. Should you hire a CPA, an estate planning attorney, wealth manager, your brother-in-law? STOP and Are you going to pay more in fees for financial guidance and legal costs than you would in taxes? If you choose to be a donor to your favorite charity, how do you know the money will be used for the purposes you intend? These are just a couple of the issues you will face when you receive a lump-sum distribution. Or maybe you are ready to retire, and you have a 401(k) with more than $1.5 million in it. You know you have to roll it over but are not sure which investment vehicle or investment choices are best for you. STOP and Will you have to pay penalties for early withdrawals of your money for monthly income, what kinds of taxes will you be faced with? Maybe you should just keep your 40l(k) at the company, but you don t know the pros and cons of doing so. As a small business owner for the past 25 years, you are now ready to either sell your business or pass it down to your children. STOP and Do you have a succession plan? Do you have a knowledgeable advisor to help you with the valuation of your business? Who will help you make the transition and how much will it cost you in terms of time, taxes, fees, and peace of mind? These and other equally important issues are discussed in STOP & THINK. Each chapter, written by financial professionals, offers advice of extreme importance to you and your family s financial futures. By sharing this book with family and friends, you will be doing them a great service.