Tag Archives: Best financial advisors under 40

Do you have a Dusty Trust?

What’s a dusty trust, you may ask, or a dusty will? They are trusts and wills that are so old that you have to blow the dust off. It’s a term made up by David Richmond of Eaton Vance.

Many actually THINK they are speaking the truth. For them, the definition of estate planning is the will and trusts they set up at age 35 when their youngest kid was still in diapers. Doesn’t matter that they are now in their late 60s and have accumulated millions since those early hopeful days, including all sorts of treasures, especially the most precious ones … grandchildren

But it also applies to trusts and wills that are not very old. The estate tax laws have been changing almost every year for the last decade. That means that terms like “estate tax exemption” now have very different meanings than they did 10 years ago. It’s possible that you could accidentally disinherit your spouse unless you update your estate planning documents.

Beneficiary designations should also be reviewed regularly. I spoke with someone recently whose wife passed away earlier this year. He was forgetful, and his investment account still had his wife’s name on it. She was the beneficiary of his IRA as well as his life insurance policy. Her name was still on the deed to their home.

The role of a good Registered Investment Advisor (RIA) like Korving & Company is to review your estate plans and beneficiary designations, advising you about changes that you need to be aware of. Whether its changes in the tax laws or changes in your personal life, keeping you updated will keep your heirs from inheriting a tangled mess.

For more information, get a copy of our estate planning guide: Before I Go.

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Why Stephen Korving Is One of the Best Financial Advisors Under 40


Stephen Korving was recently nominated as one of the country’s best Financial Advisors Under 40. Here’s a little background on Stephen.

After earning a degree in Finance from Virginia Tech, Stephen joined the prestigious institutional investment advisory firm Cambridge Associates. While there he was asked to join a new group designed to analyze hedge funds for institutional investors and ultra high net worth families.

His father persuaded him to join him at UBS, a major global investment firm headquartered in Switzerland. The goal: to provide regular investors the same level of expertise and care that institutional investors and the very wealthy were getting.  The crash of 2008 showed the risks that the major global investment firms were taking, so Stephen and his team began searching for a better way to serve their clients.  That led to the establishment of Korving & Company, an RIA firm, in 2010 with Stephen as President.

Stephen is a Certified Financial Planner™ Practitioner and a member of the Financial Planning Association.

He is active in a number of civic and charitable organizations, currently serving on the Board of the Portsmouth Museums Foundation and as a community adviser to PARC (Portsmouth Area Resources Coalition).

Part of our firm’s mandate is to help people at all levels of wealth.  When Stephen is not managing the portfolios of his clients, many of whom are widows, he is helping people who are in financial difficulty by showing them how to budget and use their income wisely.

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