Greetings!
"Act like a parent, talk like a peer. I call it "peerenting." I learned it from my own dad who used to walk into my room and say, "What's up, sweat-hog?" --Phil, on Modern Family
We all live in an episode of Modern Family, to one extent or another. Hopefully, your episode is just as funny and not nearly as rough. Quotes like this are great at least a little bit because we know it's true: if we're not taking it too easy on our kids, we all know another parent who is trying to be the "cool dad."
And, for financial advisors like us, Modern Family is a great example of how, in today's world, it's not as easy as you might think to make your money go where you want it to go, or do what you want it to do.
Make sure to ask your advisor for a beneficiary audit.
As a free service to you and your friends and family, our advisors are happy to look at your accounts, your Will and Trusts to make sure that you understand what your current documents say and that you are happy with where the money goes after you leave.
We all should take a look at our beneficiaries. Recently, a friend of ours had hard feelings when not one, but both parents remarried and she was disinherited. On the other extreme, I know I personally have looked at cases where the children married, remarried, had kids from one or more spouses, and the Will said nothing more specific than "the money passes to my heirs."
If you do not choose, a judge for the State of Colorado will choose for you.
Take advantage of this advice; avoid hurt feelings later. No "peerenting" allowed.
