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Quiet Trusts Popular Amid Gifting Boom – The Wall Street Journal

WSJ-LogoHave you chosen to keep your net worth a secret from your heirs? Have you considered setting up a trust, and decided not to tell the beneficiaries about their eventual inheritance?

Arden Dale, a reporter for The Wall Street Journal, wanted to know how often my clients request to keep their wealth a secret from their heirs, and if I typically recommend the use of Quiet Trusts. Quiet (or silent) trusts restrict the ability for the trustee to share information about the assets in a trust with the beneficiaries.  Normally the duty of the trustee is to the beneficiaries of the trust, but with a quiet trust, they are limited in what information can be shared. Read more..

How Would You Spend The Powerball?


The Powerball has finally been won! The $580 million prize is the second largest lottery ever awarded, and certainly caused a ticket buying frenzy over the last several days. Although I didn’t buy any tickets (see: 11 things more likely to happen than winning the Powerball jackpot), I love using the lottery as a way to encourage my clients to dream.

Even if you didn’t buy a ticket, I bet you thought about what you would do with all that money. I sure did! Buy a vacation home in the Alps, travel the world, give to charity… the list is endless. Take a minute and write down everything you said you’d do if you won the lottery. If you aren’t already wealthy, $580 million (you would actually get about half of this after taxes and if you took the lump sum, but let’s ignore that for now) is enough to pretty much do anything you want. So… what would you do? Read more..

Going Paleo – Lessons Learned About Personal Finance


I have become a CrossFit addict. One thing I have learned about CrossFit is that you either love it, or you don’t do it. If you haven’t seen the CrossFit Games on ESPN, you should check it out. It is a program that focuses on functional movements by doing high intensity and varied workouts.

Along with CrossFit came the Paleo lifestyle (diets are short-term, lifestyle is long-term).  Eating Paleo (short for paleolithic) means eating the types of foods than our ancestors ate. This breaks down to a lot of meat, vegetables and fruit. It cuts out processed foods, sugars, grains, and such.

While “going Paleo” has been difficult, my wife and I have made the transition much better than I expected. I believe understanding how people change and adopt new habits has been helpful in making the transition. Here are a few of the tenets we have used to go Paleo, and how they can help in our personal financial lives: Read more..