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Fee-only
Financial
Planning

The GOLD Company does not sell any products and is compensated ONLY from the company's clients. No commissions are taken on any products.

I sincerely enjoy meeting people and getting to know them. The Gold Company strives to return calls promptly and takes a genuine interest in your needs. I work hard to personalize a plan that best fits your needs, budget and future.

The Money Prof

Wednesday, February 5 2014

An Important Gift for your Loved Ones

Holiday gifts can be fun, but are they everlasting? Another shirt, more jewelry, flowers - yes, they can be nice, but are they important in the long run? How many spouses are in the dark about their financial affairs during the marriage? When the financially literate spouse dies, are there any financial instructions and directives? Financial communications to loved ones is an important gift and necessity to the ones you love.

It's never too early (or late) to provide financial instructions and directives to your spouse and children. Historically, there has been a tendency in families where only one of the spouses to be the "money person" of the partnership. This is changing as access to education, spousal careers and independence is evolving. However, many of the "older" baby boomers and those in their 70s and 80s leave little instruction to surviving spouses. This can become a heavy burden upon death. It is not difficult to keep all financial details in manila folders that can be easily found. The following is some of the information that should be discussed while both spouses are alive, but at the very least included in a memorandum which should be accessible to the surviving spouse:

  • Location of final resting place

  • A list of all investment accounts including custodians, contact information, portfolio positions.

  • A list of all bank accounts

  • A list of all insurance policies including all life and health and property casualty policies.

  • A list of all real estate including locations, mortgage information, and deeds.

  • Budget information - a list of monthly expenses with contact information. Online banking user-ids/passwords should be made available; all checkbooks easily accessed along with credit card information.

  • All internet user-ids and passwords.

  • Health care information

  • Income tax information includes the past year's 1040 form with a schedules.

  • This information should be modified and updated periodically. Your spouse will be very thankful to you!

The GOLD COMPANY will help you achieve financial well being.

Offering the following services:
  • Investment Portfolio Assessment

  • Portfolio Development

  • Securities Portfolio Management

  • Retirement Planning

  • Insurance/Risk Management Review

  • College Planning

  • Real Estate

  • Estate Planning

  • Business Analysis

OFFICES IN MAINE AND FLORIDA

145 Newbury St.
Portland ME 04101
207-650-7884
moneyprof.oob@gmail.com
6427 Tiara Drive
Boynton Beach, FL 33437
561 894-8436
moneyprof.oob@gmail.com