Resources

Newsletters

Partnership Wealth Management Logo

partnership wealth management newsletter - talking to your heirs about money

 

One issue for people as they age is communicating with their heirs about the inheritance they could receive. Some people are uncomfortable talking to their heirs about money while others are concerned that their heirs could become lazy while they wait on a windfall. Talking with your children early about money in general and later about the money they might inherit can help your heirs become more responsible with the money they’ll receive.

Here are some resources to get you started:

This article from Kiplinger does a good job of outlining the importance of these conversations and some steps to consider taking.

While this NY Times article walks though these discussions with the ultra-wealthy, there are concepts included that work for people of any net worth.

AARP has some great resources on finances, health, and wellness. You can start with this piece on inheritance etiquette and follow the links within for additional information regarding estate planning and inheritance.

Although heirs are commonly children, many of these recommendations also apply to other heirs such as siblings, nieces/nephews, and friends. It doesn’t hurt to have conversions about money to help give your heirs prospective and to help give them the tools to increase the chances their inheritance will last.

Contact us if you have any additional questions or if you’d like to walk through the best ways to have these conversations with your heirs.

The opinions voiced in this material are for informational purposes only and are not intended to provide specific advice to any individual. Consult your legal, tax, and/or financial advisor to determine what is appropriate for your situation.


PWM

partnership wealth management company for gay couples

Events & Sponsorships

Paws for a Cause

Thursday, September 6th from 5-8pm

The Thirteenth Annual Paws for a Cause Charity Night & Silent Auction will benefit Animal Safe Haven & Adoptions, Show Your Soft Side, and Furry Friends Network.

This year’s event will feature guest bartenders, brewery tours, animals brought by the charities, a silent auction, raffles, games, BMore Greek food truck, and more!

You can follow Paws on Facebook at Paws’ Facebook Page for regular updates.


Away from the Office

We’re here all month!

We are always accepting donations for the local animal shelters – toys, tennis balls, collars, leashes, food, cat litter, cardboard trays, office supplies, cleaning supplies, towels, mats, washcloths, etc. We will accept donations Monday-Friday between 9am & 5pm.

Family

Partnership Wealth Management company for gay couples

July was another busy month for the Derricks family. We took a whirlwind trip through New England where Elise was able to visit one grandparent, seven cousins, and eleven aunts/uncles during our five-state tour. Even with all of that running around, Elise always makes time when in Boston to feed the ducks.

Partnership Wealth Management family

I hope you enjoyed this month’s newsletter.

 

Best Wishes,

Woody Derricks, CFP®, ADPA®

President

CA Insurance License #0C40217


As a Registered Investment Advisor (RIA), Partnership Wealth Management is committed to providing our clients with financial planning and wealth management services to help them work towards their financial goals. At Partnership Wealth Management, we have a long history of working with the LGBT community. Among the many services we offer are financial planning and estate planning strategies for gay and lesbian couples. Financial planning is an important part of preparing for the future; contact us today to get started.