Estate Planning

By: John P. Napolitano, CFP®, CPA, PFS, MST

By: John P. Napolitano, CFP®, CPA, PFS, MST

By: John P. Napolitano, CFP®, CPA, PFS, MST

By: John P. Napolitano, CFP®, CPA, PFS, MST

Family and money are not the easiest conversations to have – especially when gathering for a family occasion or holiday. Nevertheless, these conversations are appropriate, and should be had if you are curious and looking to be helpful.

This conversation should happen with family members that you care about. Let’s start up the family tree with parents. Sometimes older generations don't want to talk about money at all. But these are questions that must be asked, regardless of their willingness to answer.

By: John P. Napolitano, CFP®, CPA, PFS, MST

When it comes to implementing an estate plan, the word irrevocable is commonly part of the conversation. While it may sound scary to do anything irrevocable, in estate planning are several instances where it may make sense.

By: John P. Napolitano, CFP®, CPA, PFS, MST

The day the Queen of Soul died, I jokingly asked “I wonder what type of mess she left for her heirs”. At the time, the comment was truly in jest, but sure enough just like many before her, it appears that Aretha Franklin died without a will. Why would someone do that is the big question?

By: John P. Napolitano, CFP®, CPA, PFS, MST

It is common to see marriages between a couple where the age disparity is more than a few years. For purposes of this conversation, let’s set the discussion for spouses with an age disparity of 10 years or more. It doesn’t matter which spouse is older. In my experience it’s more common to find a 10+ year disparity where the husband is the older of the spouses.

By: John P. Napolitano, CFP®, CPA, PFS, MST

For many, updating their estate plan is one of the last things on their mind. Yet when a friend passes suddenly or you hear a horror story of an unplanned estate gone awry, the idea flashes. If you don’t care about the following two issues, then go ahead, ignore making any updates and the lawyers and taxing authorities may be your beneficiaries.

By: John P. Napolitano, CFP®, CPA, PFS, MST

It’s no secret that many couples end up airing their grievances in court. About 50% of our married population ends up in divorce. Rarely looked back on with fond memories, the battling and legal costs associated with divorce brings anguish. Almost as rare is a financial planning discussion about the financial consequences of divorce before the final decree is agreed to by all parties.

By: John P. Napolitano, CFP®, CPA, PFS, MST