Financial Planning and Advice Blog for Syracuse

Want to keep up with the latest news in the financial sector? HighPoint Advisors in East Syracuse, NY makes sure all our clients have the latest up to date financial information to better plan for their future. Feel free to browse the blog below to learn more about the current financial market.
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Death and Finances: Tips for Taking on the Finances of the Dearly Departed

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By highpointadvisors February 15, 2018

Budgeting- HighPoint Advisors

The death of a loved one is a stressful, emotional situation that leaves few of us prepared for the practical matters raised by such a loss. However, being aware of the appropriate steps required to address the finances of the deceased can make a difficult time easier to manage. Read on to learn more about the actions that should be taken after a loved one passes on and how professional guidance can ease the process.

1. Contact a professional.

It might seem hasty to contact a financial advisor immediately, but you’ll soon discover that taking care of your loved one’s finances is a complex process. Getting in touch with a professional can help you ensure that everything’s in order from the very beginning.

2. Collect all necessary paperwork.

The next step is to gather the paperwork that you’ll need to handle the estate of the deceased. Unfortunately, the list of necessary documents is extensive, which is where your financial advisor will come into play. They’ll help ensure that all requirements are met, from ordering copies of the death certificate to securing letters testamentary identifying you as the executor.

3. Notify the applicable agencies and institutions.

Once you’ve gathered the paperwork, you’ll have to notify the Social Security Administration and other businesses and agencies about the passing. This will include financial institutions, such as banks and credit card companies, as well as utility providers and many more. Because many accounts may be in question, you’ll likely want to turn to a professional to make certain nothing remains unresolved.

4. Close existing accounts.

After the notification process, make sure to close your loved one’s bank accounts and cancel any service subscriptions to ensure that funds aren’t still being withdrawn for things that are no longer necessary. Keep in mind that the estate will also be responsible for any unpaid property and income taxes, and that a form 1041, an estate income tax return, may be required.

5. Apply for benefits.

Finally, upon the death of a loved one, you may be entitled to certain financial benefits. This will depend on several variable factors, including whether or not the loved one was your spouse, their military status and more.

Seek Professional Guidance

Death and finances go hand and hand, often resulting in a situation that’s hard to deal with alone. Fortunately, HighPoint Advisors’ caring team can streamline the process and guide you through each and every step. Contact us today to discuss your specific situation.


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Top Trends in Women’s Investments

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By highpointadvisors January 16, 2018

Whether you're a young professional, married mother, grandmother, or single mom, where you choose to invest your money will have a big impact on your future. The good news is that women on average are much better at investing than their male counterparts. That's why you should take advantage of the trends women are pursuing if you want a greater chance of reaching your financial goals. Here are four investing trends you should pay attention to in the coming years as a woman who invests:

Gender DiversityWoman with stock reports

Gender equality in the world's largest corporations has been pretty dismal since the start of capitalism, but things are changing. Investing in companies that pay women equally and hire women for top executive decisions isn't just a social goal; it can actually help you work towards your financial goals. According to research from Quantopian, women-led companies performed three times better than the S&P 500.

Social and Environmental Conscience

Women investors, on average, tend to care more about matching their investments with their personal values, so they put more focus on investing in companies who care about social and environmental wellbeing. As more and more women enter the stock market, companies who care may have more of an advantage. This is often referred to as impact investing. Women are doing their best to let companies know that the negative externalities they produce may affect their stock prices.

Healthy and Organic Foods

Food companies can't continue to only pump out fatty and sugary products if they want future market success. Women who are responsible for taking care of families are especially sensitive to this issue. Join other investors who are telling major food companies that they will only put money into corporations that encourage healthy eating and sell organic products.

Fixed-Income Investments

Many women are often more risk averse when it comes to investing, which means that a continuing trend for women investors may be in fixed-income investments. These include municipal bonds, T-bills, and other instruments that provide more stable returns. Even if you're not near retirement, reserving a chunk of your money for these kinds of investments may provide you with more financial confidence. At Highpoint Advisors, we connect women with investments that match their social and economic values. We're ready to help you manage a wide range of financial goals. Please contact us today for more information and financial advice about where to invest your money. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. Because of their narrow focus, sector investing will be subject to greater volatility than investing more broadly across many sectors and companies. Bonds are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and bonds are subject to availability and change in price. Investing involves risk including loss of principal. No strategy can ensure success or protect against loss. The fund’s concentrated holdings will subject it to greater volatility than a fund that invests more broadly....

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