KeatsConnelly Cross-Border Weekly Best of the Web 2013-8-23

web-search-greyEvery week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets. This week we offer a mix of articles discussing diversification, estate planning, and the DOMA ruling.

Diversification Isn’t Broken, It Just Takes a While  (www.nytimes.com)  It’s a classic moment in sports history. With less than 20 seconds left in Game 6 of the 1998 N.B.A. finals and the Chicago Bulls down by one, Michael Jordan goes one-on-one with Bryon Russell of the Utah Jazz. He pushes off (clearly!), Russell stumbles and the ball hits nothing but net. Game over. Bulls win.Now let’s imagine that something different happened. Jordan misses the shot in Game 6, and Game 7 comes down to the same spot: fewer than 20 seconds left with the Bulls down by one. If you’re Phil Jackson, the head coach, do you set up the last play for Jordan, or does the ball go to someone else? Remember, Jordan missed the night before…

When there’s no will  (www.advisor.ca) A few years ago, Vancouver advisor Andrew Hoffman, a vice-president at Leith Wheeler Investment Counsel, had a client facing an unpleasant family problem.The client had one living parent who was experiencing severe mental deterioration—so much so that B.C.’s public guardian had been brought in to oversee affairs because there was no power of attorney.Eventually, the parent died, leaving no will. Under B.C. law, a court oversees the division of such estates according to a pre-set formula, which may not have been what the deceased parent wanted for the children—in this case, Hoffman’s client and a sibling…

DOMA ruling’s overlooked benefit: Immigration rights (www.money.cnn.com) Many same-sex couples have been stranded in different countries by the federal Defense of Marriage Act. With the demise of DOMA, that is changing fast.Just ask Judy Rickard of California and British citizen Karin Bogliolo.They’ve been together for nearly 10 years and got legally married in the United States two years ago. But DOMA, which defined marriage as between a man and a woman, prevented Bogliolo from getting U.S. citizenship.So Rickard, who is 65, and Bogliolo, 73, have been bouncing back and forth between California and the U.K. “Yo-yo people” and “love exiles” are how they describe their predicament.

 Come back next week for more interesting news and articles. Enjoy your weekend!

 

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