Stimulus Liquidity Drives Markets Higher – Are We Entering An Inflationary Period?

While some observers are uncertain why markets are rallying, others see the vast amount of liquidity from stimulus driving markets higher. Some analysts are revising future estimates higher – which may be beckoning an inflationary period we haven’t seen in 40 years. Annex Wealth Management’s Dave Spano and Derek Felske discuss.

Even as an employee every week I look forward to receiving Annex’s Axiom. What I like best is it isn’t just a recap of what the markets did the previous week, anyone can look that up online. Instead the articles are informative, and the polls make the Axiom interactive which I enjoy. Hope you enjoy this week’s Axiom!

– Guest Editor: Ken Symes | Branch Director, Mequon Office

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Create A Simple Guide To Help You Be A Better Executor Or Trustee

Few people have extensive experience settling the final affairs for a loved one. If you’re ever asked to take on the role of trustee or executor, it’s often involving the loss of a parent or spouse, which can be especially traumatic. Post-trauma is often a bad time to be wondering exactly what needs to happen or how to get things in order.

This week’s Money Do is for those who have been appointed a trustee or executor: Create a ‘save for later’ simple guide to help you better navigate those trying times.

1. Know What’s First

It’s important to remember to rely on others for guidance and help during the process, rather than trying to go it alone. Start by notifying friends and family to coordinate funeral arrangements.

2. Understand Timing

Dealing with the financial matters immediately after a loved one passes is not as critical as many people think, as very little can be done until a death certificate is issued.

3. Gather Documents & Information

Once things have calmed after the funeral and you receive death certificates, start by gathering all the estate planning documents that exist and locating or creating an inventory of the individual’s assets and liabilities that includes joint owners and beneficiary information.

4. Contact Key Financial Institutions

You can also start contacting the various financial institutions, but they may not provide you with much information initially. Don’t be frustrated by this as there may be additional legal formalities required to allow them to release information to you.

5. Don’t Be Afraid To Seek Legal Help When Necessary

As you review asset and account information, you may find that you may be required to execute transactions or give direction to various financial institutions. If so, you may want to engage an attorney to help with proper documentation for the trust or initiate a probate proceeding.

This is often the step people skip to keep expenses down; however, engaging an attorney will likely accelerate the process and make things go much more smoothly. Too often we see people try to go it alone that creates much more of a mess that an attorney or accountant will need to undo or retrace all the prior steps to bring things across the finish line.

6. Keep Accurate Records

There will be various tax returns required during the process, so keeping accurate records is important. Prior to making distributions to beneficiaries, it’s important to determine the extent of any liabilities, taxes, and additional administration expenses that must be paid first.

7. Collect Yourself; Then Communicate

While all these items are important from a process standpoint, the most critical element is to have frequent communication with all beneficiaries throughout the process to keep them informed as to status and timing along the way.

8. Practice Patience

The process of settling an individual’s final affairs will take anywhere from 6-18 months to complete depending on wealth, complexity and family dynamics. Remember to be patient and not to rush into any decisions that you may regret later.

Does You Advisor Prepare You For Changes To Your Permanent Residence Or Domicile? 

There are a myriad of financial and nonfinancial considerations in picking a domicile. If you are considering a change of domicile or have concerns about planning where your primary residence might be, our team is ready to help you.