Estate Planning for Unmarried Couples: What Financial Planners Need to Know
by Richard F. Stolz
The number of unmarried couples is growing. The challenge for financial planners is knowing enough to provide guidance on estate planning and related topics … and knowing when to seek outside expertise.

Departments

Online
Starting Thoughts
Voice
Observer
10 Questions: Geoff Davey on Risk Tolerance, Risk Perception, and New Standards for the Future

Columns

Professional Issues
‘How Do I Know You Won’t Steal My Money?’
by Vern C. Hayden, CFP^®
Vern Hayden examines how doing the right thing for clients often has more to do with the planner’s character than it does with laws and regulations. (Hint: it’s all in the wrist.)

Retirement
The Analytical Disconnect
by Jonathan Guyton, CFP^®
Survey results show a surprising number of retired clients went back to work or made other significant lifestyle changes in just the last year. What role did planner recommendations play?

Tax & Estate
Selecting and Maintaining Appropriate Fiduciaries in an Estate Plan
by Randy Gardner, J.D., LL.M., CPA, CFP^®; Leslie Daff, J.D.; and Julie Welch, CPA, CFP^®
Probate courts are rife with litigation involving estate planning fiduciaries. Here’s what planners should know to help preserve family harmony and avoid litigation.

Life Planning
Life Planning … Extending the Conversation
by Lewis J. Walker, CFP^®, CRC^®
Lewis Walker, one of the profession’s most respected practitioners, provides an extensive introduction to life planning in this inaugural column on the subject.

Contributions

Dynamic Asset Allocation: Using Momentum to Enhance Portfolio Risk Management
by Jerry A. Miccolis, CFA, CFP^®, FCAS, and Marina Goodman, CFP^®
Building upon their work published in the January 2012 issue of the Journal, the authors demonstrate how dynamic asset allocation can provide a response when modern portfolio theory’s key assumptions need to change.

Reversing the Conventional Wisdom: Using Home Equity to Supplement Retirement Income
by Barry H. Sacks, J.D., Ph.D., and Stephen R. Sacks, Ph.D.
This paper examines three strategies for using home equity, in the form of a reverse mortgage credit line, to increase the safe maximum initial rate of retirement income withdrawals.

A Utility-Based Approach to Evaluating Investment Strategies
by Joseph A. Tomlinson, FSA, CFP^®
Studies on asset allocation for retirement usually focus on the probability of running out of money. This article broadens the measures to include the magnitude of plan failure and expected bequest amounts.