Volume 15 | Issue 1 | Winter 2015
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2
Another Day, Another Victim
Beware of IRS phone scams
3
Infographic: Year-End Tax Planning
4
Know & Grow: How Much Is Your
Business Really Worth?
6
Small Business Corner: 7 Tips For Hiring
The Best Finance Folks For Your Business
8
Bright Client: Investment Partners LTD
Choosing to partner rather than sell
9
Bright People
Rea’s employee highlights
10
Take Control Of Your Property Taxes
Or Someone Else Will
12
Signing On The Dotted Line
Know what your pipeline easement
agreement entails before signing
Making Moments Count:
Family Financial Challenges
SIX THINGS YOU CAN DO TO
PROTECT YOUR LOVED ONES’ ASSETS
T
he value of our existence is measured by an infinite collection of
meaningful moments that have
shaped our lives and the lives of those
around us. Perhaps our most precious
moments occur when we positively
impact the lives of our loved ones. We
are all capable of initiating these moments
and, sometimes, a simple conversation
is all that is needed to provide insurmountable relief – now and for years
to come.
Even if they have never expressed their
concern about the realities of aging
before, it is almost certain that your
parents are worried about their own
mortality. Because this topic doesn’t
typically find its way into casual conversation, it is your responsibility to
broach the subject. Your parents will
be grateful you did.
Here are six things you can do now to
actively protect your loved ones’ assets:
1. Overcome
Your Discomfort
The first conversation about your
loved ones’ finances
is probably the most
uncomfortable one,
but it’s also the most
important. It’s uncomfortable to talk
to our parents about
By Dave McCarthy,
their death. Mom
CPA, CSEP, principal,
and Dad don’t find
and Frank L. Festi, Jr.,
it thrilling either beCPA, CFP, principal
cause they don’t
(Medina office)
want to be a burden.
But as awkward as it is to discuss, you
may eventually be shouldered with the
responsibility of managing the affairs your
parents leave behind.
2. Set Up A Power Of Attorney
In order for you to assume this important
role, you must be named as your parents’
power of attorney. This step gives you
continued on page 11