Legacy planning goes beyond simply naming beneficiaries for the material things you leave behind. It includes documenting your wishes, consistent with your values, with your loved ones in mind. Start by identifying your wishes and speaking with family members to clarify your goals, hopes, and vision.

Legacy planning goes beyond simply naming beneficiaries for the material things you leave behind. It includes documenting your wishes, consistent with your values, with your loved ones in mind. Start by identifying your wishes and speaking with family members to clarify your goals, hopes, and vision.

When your loved one dies, you might inherit the overwhelming responsibility of winding up their life. Aside from the funeral or memorial, there is much to attend to, including closing financial accounts, canceling recurring payments, and preparing the decedent's final tax return. Many of these tasks require focus and attention, which can add stress to an emotional time. Be kind to yourself. Don't try to handle everything alone if you don't have to. When people ask if they can help, take them up on their offer.

Grandparents of means have several options for passing their wealth on to their grandchildren. The best option or combination of options for your situation depends on several considerations. Among them are the ages of your grandchildren, whether any have special needs or disabilities, whether college or post-secondary education is a viable option, and the gift and estate tax implications. This paper presents a brief introduction to several options for grandparents to reduce their gross estate while leaving a legacy for their grandchildren.

You are welcome to use this checklist to guide your estate and legacy planning and to aid your loved ones in gathering the information and documents they will need to administer your estate.

Jack and Diane recently sold a business, transitioning from high income last year to a much lower income in 2024. Additionally, Diane inherited a substantial IRA from her mother a couple years ago and would like to use a portion of the inheritance to honor her.

• Technology companies continue to propel stocks higher year-to-date; however, concentration risks are high and potential for a valuation adjustment is elevated should optimistic growth forecasts fail to materialize.

• Strength in technology has masked underlying market weakness and the “Magnificent 7” continue to have an outsized impact on market returns and investor portfolios.

• To reduce exposure to market-cap weighted indexes and improve the valuation profile, we increased the allocation to value and managed strategies in our domestic equity portfolios.

Welcome to the Spring 2024 edition of Towneley’s newsletter. The theme is "Spring Cleaning: Getting organized with your finances." We will focus on taking easy steps to maximize your finances in 2024. Thank you for taking the time to read this issue, and we hope you and your family are well!