Scared of selling? When holding on to stocks can hurt you financially + MORE Oct 8th

–Aggie

Do you need a planner, lawyer or accountant for leaving property in a will?

Thanks for your question, Aggie. There are a lot of things do know when planning an estate, especially with real estate. As an estate administrator, I often get questions, like, “Should my estate planner be aware of current tax laws?” That’s an important one, especially when transferring the title of a secondary property to a family member. It highlights the complexity of estate planning. Whether you’re transferring a lakeside cottage to your daughter or handing over the keys to a cozy downtown condo to a niece, understanding the tax implications is critical.

The short answer: Yes, estate planners should absolutely be well-versed in tax laws as they relate to your estate. But there are nuances to this, and sometimes calling in more professionals is the best move…

Holding until a stock recovers

Investors sometimes want to break even on a trade. This may cause them to hold a stock longer than they should, as they wait to get back to a profit position.

The stock market generally rises over time, especially over the medium and long term. But year to year, stocks can be way up, way down or even flat. And despite the market’s performance, you can have an individual stock that does incredibly well or really tanks.

As a rule, I think it’s a bad idea to hold a stock with the goal for it to recover. It may never return to its previous highs, and holding can prevent you from selling and reinvesting the proceeds into something that may perform better in the future.

My take: If someone has money invested in a stock, they should always consider what they would do if they had an equivalent amount in cash…