This entire personal finance blog is about “letters” being written to you (Mr. Market), the fictitious character that exhibits all sorts of emotions due to the gyrations of the stock market. What letter, however, is the most important one YOU could ever write?
It’s called a “Letter of Final Wishes” (LFW), or as we’ve described it to our clients at My Portfolio Guide, LLC, a “Letter to My Family: Things you should know“. On page 6 of the Spring edition newsletter of “the Guide” (click here if you have not seen it yet), we touch on this very important gesture that you can do for your family. Aside from the legalities of estate planning, this exercise is perhaps the single most loving and considerate document you can create for your family that they will forever be grateful for.
Our template (which we share below) is not a legal document and should never replace your will or living trust along with all the other ancillary documents such as a health care proxy or power of attorney.
Over the past couple of months we’ve had all eyes on you and to state the obvious it’s been a wild ride! With all the recent volatility, the risks (and rewards) of the stock market were on clear display but today we switch gears to a different asset class and share some insight from our friend and guest author, Mr. Brian Chou, Esq.
Owning investment real estate can be a very rewarding and profitable experience, but it can also be a huge headache and a drain on resources. I remember when I purchased my first investment property several years ago, my head was filled with conflicting images of myself sunbathing on my private island and lying penniless in a gutter. The possibilities and the liabilities seemed endless. Continue reading →