Less Pain at the Pump Equals More Money in Your Pocket

The major drop in oil prices started to create turmoil at the end of last year. Looking forward, this will continue to impact the global economy. While we see the 50% drop in the price of oil as positive, it could be a cause for rough markets as the impact is priced into the market. In reaction, we have shifted portfolios away from oil related stocks in favor of stocks that will benefit with the lower price of oil (airlines, consumer goods). We will keep our eyes on developments and continue to adjust as necessary.

As we welcome the new year, it is a good time to review and update your personal documents. These documents include your will, life insurance policies, and living wills. While we do not practice law, we recommend that you talk to your personal attorney regarding these documents. If you do not have a personal attorney and need a referral, please ask.

Everyone should have a will. Even if you have a living trust, you should still have a will in place to handle any property that is not in your trust at the time of your death. Things that you should do are:
– Make sure that you know the location of your will.
– Tell the executor of your estate where it is.
– Review your will to ensure that it is current.

Review your life insurance policies and annuities. You should:
– Determine that your beneficiaries are current.
– Make sure the executor of your estate knows about these policies.

Do you have a living will? These documents are sometimes called advanced directives. The purpose of a living will is to give medical direction to your family and physician in the case that you are incapable of making decisions on your own. The decision of how much or how little care you wish to receive in the event of hospitalization is a very personal thing. Your doctor can help you complete forms available online to spell out your directives.

If you have a Medicare Prescription Drug Benefit (also known as Medicare Part D), review your plan with your provider. Law changes went into effect January 1st that may affect the cost of your plan.

As always, we are here to help if you have any questions.

Very truly yours,

Michael F. Cantlon

Thomas E. Guyett

Robert T. Gephart