We often talk about life events that trigger financial decisions. However, many of these same events are reasons to update your Will.
The much touted Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 has a silver lining that extends the bankruptcy protections enjoyed by employment-sponsored retirement plans, which are covered by the Employment Retirement Income Security Act (ERISA). Congress designed the law to curb perceived abuses by debtors in bankruptcy.
If you are seeking to develop a long-term relationship with a financial adviser, we suggest you understand the motivation behind the advice you are given.