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2023 Outlook Webinar - Midland Wealth Management
Midland Wealth Management hosted a year-end wrap-up and 2023 outlook webinar on 1/25/2023.
Presenters included: Jayne Hladio, MBA, President of Midland Wealth Management and Betsy Pierson, CFA, Chief Investment Officer.
Market Outlook Newsletter 1st Quarter 2023
This last year has certainly been a challenging one for investors. There were few places to hide unless you were invested in commodities or cash.
5 Most Common Beneficiary Designation Mistakes
One aspect of estate planning that can often be overlooked is making sure your beneficiary designations are up to date. Many people think that once you have signed your Last Will and Testament, your estate plan is complete. Not so fast! This may surprise you, but oftentimes a person’s Will governs very few assets at the time of their death. Consider retirement accounts and life insurance: it is not the Will, but rather the beneficiary designation that these assets have that will govern who receives it at the time of death.
Avoiding and Identifying Scams
AARP has reported that 3 out of 4 U.S. adults have experienced or have been targeted by at least one form of fraud. Scams and fraud have soared across the U.S., but reported losses are just the tip of the iceberg. Losses are often not reported because of the shame and blame attached to the victims of fraud. More than 1 in 4 people who reported losing money to Fraud in 2021 said it started on Social Media.
Market Outlook Newsletter 4th Quarter 2022
The market’s roller coaster ride during the third quarter was certainly one of steep inclines and dramatic falls. The S&P 500 ended the quarter at a new low for this bear market after increasing almost 17% from its mid-June low.
Is Your Company Retirement Plan Due for a Checkup?
Many employers offer 401(k) and/or profit sharing plans. Employers, as Plan Sponsors, have a fiduciary responsibility to review periodically the plan’s terms, features, fees, investments with their vendor(s) and their vendors to assess whether any plan changes are required to satisfy the compliance and fiduciary standards required under the Employee Retirement Income Security Act (ERISA). The day-to-day business and employee needs, generally, take precedent which makes it difficult for employers to find time to review their plans.
Do I Need a Trust?
One of the most common questions we hear from clients is, “Do I need a Trust?”
While I like giving neat-and-tidy answers, this is not one of those questions where that can be done. Every person’s estate is a little bit different, and this requires individual analysis before determining if a trust is right for you. My goal in this article is to help you in this analysis, so that we can answer this question for you.v
Market Outlook Newsletter
3rd Quarter 2022
Whether this question brings up good or bad memories, we have all been asked or have personally asked this question while attempting to reach a vacation destination.
Protective Benefits Leaving Assets Trust Fund
When preparing your estate plan, one of the major decisions you will need to make is not only WHO your beneficiaries will be, but also HOW you will your assets to them. Most people assume because they do not have millions of dollars and all their beneficiaries are adults, a trust fund is not the right choice for them. They instead opt to leave the inheritance to their beneficiaries all in one lump sum (what is called an “outright” bequest). If this is you, please take a moment and read this brief article, and see if I can convince you to reconsider your plan in light of all the benefits a trust fund could afford to your beneficiaries.
Inheritance Questions and Considerations
Inheritance is a process that involves passing on material property from one generation to another, usually within the family and traditionally from older parents to their children. As trust officers and wealth advisors, we are often asked, “When is the best time to make a transfer to another generation?”
What to Review and Revise Amidst Divorce
Have you heard the old joke, “What is the number one cause of divorce? Marriage!” Bad humor aside, divorce rates are increasing around the world. The pandemic has presented couples an unprecedented challenge. It may be appropriate to review what actions should be taken by either party if there is a divorce.
Age Electronic Will
Over the past two years, conducting business that requires document signings has been a challenge. If witnesses are required, it’s been even more problematic. No business has been more affected by the effects of social distancing than the estate planning world. However, some states, including Illinois, have taken steps to alleviate these issues when it comes to signing a will. The age of the electronic will has now arrived.