July 10, 2020 | Main Office
Choosing the Right Financial Advisor
There are many considerations when choosing a financial advisor or even whether to choose one. While the value of working with a financial advisor varies, keep in mind that average additional investment returns can range from 1.5% to 4% more each year when working with a financial advisor. People who work with financial advisors report greater financial security, confidence and clarity than those who don't.
June 26, 2020 | Main Office
Streamlined Chapter 11 for Small Businesses
In this time of economic upheaval and distress more businesses are looking at reorganizing. Subchapter V of Chapter 11 offers a streamlined process for small businesses going through bankruptcy. Simplifying the process means that filing under Subchapter V significantly reduces the time and money typical bankruptcy takes, making it more accessible to more businesses. Under Subchapter V, currently, businesses with up to $7.5 million in debt can be eligible. The threshold was raised to $7.5 million for one year as part of the CARES (Coronavirus Aid, Relief, and Economic Security) Act from $2.7 million.
June 19, 2020 | Main Office
Chapter 13 Bankruptcy
Chapter 13 is one type of bankruptcy for individuals. This form of bankruptcy focuses on the reorganization of one's finances for individuals with regular income. It is also known as a wage earner's plan. Debtors develop a monthly payment plan to their creditors for a three to five-year period. Creditors may not start or continue with collection efforts during this time. Chapter 13 is valuable for those who are unable to make immediate payments to their creditors but have income.
June 12, 2020 | Main Office
The term life estate is often heard in estate planning and real estate matters but is often not understood. Life estate is a joint ownership of property. It allows an individual to live in their home until their death at which time it passes to the other owner. Life estates are often established to avoid probate. They can also be part of MassHealth planning.
June 04, 2020 | Main Office
Protecting Your Digital Affairs
A lot of our personal and business lives are now spent online. We pay our bills, shop, watch movies, bank, manage our investments, date, engage in social media, and so much more online. Our digital lives need to be managed and planned for in the event of our disability or death. This should be done within our estate plan as well as outside of it.
May 28, 2020 | Main Office
The Basics of Being a Trustee
It is an honor to be appointed as a trustee for a trust. It is also a big responsibility. There are basic guidelines to follow to being successful.
The first thing you should do is to read...
May 22, 2020 | Main Office
Health Care Directive, The Missing Component
Covid-19 is a reminder of why you need a health care directive. It is a vital component of your estate plan that appoints someone on your behalf if you become incapacitated. Unfortunately the Covid-19 pandemic highlights the need for this very important component. A large number of Americans don't have health care directives as part of their estate plans.
May 19, 2020 | Main Office
Spooner Group at Morgan StanleyQUARTERLY MEMO
TO CLIENTS AND FRIENDS
SPRING 2020.*© Morgan Stanley Smith Barney LLC. Member SIPC.
This is long. So please be patient.
I've written these quarterly memos for many years, in good times and bad, in bull markets and bear markets. In all the panics I've worked in and through, each time,commentators have trumpeted that society would be changed dramatically and perhaps forever.
This time is different. Because every corner of American life will be transformed. In many cases however, the changes may very well be beneficial and transformative in positive ways. Before we get to those many changes, let me back up a bit and talk about previous
panics that I've observed...
May 18, 2020 | Main Office
COVID-19 and Your Estate Plans
The Coronavirus has brought to light so many necessities. The pandemic has also reminded us of the fragility of life. That combination emphasizes the need to have a complete and current estate plan. This article reviews just what makes up your estate plan.