WH Cornerstone Investments Newsletter
Working with you to achieve a future that is greater than your past
Greetings!
The elections are over. Some of us are elated and some
of us are disappointed. Here is WH Cornerstone’s
take on the whole election and what it means
to your investments.
The White House is still occupied by a Republican;
Congress by the Democrats and the Senate is evenly
divided. What this means is “gridlock”. Not much
will get passed in the next two years. Don’t expect
changes on big issues like taxes or health care. You
can expect a meaningless increase in the minimum
wage and you can expect to see congressional
hearings like never before.
Wall Street likes gridlock, primarily, because it
means no change. This means your investments should
fare well. While there is always geopolitical
events that can drive market volatility, we are
predicting stable results. History shows that stocks
actually do better under divided government. This is
good news for us all.
Time to Share. Create a Buzz. The doors of
Panificio
Back Bay opened in August to rave reviews. Yummy
homemade breads like Tuscan Scuro,
Sicilian Olive Loaf, and Pane Rustico. Maybe you
would like a panini for lunch or a half roasted
chicken for dinner. Don't forget to stop by for
weekend brunch...it's a real treat! Panificio
Back Bay is conveniently located at 61
Massachusetts Avenue at the corner of Commonwealth
Avenue. Stop by and say hi to "Sully" (a/k/a Mike)
and tell him his sister Paula sent you.
Happy Thanksgiving—Paula and Bill Harris
Have a tightwad's Christmas
Try these ideas for keeping holiday spending under control, finding alternative gifts and making your hard-earned dollars go farther this year.
Money's tight, the credit cards are maxed and you're
not much of a hand at making crafts anyone would
want to receive.
Avoiding stock scams
Don't give into e-mail from unknown senders who encourage you to buy a stock.
The stock market has been breaking records. And
wouldn't you know, scam artists have just come out
of the woodwork.
Do you think rich?
Take this test to discover if you possess the traits
associated with wealth -- and get some advice on how
to improve your outlook from ''Rich
Dad, Poor Dad''
author Robert T. Kiyosaki.
You slept where?
With beds of ice and living rooms made from helicopters, the world's most unusual luxury hotels are trips in and of themselves.
When the Smith family decided to build an exclusive
resort in the northwestern Connecticut hills, they
wanted to create something different. Really different.
Your free financial report card
Are you doing enough to prepare for your later years? Your annual Social Security statement can help you figure out how your net worth and paycheck measure up.
The Social Security statements that U.S. workers get
every year -- typically about three months before
our birthdays -- are meant to accomplish several
tasks, including to:
- Remind us that Social Security still exists,
even if it is in trouble.
- Offer an estimate of future benefits.
- Help workers spot missing earnings or possible
wage fraud.
Prenuptial agreements
by Barry Gordon of Gordon, Mond and Ott Attorneys at Law
While planning for tomorrow is often a challenge,
given the length of some marriages and “marital
arrangements”, it is never too soon to consider a
prenuptial agreement, a postnuptial agreement or a
joint ownership agreement.
A prenuptial agreement is a contract entered into by
two people who are planning to get married.
Typically, the agreement will address what happens
to financial assets in the event of death and
divorce. This is especially important if one of the
people to be married is wealthier than the other,
older than the other, expecting a very large
inheritance, entering into a second marriage or
staying home while the other spouse is building a
career.
In order to insure that a prenuptial agreement is
enforceable, both parties should have legal counsel,
and there must be full financial disclosure of all
of the assets of the parties. It is also important
that the agreement be signed as long before the
wedding date as possible to prevent the argument by
either party that they were coerced or under duress
when signing it. Once done, the agreement may be
enforceable even if it doesn’t seem “fair and
reasonable” at the time of divorce as long as it is
not deemed “unconscionable” at that time. You
should consult your lawyer to determine what exactly
that means, as it is likely to be redefined over
time as new cases are decided. It is important,
furthermore, that the parties at the same time redo
their estate planning to insure that their wishes
are properly carried out.
A postnuptial agreement is similar to a prenuptial
agreement, except that it is signed after the
parties are married. While it is thought that they
should be enforceable in Massachusetts, the courts
have not ruled definitively on the issue.
Finally, a joint ownership agreement is often used
for couples living together who are not married.
This is particularly important because the divorce
laws do not apply to unmarried couples and therefore
there are no state guidelines governing what happens
if the couple splits up or one of them dies.
Marital (or non-marital) bliss is to be cherished,
but that does not mean that one can’t both enjoy the
moment and at the same time plan for the future.
