Are Your Clients Liable for Spousal Debt?

Posted by David Haughton, JD

September 11, 2019 at 1:30 PM

“What’s yours is mine and what’s mine is yours” is a typical mantra of married couples. But when it comes to debt, that saying can be scary. Fortunately, the general rule is that spouses are not responsible for each other’s debts (in the legal sense, of course). Therefore, when agreeing to assume a liability, the borrower’s spouse can usually rest assured he or she will not be held responsible if the borrower is unable to meet his or her obligations.

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Topics: Financial Planning

When Students Go Off to College: Financial Planning for Empty Nesters

Posted by Keven DuComb, JD, MBA

September 10, 2019 at 10:00 AM

Go ahead and pat yourself on the back! It’s September, and chances are a few more students just headed off to campus, supported by the college savings you helped their parents grow. The transition is a big one for everyone involved. As young adults, students are facing new financial responsibilities. And parents are figuring out how to adapt to their child’s (or children’s) new independence, while keeping the family on a steady course financially.

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Topics: Financial Planning

No Place Like Home: Helping Millennial Homebuyers

Posted by Anna Hays

May 7, 2019 at 10:00 AM

In your meetings with baby boomer clients, do conversations ever arise about their millennial children? Maybe Michael is finishing grad school, or Lizzy just moved out at 26. Have you noticed any trends in this younger generation—perhaps that after years of dragging their feet to settle down and buy a home, they finally are entering the market? You may want to consider taking note, as helping millennial homebuyers could allow you to expand the reach of your advisory firm.

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Topics: Financial Planning

Understanding the Capital Gains Tax: A Case Study

Posted by Heather Zack, JD, LLM, CAP

April 24, 2019 at 1:30 PM

Capital gains play an important role in every advisor’s life—you are required to walk the tightrope between creating investment gains for clients and managing those gains in a tax-efficient manner. While you probably know the basics when it comes to understanding the capital gains tax (sale price – basis = capital gain [or loss]), you may not be familiar with the intricacies of the tax or how it interacts with the income tax.

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Topics: Financial Planning

Health Insurance for Younger Clients: A Next-Gen Connection Opportunity

Posted by Anna Hays

April 10, 2019 at 1:30 PM

Being young usually means being healthy—but youth is not a guaranteed defense against medical expenses. Advisors often answer questions about Medicare enrollment, but discussing health insurance for younger clients can seem more daunting—especially when those individuals will lose coverage under a parent’s plan at age 26 and don’t have an employer-sponsored insurance option. Understanding their health insurance market will enhance your ability to develop financial plans for clients who are just starting their careers. Your guidance can also alleviate the concerns of clients whose children are selecting health insurance for the first time and potentially attract that next generation to your practice.

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Topics: Financial Planning

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