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NEWSLETTER
v.7, April 15 , 2024
What I’m Working On
The Hidden Dangers of Neglecting Your Estate Plan
In most cases, GreenLife’s new financial planning clients either have no estate plan or their existing plan is outdated. Many new clients learn they should have an estate plan once we begin the financial planning process. Estate planning is a crucial aspect of comprehensive financial management that everyone should prioritize, not just the ultra-wealthy or older people, which is a common misconception.
Estate planning is the legal process of determining who will inherit your money, property, and other assets after you pass away. It also outlines who will make medical and financial decisions on your behalf if you become incapacitated and unable to make those choices yourself. Anyone with assets, dependents, or wishes for the distribution of their estate can benefit tremendously from having a solid plan in place.
Consider some of the potentially scary scenarios that can unfold without proper estate planning:
An ex-spouse inherits most of your assets, even if that was not your intention.
The court decides who will raise your minor children rather than you making that critical choice yourself.
Your college-aged child inherits a large sum of money without any restrictions or guidance on managing it responsibly.
Market Indices
Year-to-date, as of April 12, 2024
Stocks:
Large Cap S&P 500, +7.41%
Small Cap Russell 2000, -1.18%
Technology NASDAQ, +7.75% International MSCI EAFE, +2.40% Bonds:
U.S. Aggregate AGG, -2.04%
Sources: FactSet; Dow Jones Market Data; S&P Dow Jones Indices; ICE Data Services; Bloomberg
Indices; and J.P. Morgan.
What I’ve Enjoyed
I hope you enjoyed the partial solar eclipse as much as I did!
A Celestial Dance
The moon glides silent, steady, Across the sun’s bright face, Painting daylight into shadow, A
celestial dance takes place.
A crescent shines, a ring of fire, The world grows hushed and still, As nature pauses, awestruck,
At this cosmic show of will.
A partial veil, a moment’s breath, The moon retreats once more, Leaving daylight’s full embrace, As
all returns as before.
Yet the memory lingers, Of this cosmic, fleeting grace – The moon’s deliberate, graceful turn,
Across the sun’s radiant face.
“If you do not have a Will or plan for your estate, then the government has one for you.”
Shez Christopher.
