Michael J Porro & Company

Financial Advisors, LLC

180 Old Tappan Road, Old Tappan, NJ 07675-7052

Phone: 201-768-0218

Fax: 201-768-6487

Website: porrofinancialadvisors.com

May/June 2018

Passing it On

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During the next two to three decades, baby boomers will pass potentially trillions of dollars on to their children
and grandchildren. What would you do with a large inheritance?

Take it Slow

Even if you have dreams of fancy cars and large homes, slow it down and consider how to handle your inheritance so that it can do the most good. First, find an estate planning attorney and financial professional whom you can trust to help guide your fortunes. Make sure you draw up a will and any other required documents before deciding on a spending plan.
Future Care

Next, make sure you have an appropriate amount of life insurance to protect your new wealth. Consider putting the maximum amount of money away in tax-qualified plans for your retirement. Invest your money wisely, paying attention to future taxes.
Pass It On

While you will likely want to ensure future generations can benefit from your windfall, you may also want to leave a legacy to a favorite cause. There are various strategies that can help you help others (see Leaving a Legacy article).


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Michael J Porro & Company and LTM Client Marketing, Inc. are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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