An Important Conversation How to Talk About Your Estate With Your Family Members Passing on your wealth to family or the charitable organizations you care about is an admirable goal, one we help our clients reach. As part of the planning process, we coordinate with your estate planning attorney to accomplish your objectives effectively and efficiently. The one thing we and your counsel can’t do is make this process much easier to talk about with your family members. We can, however, offer a few pieces of advice. FIND THE RIGHT TIME AND PLACE You don’t want to blindside your relatives by bringing up your estate plan over morning coffee or a holiday dinner. Let your family members know you want to have the conversation, and set aside time to have the discussion, whether as a family unit or on a person-to-person basis. You could even bring a family member along to your estate planning meetings to make sure they stay looped into the process. START WITH YOUR PHILOSOPHY Rather than launch into the nitty-gritty details of your assets and the avenues you are using to pass them on, begin with your reasoning behind your estate plan. Do you want to divide up your assets among your children equally? Is it important to you that a certain grandchild has money for a college education? Will you leave money to a charity or organization that is near and dear to your heart? There are no wrong answers when it comes to your estate, but outlining your values and reasoning will help your family members understand your last wishes. REMEMBER TO LISTEN Family members will always have goals and interests of their own, and it’s important to take these into account. Maybe you plan on leaving property to a son who wants to move out of state, for example. Listening will help you make adjustments that fit your family’s needs. Discussing what will happen after you’re gone will always be difficult, both for you and those who care about you. But discussing your estate plan with the people it will impact is an important part of the process. Take the time to answer questions, listen, and address concerns to keep your family members from being surprised or confused when your estate plan goes into effect.
ANTIQUING IN THE AGE OF EBAY How to Score the Best Deals
Antique stores are not as common as they used to be. Thanks to online shopping and websites like eBay, it has gotten slightly harder to find quality antique items and good deals. All too often, it seems like sellers rely on eBay and similar websites as a point of reference to price their items, even if eBay isn’t the best avenue to gauge the market. For those of us who love antiques, this can be discouraging, but don’t fret! In the era of mass-produced, low-quality home goods, antiquing is very much alive, and it is still possible to find the unique items you’re searching for. The styles of yesteryear can still be found tucked away in dusty little shops — if you’re willing to put in the work to find them! Here are a few tips for finding those treasures in the age of eBay. Inspect the Item Good, old-fashioned antiquing comes with one major perk you won’t get on eBay: You get to inspect the item personally before making a purchase. You can investigate the condition of the piece and ask questions about its authenticity. If you notice certain flaws in the item, you can bring that up when it comes time to haggle. Haggle! Don’t forget to bargain with the seller! Being able to negotiate the price of an item is another huge benefit of visiting an antique store in person. While some sellers can ask for a “best offer” on their online listings, many don’t, giving buyers next to no flexibility. A lot of people may be too intimidated to haggle, but when you take the time to do it, you will almost always save a little money. Do Your Research As a buyer, you want to have reference points regarding authenticity, condition, and price. If you find an item you’re interested in, take some time to research it further. It’s great to have your smartphone on you so that you can do some digging before extending an offer or making the purchase. The more informed you are, the greater the chance you’ll get a good deal. Have Fun Antiquing is about discovering hidden gems and having fun along the way. When you’re traveling or exploring an area you’ve never been to, visiting antique shops can be a wonderful experience chock-full of history and one-of-a-kind items you wouldn’t otherwise come across. When you go in with an open mind, that’s when you find the greatest treasures!
The information contained in this newsletter is derived from sources believed to be accurate. You should discuss any legal, tax, or financial matters with the appropriate professional. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Securities offered through The O.N. Equity Sales Company, Member FINRA/SIPC (www.FINRA.org/ and www.SIPC.org). Investment Advisory Services offered through O.N. Investment Management Company and FAI Advisors, Inc. Financial Architects, Inc. and FAI Advisors, Inc. are not subsidiaries or affiliates of The O.N. Equity Sales Company or O.N. Investment Management Company. We have representatives currently registered in the following states: AL, AZ, CA, CO, DC, FL, GA, IL, IN, LA, MD, ME, MI, MN, MS, MO, NC, NJ, NV, NY, OH, OR, PA, SC, TX, VA, WA, and WI.
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