Your Clients & Their Children: Solutions To Joint Bank Accounts

If you didn’t get a chance to read my first article on this subject, Your Clients and Their Children: The Problems with Joint Bank Accounts, it may be helpful to review it as a means of providing context for this article. As noted in that first posting, if a client couple wishes to make their bank accounts into joint accounts with their children, there are various resolutions for handling that wish efficiently and in less risky ways.

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Your Clients & Their Children: The Problems With Joint Bank Accounts

Do you get the recurring question from clients that I do, from time to time, about bank accounts? I’m referring to the issue where an elderly mother or father wants to add their child’s name to one or more of their bank accounts. In simple terms, the logic makes sense, as most parents want to assure that their bills, mortgages, insurances or even funerals get paid for should something happen to them. Yet most elderly clients and children don’t realize the risk that this small transaction creates.

Remind Clients of the Non-Market Returns You Provide: 7 Examples

Now that I’ve finally come up for air after a daunting 2012 tax season, which kept me away from my writing my monthly column in April, I want to discuss whether you’ve ever explained or shown your clients their non-market related return on investment. The simplified method of looking at a monthly statement to assess whether their money has increased or decreased is basically what all our clients use to determine the value that we as advisors provide.

Candy Economics at Halloween and Our Tax System

At our house over the past few weeks, it’s been candy, candy and more candy after a few days of local church-sponsored Fall Festivals and trunk or treat events (or trick or treat – depending on where you live). Like most parents of young children across the country, my wife and I, along with our “University of Alabama squad” – including a 5-year old dressed as a cheerleader, a 4-year old suited up as the quarterback and a 1-year old decked out as Big AL (the university’s elephant mascot), embarked on our annual Halloween candy extravaganza.

An Advisor (and Client) Wish List for the Next President

My annual “wish list” usually coincides with the coming of Christmas, but this wish list is a little different, and one that I believe to be of dire importance for all Americans. So what do I (and my clients) wish for from our next president (and those elected to Congress) come November? 1. Simplicity We need a president that will take complex issues and easily explain them in simple terms so everyday Americans can make better decisions for all rather than just themselves. Our political landscape, world events and life in general is unbelievably complex today.

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Playing to Win Still Matters in Football, the Markets and the Economy

Has anyone noticed the fantastic few weeks of college football we’ve had so far this year? If you haven’t, you must not live in the South or have the pleasure of experiencing SEC football, or better yet, Alabama football. With a mounting total of 14 national championships, the University of Alabama’s football history is like no other program, especially in the last three years. The school, coaches and players have shown their continuous desire for achieving maximum success on the field, to be sure.

Gas Pump Stops Automatically-It Just Does Not Make Good $ense!

Are we rationing gas?  Seems to me that we might be. But some things just brother me and there does not seem to be a reasonable justification for it.  Let me explain.  I own a 1998 Toyota Land Cruiser; it’s paid for and has 275,000 miles on it.  I love it, but it’s a V8 and requires premium gas.  The tank holds about 22-24 gallons which means, at 15 miles a gallon, it’s a sizeable bill every time I fill up.  But based on the prices of new vehicles, it’s less expensive to pay more for gas versus purchasing a new vehicle that may get better mileage.

Andy Gives a Presentation to UAB Periodontal Students

In May, Andy was invited to give a presentation to the UAB Dental and Periodontal Residents regarding financial tips and information beneficial to decisions they will face, both personal and professional, once they are out of school and working.  Among the topics Andy explained were how to choose a mortgage and the options and benefits associated with each of them, seeking partnerships, evaluating partnership offers, investing for their future and smart decision making from the beginning.  The students

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