Commonwealth Independent Advisor

Charitable Giving Solutions: A Guide to Differentiating Your Value

Posted by Heather Zack, JD, LLM, MSFP, CAP

February 13, 2019 at 1:30 PM

A recent study by U.S. Trust, in partnership with The Philanthropic Initiative, found that more than half of high-net-worth investors believe their advisor should play an important role in their charitable giving efforts. But 61 percent of those investors also say they initiate the conversation, not their advisor. How can you change the dynamic and ensure that you’re actively helping your clients meet philanthropic goals? By expanding your knowledge of the more technical aspects of charitable giving solutions.

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Topics: Estate Planning

Conducting a POA Checkup: The Advisor’s Role

Posted by Anna Hays, JD, LLM

December 5, 2018 at 1:30 PM

What do cars, doctors’ offices, and hair salons have in common? Each one reminds you when it’s time for a checkup. Powers of attorney (POAs), on the other hand, do not have dashboard lights, nor do they send texts. Conducting a POA checkup is generally up to the advisor, as clients don’t usually think to do so on their own.

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Topics: Estate Planning

Pushing 100: Tips for Addressing Longevity Risk with Clients

Posted by Justin C. Duft, JD, CFP, CLU, ChFC, CLTC

December 4, 2018 at 10:00 AM

Even today, living to age 100 is considered an impressive accomplishment. But it isn’t as rare as it used to be, thanks to the efforts of those in the medical research field. In fact, according to an article published on DailyMail.com last year, Dutch scientists believe that life expectancy will increase to an astonishing 125 years by 2070! While this may be welcome news to many, it has created new pressures for the financial planning community to help clients prepare for retirement income needs that go past the long-accepted mark of age 90.

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Topics: Retirement Income Planning, Estate Planning

Managing Your Clients’ Tax Liability? Focus on 4 TCJA Changes

Posted by David Haughton, JD

October 24, 2018 at 1:30 PM

The passage of the Tax Cuts and Jobs Act (TCJA) on December 22, 2017, brought significant and abrupt changes to the tax code. The broad impact of these changes has yet to be fully realized, but it’s likely that just about everyone will be affected come tax season. As you work to help your clients pursue their financial aspirations, keeping a focus on managing your clients’ tax liability is essential. An understanding of the following four changes under the TCJA, as well as the opportunities they present, can help keep your clients’ planning strategies on track.

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Topics: Estate Planning

Are You Reviewing the Pros and Cons to the POA Decision with Clients?

Posted by David Haughton, JD

October 23, 2018 at 10:00 AM

A power of attorney (POA) is a document that designates an agent or attorney-in-fact to act on your client’s behalf regarding his or her financial affairs. Without a valid financial POA, a person’s loved ones would need to seek court approval for the authority to make any decisions involving the accounts. Although it seems like an obvious solution, there are both pros and cons to the POA decision, and it’s your job, as the trusted financial advisor, to help your clients determine the best solution for them.

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Topics: Estate Planning

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