What is the Elective Share?

When I am helping a financial planner with an estate distribution schedule one of the first thing I ask is whether “everyone is on the same team?” With that question I am asking whether both spouses have a similar testamentary intent and/or are they aware of each other’s testamentary intent?  The reasons that the question… Continue Reading

Avoiding Business Bubbles About to Burst

Nothing lasts forever.  This couldn’t be truer when it comes to business booms.  As the dotcom bubble of the early 2000s demonstrated, what goes up tends to come back down at the same speed.  Any financial advisor or planner will tell you to never count on any “hot” business idea being hot for too much longer. … Continue Reading

Our House Is On The Market

It was about a week ago that we put our house on the market. I never really understood people’s fascinations with their home insofar as I just looked at is as an asset (or liability) if it costs too much to hold on to you just sell it.  If the home no longer meets your… Continue Reading

Do You Know Your Monthly Nut?

Regardless of whether you make $46,000 or $460,000 almost everything in personal finance starts with what I commonly refer to as the “monthly nut.”  I am not sure where I got the term from, but knowing myself I probably giggled at first but now use it almost every single day when discussing someone’s financial situation. … Continue Reading