TheLiveBigWay® Digest: Prepare and Prevent

TheLiveBigWay® Digest: Prepare and Prevent

You Thought You Were Done? Maintaining Your Estate Plan

Estate Plan Documents

How often do you think about your estate plan? Most people think that once the process of creating an estate plan is done, the plan can simply sit. Guardians are assigned, beneficiaries designated, power of attorney is in place, and health directives are made. But what happens when the plan cannot or should not be executed exactly as you originally intended? We offer a list of situations and other consideration that may compel you to make changes to your plan.

In Case You Missed It: Checking In

You’ve no doubt noticed the downdraft in global stock markets, and the current consensus is that investors are worried about the impact that a spreading Coronavirus will have on global economic growth and corporate profits. We share a chart courtesy of Charles Schwab & Co. showing the impacts of global epidemics over the past 50 years. Check out the chart and our recommended action here.

Coronavirus economic impact

Daylight Savings Money Reminder

Success financial business with retro clock

Daylight saving time begins this Sunday and for many, this temporal adjustment can cause the body’s internal clock to be thrown off track. In a similar way, life events including medical emergencies and unexpected home and car repairs can threaten to disrupt your financial rhythm. Let’s use this adjustment as a reminder to always be prepared – learn more about best practices for an emergency fund.

Tips to Thwart Tax Thieves

Protecting your identity and your taxes can feel like an uphill battle. Each year around this time, we like to share reminders of best practices to keep your identity safe, as awareness is a key component to protecting yourself. It’s important to review this information regularly, as fraudsters come up with new scams every year. Read on for some simple and practical tips to help you in protecting your taxes and overall identity.

Hand is holding phone with irs scam calls.

2020 Tax-Filing Season

2020 Tax Company. Colorful stickers with reminder at 1040 tax form close up

As we expected, Schwab has released corrections to the original 1099 forms that were released in February. These corrected forms have been posted to your Schwab Alliance account. Step-by-step instructions for accessing the online forms can be found here. If you have any trouble accessing your forms, please don’t hesitate to give us a call so we can help. Looking ahead, Tax Day is just six weeks away – please feel free to contact us if we can provide assistance in any way.