Life’s major milestones greatly affect your finances. Whether you’re starting a family, buying a home, getting married, or going through a divorce, it’s crucial to handle these financial transitions with the right tools and know-how.
Welcome to the conversation of the 3Ds – divestiture, divorce, and death.
Today, Cade Peterson takes on the role of host and interviews Billy and Shaun, both of whom hold Certified Divorce Financial Analyst designations. While this episode delves into their expertise in guiding clients through the complexities of divorce, they also discuss how to manage financial transitions like divestiture (selling a business) and death.
Uncover strategies for the 3D’s as the guys uncover:
Understanding the complexities of selling a business including tax implications, deal structuring, and emotional considerations
The emotional and financial implications of divorce
Personal and client scenarios regarding selling off assets and dividing pensions
End-of-life planning including estate considerations, charitable giving, and the importance of organized documentation
When it comes to the green stuff, even the A-listers fumble – a raw reality check that echoes beyond the red carpet. Let’s take cues from the candid missteps, and navigate the rugged terrain of money management.
Billy, Shaun, and Cade talk about celebrity money mistakes and share consequences faced by a few prominent athletes, stemming from ill-fated financial choices, questionable investment schemes, and the failure to diversify their assets. Through the lens of these high-profile financial missteps, the trio emphasizes six steps to securing prosperity, offering insights that you can integrate into your financial strategy.
This riveting discussion unveils the pitfalls of fame and fortune, plus:
Examples of celebrities facing financial challenges
Lessons learned from celebrity financial mistakes
The importance of estate planning
Risks of “too good to be true” opportunities
Importance of proactive financial and estate planning, and keeping estate documents updated
Today’s guest, John Diehl, Senior Vice President of Applied Insights at Hartford Funds believes that most people have an improper view of retirement. They think their retirement (typically 7-10 years) will be stacked with golf games, lavish trips, and all things that they consider as ‘living the good life.’
But, the reality is that people are living longer thus extending their period of retirement upwards of 20 or even 30 years! So how do you spend two or three decades on nothing but relaxation and recreation?
Most people can’t. (Financially and emotionally)
Listen as John shares his findings surrounding age and longevity, challenges facing the aging population, and advice on how you can combat boredom and rediscover your purpose after you exit the workforce.
This insightful episode explores:
John’s partnership with the MIT AgeLab and his findings from numerous studies
The importance of having a purpose and making meaningful connections
Tips on maintaining brain health, and developing new interests
What is a social portfolio and how it relates to your overall well-being
The natural attrition of friendships as you age and ways to enhance your social portfolio
John Diehl has been with The Hartford and Hartford Funds for more than 30 years. He’s a Certified Financial Planner (CFP®) and also holds Chartered Life Underwriter (CLU®) and Chartered Financial Consultant (ChFC®) designations. As Senior Vice President of Applied Insights, John leads Hartford Funds’ research efforts with the MIT AgeLab as well as other thought leaders. He oversees a team of industry experts who translate this research into actionable ideas for financial professionals and their clients across the U.S. John’s views on the future of retirement planning have been published in the Wall Street Journal, Financial Planning magazine, and other publications, and he’s been a featured guest on CNBC and Bloomberg Television. John also hosts the Hartford Funds’ newly reimagined Human-centric Investing Podcast.
When planning to transfer your possessions to your loved ones, it can be daunting, both due to the burden of paperwork and familial pressure.
This is precisely why developing and arranging a will and trust with a trusted professional is critical.
Today’s guest, Wayne Bennett, Director & Shareholder at Clyde Snow & Sessions, helps his clients sort through the plethora of decisions when making, or updating a will, to assist in resolving family conflict from decisions made by the deceased.
Join Wayne as he chats with Billy and Shaun about:
The difference between a will and a trust, and the role of beneficiaries
Why it is important to choose the right person as your representative or trustee
How to protect younger beneficiaries from mismanaging their inheritance
The probate process and how having a trust can simplify the payout process
Key documents that should be included in a good estate plan
Wayne Bennett focuses his practice on representing individuals and solving problems in both the commercial and personal arenas. With respect to commercial clients, he is experienced in all aspects of tax, business, and estate planning. Specifically, Mr. Bennett works with people and local businesses in need of structuring assistance, business and personal planning, business formation issues, contracts, long- and short-term development plans, tax-related issues and planning, and business exit strategies. He is also proficient in handling commercial leases and commercial finance issues, for both the lender and borrower. Mr. Bennett is very experienced in handling asset purchase and stock purchase acquisitions and sales, as well as real estate transactions. Mr. Bennett has been involved in various merger transactions involving businesses of all types, and in working with banking customers to develop new relationships and to move business accounts to new banking relationships. Mr. Bennett assists a number of local community banks and other lenders with lending-related needs including loan documentation, maintenance, and collection. This work regularly includes reviewing and, when necessary, documenting new loans and advising lenders on how to work through troubled debt with struggling borrowers. With respect to planning for individuals, Mr. Bennett assists clients with their estate planning, estate taxation, wills and trusts, probate, and family disputes involving inheritance issues. With almost two decades of experience, Mr. Bennett has worked with clients on a multitude of estate types and has resolved numerous disputes involving estates and the heirs.
