About Mark Rioboli

Mark A. Rioboli, CFP®, CFS is Director of Wealth Management for Independence Advisors, bringing over 25 years of experience in the wealth management industry. Have a question for Mark? CLICK HERE TO ASK MARK

Author Archive | Mark Rioboli

Is My Will Enough?

This isn’t a post about willpower and accomplishing one’s goals. It’s about the essential estate planning document known as a will. Everyone should have these three key estate planning documents:

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Choosing an IRA Beneficiary? Choose Wisely…

Your choice of beneficiary(s) for your IRA can have major tax consequences. Choose wisely with your advisor’s counsel. Leaving your IRA to an individual is a simple and flexible solution. Leaving your IRA to a trust is more complex and requires the advice of an experienced estate attorney.

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What Happens to My IRA When I Die?

Most people’s wills do not specify or control what happens to their IRAs. That’s because an IRA has its own distribution schedule that operates independently of a person’s will. IRAs have beneficiary designations that are created when the IRA is opened. These beneficiary designations should be reviewed on a regular basis and can be changed with written notice at any time prior to one’s death. Most people name their spouse as their primary beneficiary and then their children as contingent beneficiaries, with the children splitting their shares equally.

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Key Estate Planning Documents

Estate planning is a vital component of every financial plan, regardless of the size of the estate. Unfortunately, it’s also an area that is commonly overlooked. This often results in wasted dollars and emotional hardship that could otherwise be minimized with proper advance planning and action.

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Preventing Financial Elder Abuse – Part II

Advisors and family members can team up on a loved one’s behalf In Part I, we looked at the sources and warning signs of elder financial abuse.  In this installment, we will talk about how to work with the elderly once they have become victims and how to prevent elder financial abuse. Don’t shame elders […]

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Preventing Financial Elder Abuse – Part I

Advisors and family members can team up on a loved one’s behalf. Key Takeaways The vast majority of financial elder abuse is perpetrated by family members and caregivers—not by strangers and professional crooks. Only a tiny fraction of elder abuse is actually reported. Look for the warning signs of financial elder abuse. As many of […]

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My Son’s Surprise 18th Birthday Present: Not What He Expected, But It Will Keep On Giving

Key Takeaways Once your child turns 18, the law prevents you from making certain important financial decisions on his or her behalf. Purchase basic estate documents for your child: will, durable POA, healthcare POA. Help your child select a credit card (with reasonable limits and rates) to establish a credit history. I wrote this blog […]

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