Category: Estate Planning
Plan to review your beneficiary designations on a regular schedule, ideally as part of an annual review of your finances. Life can get hectic, so it’s best to have a plan when it comes to annual to-do’s or check-ups. Otherwise, some very important things may fall through the cracks. Did you change the batteries in […]
Recently, Paul Walker’s father filed to open the estate, including Walker’s Last Will and Testament. It sheds some interesting information about the Paul Walker Estate and highlights some valuable estate planning lessons. When it comes to celebrity estates, there are many lessons we can all learn about planning. And although the media tends to highlight […]
Take advantage of these tips to grow your retirement nest egg this year. Are you saving for retirement? Whether you are or not, it’s never too late to start! But the earlier the better. A recent article in US News and World Report titled “5 Steps to Save More for Retirement” offers solid tips on […]
While battles over image and likeness rights are reserved for the rich and famous, the others are common battle-grounds for dysfunctional families, especially in second-marriage situations. Many people mistakenly believe that only the wealthy end up fighting. Sadly, it’s far more common than most people realize — even for families of very modest wealth. Is […]
When you really think of it, who is better equipped to serve your interests under such dire circumstances than you yourself? Estate planning is not meant to be something done solely in the last chapter of life. Think of it as a plan for all the chapters of your life—a plan that you should start […]
Children almost always interpret unequal inheritances as an expression of unequal love, Witt told her clients, and giving one child more than another may make them feel slighted and angry. When planning to pa ss on your estate, you may feel like all will be fine as long as everyone gets a piece of the […]
Family businesses account for much of this country’s domestic product and are core to the American Dream. Whether it is a century-old international automobile manufacturer or a group of local dry-cleaners, family involvement in the business is a common goal. Like anything worth keeping, it takes work to preserve. A business is not merely a […]
At the recent annual Heckerling Institute (the leading conference for estate pros) Paul S. Lee, a Bernstein wealth manager, called for a new approach to planning he puckishly described as “freebasing”–because it frees survivors to get the most potent income tax savings from the step-up in basis of the deceased’s property. The estate tax is […]
They are relatively older, they are probably inheriting from financially conservative parents and they are dealing with deep emotional reactions. Leaving behind or receiving an inheritance includes several planning points to ponder, including tax questions and legal questions. In addition to all the details, one must not forget the emotional aspects as well. Indeed, the […]
As for the last conspiracy theory – elite families passing their wealth from generation to generation – evidence suggests that it is the exception rather than the rule. If you were able to create some wealth through the family business, how do you keep it going in future generations? It seems as though very few […]
