Life is a series of transitions: Learning to walk and talk. Getting your first driver’s license and car. Graduating from high school and college. Beginning your career. Getting married and having children.
Fortunately, most of life’s transitions are occasions to celebrate. But life also has a way of throwing us curve balls when we least expect it. That’s when competent advice and guidance from an objective perspective can make the difference between moving forward and losing track of your important lifestyle goals.
Loss of a Loved One
Among the most stressful circumstances we all face is the loss of a loved one. This is a time when caring, objective advice from a trusted advisor is needed the most. The most common question we receive from clients and prospective clients following the loss of a spouse or parent is “What should I do now?” And our answer is always the same: “Exactly what you are doing – seeking help and objective financial guidance.”
What to Do When a Loved One Dies
There are a number of important steps that recently widowed individuals or adult children who have lost a parent need to take to protect themselves and their assets at a vulnerable time. As a dedicated advocate for your well-being, we can provide guidance regarding account name changes, life insurance claims, asset transfers, beneficiary updates and more.
We will help you understand your current and future sources of income and any areas of financial risk to assist you in making important financial decisions with clarity and confidence when you are ready to do so, discussing these topics and more:
- Investment Management
- Tax strategies
- Risk Management
- Long-term Care
- Social Security benefits
- Pension benefit planning
- Estate Planning
- Trust Services*
- Charitable Giving
- Lump sum distributions
*LPL Financial Representatives offer access to trust services through The Private Trust Company N.A., an affiliate of LPL Financial.
Contact Us to learn how we can help you during a difficult and stressful time.
Divorce can result in significant financial challenges and changes. Proper planning now can help preserve your current lifestyle and secure your financial future. We can help you plan, prepare and pursue important financial and lifestyle goals, educating you about the financial implications at each stage of the divorce process.
BEFORE YOUR DIVORCE
- If needed, we can refer you to an outside attorney or mediator.
- We will help you gather the financial information you need as you begin to work with your attorney or mediator.
- We can demonstrate the potential short- and long-term impacts of different financial decisions and arrangements through scenario planning so you can make informed decisions.
DURING YOUR DIVORCE
- We can provide your divorce attorney with financial analyses and projections to help substantiate your negotiating position.
- We can help you develop a budget and manage any changes in your immediate financial situation as a result of supporting two households during the divorce process, or other circumstances.
AFTER YOUR DIVORCE
- We will assist you in the transition of your assets.
- We will help you establish your new budget based on your lifestyle goals.
- We will provide advice and develop a strategy for managing your investments and your income needs now and in retirement.
Contact Us to discuss your divorce financial planning needs.
Career Change or Job Loss
Whether you are transitioning to a new employer, making a career change to pursue other interests, or have recently lost your job – there are many important financial considerations to weigh.
- Should you leave your 401(k) at your previous employer or roll it over to an IRA?
- How will an increase/decrease in salary or compensation impact your retirement goals and planning strategy?
- Have you saved enough to retire early?
- Does your new job or career offer adequate life and disability insurance benefits?
- What type of retirement plan(s) does your new employer offer and will you be immediately eligible to participate?
- Do you have stock options or other deferred compensation through your new or former employer than may impact your income or tax strategy?
- Are you starting a business of your own?
We will take the time to listen and understand your situation and goals, before or after your job change, and help you make clear decisions about these and other considerations:
- Income/cash flow
- Risk management/insurance planning
- Investment tax planning strategies
- Retirement planning
- Estate planning
Why Consider a 401(k) Rollover?
Multiple savings and investment accounts can actually make it more difficult for you to understand your complete financial picture and develop a comprehensive saving and investment strategy. By rolling retirement plan assets from a previous employer plan into a single IRA – a 401(k) rollover – it becomes easier to see what you have, while also reducing the number of statements and accounts you have to track.
Consolidating your retirement assets:
- Helps to simplify retirement planning
- Provides an opportunity to optimize your asset allocation
- May provide broader access to investment choices and strategies
- Simplifies RMD calculations
When you consolidate your retirement assets with Mark Angelo Financial Services, you gain focused expertise, objective guidance and ongoing advice for managing your assets and adjusting your strategy over time.
Contact Us to learn more about initiating your 401(k) Rollover.