An estate plan is essential for protecting the people and things you care about when you pass away, regardless of your age or wealth. However, only 1 in 3 American adults have one. I recommend that everybody create an estate plan and make adjustments anytime their family circumstances change. Your family will be glad you did! How does an estate plan protect your family and legacy? Read on for six key benefits of having an estate plan. An estate plan can determine what will happen to your children, pets, and dependents when you’re gone. If you’re a parent, you need…
Insights & Advice
Tag: estate planning
Reduce taxes by giving smartly
“Should five percent appear too small, be thankful I don’t take it all, because I’m the taxman … Don’t ask me what I want it for if you don’t want to pay some more, because I’m the taxman.” —The Beatles I’m not a big fan of paying taxes. I mean, I guess I like it when roads are paved, cops catch the bad guys, and firefighters save lives. I get it — I need to pay some taxes to benefit from what our society offers. But do we need to pay so many taxes? Isn’t it nice when you can get…
Choosing the Right Life Insurance Policy
How to compare plans based on your specific needs The basic premise behind life insurance is simple: You pay premiums to an insurance company, which then pays your beneficiaries a certain amount after you die. But not all life insurance policies are the same. In fact, the right policy for one person may be the wrong choice for someone else. Understanding the basics of life insurance and what to look for in a policy can help you find coverage that fits your unique needs. What is life insurance? Life insurance is a powerful tool for many different financial situations. Here…
Veteran investor ready to put his knowledge to work for you
Real Money: Straight-up Answers with Berkshire Money Management DALTON — Whether ushering a client through the complications of estate planning or hiking his way to the summit of Mount Greylock, Berkshire native Peter Coughlin always maps out a plan for success. Planning has kept him thriving in the personal finance business for close to 35 years. Coughlin is from Pittsfield, born and raised. The certified senior adviser and executive director at Berkshire Money Management is often found on the Appalachian Trail or in the saddle of his road, hybrid or mountain bikes on the roads here in the Berkshires. “I hike Greylock…
Let Berkshire Money Management map it out for you
Whether you’re planning for retirement or selling your business, this Dalton firm is ready to optimize the experience so you get the most out of your assets, and your life DALTON — Allen Harris wants you to picture two dollar amounts in your mind. For the first number, the CEO of Berkshire Money Management wants you to envision the amount of money you think you’ll need to retire. For the second figure, he asks you to envision how much your small business will be worth when it’s time to sell. Got the numbers clearly visualized? “Well, they’re almost always wrong,”…