Tag: Trusts
Advocates of prepaid tuition plans call them “peace of mind programs” and say they still offer that comfort … But some programs have run into trouble after investments lost money in the market downturn in 2008-09 and tuition rose faster than expected. Spring graduations are right around the corner! For all of the 2014 grads, […]
“Beneficiary designations that are inconsistent with your will can wreak havoc on a well-structured estate plan,” said Helen Modly, a wealth manager and Executive Vice President at Focus Wealth Management in Middleburg, Va. What is the top estate planning mistake you can make? Keeping things up-to-date, especially those beneficiaries! An article titled “Don’t make the […]
While my mother never ran a retirement calculator or created a formal retirement plan, she incorporated her individual longevity expectations into her retirement thinking. She enjoyed working past 65 and was also aiming to fortify her finances for what she logically expected would be a long retirement, given her good health and matrilineage. A recent study in […]
The first thing you need to have is a will. Without one, your assets will be divvied up according to the laws in your state. “It isn’t necessarily what you think or want,” warns California-based financial adviser Ted George. Do you really need a will? One word: Yes! If you don’t have a will, then […]
Several experts said that the ways that families handle these situations depends on multiple factors, such as what caused the disparity, how strong the sibling relationships are, whether the parents have money and more. When planning for your estate, you often look at the financial stability of your children. Who is better off financially? Do […]
While dynasty trusts may at first glance seem complex, they are an excellent mechanism to create structure around the family legacy and fortune and potentially avoid the familiar proverb of a wealthy family going from “shirtsleeves to shirtsleeves in three generations.” Ready for a history lesson on using trusts to pass on wealth? Long ago […]
Different plans, tools, and strategies might be needed for people with other life stories. The U.S. has a divorce rate of more than 50%, and many divorcees end up moving on and remarrying. So it is no surprise that there are more blended families today than ever before. This was the subject of a recent […]
There are several charitable giving strategies that help donors generate income from their gifts. Each is appropriate in different situations. Giving to charity is a very satisfying act, with the giver fulfilling the needs of a charity and experiencing the joys of goodwill in the process. What a great feeling! And what’s more, there are […]
Either a will or a trust may be appropriate for your estate depending on your circumstances and neither is best for all situations. Which do you need more, a will or a trust? Or do you need both? Well, the answer really varies by person. Forbes recently considered this question in an article titled “Wills […]
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 […]
