Eventually, someone else will have to manage your portfolio. Will this hand-tuned marvel you’ve spent a lifetime constructing collapse under a spouse or child’s oversight? Now might be a good time to design a plan for your portfolio for the day when you are no longer available to call the shots.
Earlier this month I celebrated my 50th birthday. My kid’s think I am “really old.” Then again, they say that about people in their 30’s. Being closer to the grave than the cradle, I sometimes think about how my wife and/or children will manage their portfolios after I am gone, and it isn’t a pleasant thought.