Passing real estate to your heirs can be a crucial part of your family legacy, whether that real estate be a primary residence, generational vacation property, or income property.

Passing real estate to the next generation is not as straightforward as leaving it to a surviving spouse who has joint ownership. There are many issues that must be considered.

In life, we often face unexpected challenges that can greatly impact our financial stability. Among these challenges, three significant events stand out: divorce, disability, and death. It is crucial to manage our finances in relation to these situations so that we are equipped to navigate through them with minimal disruption. How would you want your finances handled if you died, were going through a divorce, or were stricken with a disability?

By taking proactive steps and implementing effective strategies, you can safeguard your financial well-being and provide peace of mind for yourself and your loved ones. In this article, we will explore key considerations and practical steps you can take to manage or prepare your finances for the 3 D’s: divorce, disability, and death.

For many, financial stability may seem elusive. You have bills to pay, your debt may be increasing, saving for the future is a struggle and planning your retirement remains an item on your to-do list. However, with commitment to a long-term financial plan, a stable financial future is attainable no matter your level of wealth.

The necessary components of a financial plan that will lead you to a stable financial future are explained below.

Does your portfolio include short-term investments? Short-term investments are an important component of a well-balanced investment portfolio. While they typically provide a lower level of return than long-term investments, they also provide a lower level of risk.

You can also use short-term investments if liquidity and immediate access to cash are more important to you than higher investment returns.

You probably dream of a life where your choices are unencumbered by financial concerns. A life where you can do what you want, within your predetermined means without materially affecting your future standard of living and income. A life in which you are financially independent.