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Month: October 2017

Planning for your children’s education – Life insurance policies, college funds and more!

Planning for your children’s education – Life insurance policies, college funds and more!

Every parent wants to provide the best to their children and probably the biggest and most expensive challenge will be sending them to university. University education is critical as it may be the key for your children getting a better job with a higher earning capacity, in the future. University tuition and fees are climbing really fast, with the average yearly cost averaging between $24,610 for public and $49,320 for private colleges in the US (2016-2017 academic year). If you…

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7 ways to financially support the new professional athlete in your family

7 ways to financially support the new professional athlete in your family

by   Beth Buckley Morgan Family Business Wealth   Wait.  What?!!  Shouldn’t it be the other way around?  Didn’t he just hit jackpot?  While most families appreciate and respect the fact that this money was earned by their athlete, there may be others in his life who have a different perspective on his newfound wealth. You were his first fan.  Early morning practices, long days, late nights with piles of homework, endless laundry.  Through school, he sacrificed for the sport…

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Protecting Your Family from the Inevitable: Estate and Inheritance Planning

Protecting Your Family from the Inevitable: Estate and Inheritance Planning

A number of people prefer not to focus on their mortality; others simply do not believe that it is a necessity.  In both cases, not planning for your departure from this world can be a major mistake.  You should put in place an estate plan to ensure that what you have built in your life so far will be there to provide for your children and perhaps later generations as well.  The absence of a will and an estate plan,…

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Getting married! Set up your financial relationship and let your love flourish.

Getting married! Set up your financial relationship and let your love flourish.

Marriage is considered as one of the most important events in a person’s lifetime. Couples usually spend a lot of time planning every little detail, and may even hire a wedding planner to assist them through the whole process. What many couples choose to skip before “tying the knot”, intentionally or not, is setting their common financial future on the right basis. Prenuptial agreements are a necessary legal step, to spell out a couple’s financial relationship before marriage. A prenup…

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Protecting your assets and your family

Protecting your assets and your family

Athletes usually create their wealth at a very young age and in a short period of time.  Therefore the preservation and protection of this wealth for a longer time horizon is of utmost importance.   While all people need to protect their wealth and other interests, the special nature of the sports profession leads athletes to have special asset protection and estate planning considerations that are quite different from the more common issues addressed by estate planners.  In the world…

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October 2017 Editorial

October 2017 Editorial

The family of the Money Smart Athlete is an integral component of the athlete’s success.  The lives of athletes go through transitions and changes in a much faster pace than those of everyday people.  The families of athletes are very much affected by such changes and transitions. Apart from being on the road and on a strict training schedule, there is always the possibility of the athlete being traded, or signing up with a new team in another city or…

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