We all can use a friend, but Who Needs a Trustee?

What is a trustee? A trustee is a person or a company that holds and manages assets for a third party. Often that includes someone managing a trust for a beneficiary. Trustees are fiduciaries, meaning that they have a duty to manage the trust in a responsible manner and in the best interest of the beneficiaries within the framework established by the trust document. Who can be a trustee? You can name anyone you’d like to be a trustee. That person will not only have significant responsibility over the trust assets, he or she will also be in regular contact […]

What Could Rising Rates Mean to You?

So far this year, ten-year Treasury yields have risen from about 2.5% to 3%. While that might not seem like much, it is a 20% increase from the start of the year. If rates continue to climb, the impact could extend into many areas of your financial picture. Mortgages – If you’re looking to get a new mortgage through a refinance or to use for a new home purchase, you’ll likely find that rates have been going up along with the ten-year Treasury. A ½% increase in interest rates could cost you an extra $26,000 in interest payments over the […]