DID YOU INCLUDE YOUR GRANDKIDS IN YOUR WILL? 5 TIPS TO AVOID COMMON PROBLEMS
As we build wealth, we naturally desire to pass that financial stability to our offspring. With the grandkids, especially, we often share a special bond that makes us want to provide well for their future. However, that bond can actually turn into a weakness if proper precautions aren’t set in place.
Read MoreWHY YOUR ESTATE PLANNING PROJECT MUST MORPH INTO A PROCESS
Many people put their estate plan on their to-do list as a one-time project: “Create estate plan” or “Meeting with lawyer 10:30 a.m. Thursday for estate plan.”
Thinking of your estate plan as a single project or task to complete and move off your list is a common approach – but it’s also an approach that can land you in considerable hot water. Here’s why it’s essential to view your estate plan as a process, rather than a project.
Read MoreYOUR ESTATE PLANNING BINDER: TIPS FOR PROPER CARE AND MAINTENANCE
YOUR ESTATE PLANNING BINDER: TIPS FOR PROPER CARE AND MAINTENANCE You finally crossed “getting your estate plan done” off your list, and you’ve (rightly) breathed a huge sigh of relief. By tackling this challenge, you’ve not only established protections for your loved ones and legacy, but you’ve also freed up some important “mental space” that…
Read MoreIS A FINANCIAL PLAN ENOUGH? WHY EXPERTS SAY YOU NEED AN ESTATE PLAN, TOO
IS A FINANCIAL PLAN ENOUGH? WHY EXPERTS SAY YOU NEED AN ESTATE PLAN, TOO If you want to leave a robust financial legacy for your family, a financial plan alone is like trying to guide a boat with just one oar. It’s only part of the big picture for your overall monetary health. A well-informed…
Read MoreTHE PROS AND CONS OF PROBATE
THE PROS AND CONS OF PROBATE In estate planning circles, the word “probate” often comes with a starkly negative connotation. Indeed, for many people – especially those with larger estates – financial planners recommend trying to keep property out of probate whenever possible. That being said, the probate system was ultimately established to protect the…
Read MoreWHY A TRUST IS THE BEST OPTION FOR AVOIDING PROBATE
WHY A TRUST IS THE BEST OPTION FOR AVOIDING PROBATE As Ambrose Bierce once darkly observed, “Death is not the end. There remains the litigation over the estate.” Obviously, ideally, when someone passes away, the paperwork and material concerns associated with the estate are so flawlessly handled (thanks to excellent preparation) that they fade into…
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What To Do After a Loved One Dies
What To Do After a Loved One Dies If you’ve been appointed an executor of a loved one’s estate, or a successor trustee, and that person dies, your grief – not to mention your to-do list, including tasks ranging from planning the funeral, coordinating relatives coming in from out of town and (eventually) meeting with…
Read MoreWANT TO GIVE THE KIDS AN EARLY INHERITANCE? 4 THINGS TO CONSIDER
WANT TO GIVE THE KIDS AN EARLY INHERITANCE? 4 THINGS TO CONSIDER If you’re thinking about giving your children their inheritance early, you’re not alone. A recent Merrill Lynch study suggests that these days, nearly two-thirds of people over the age of 50 would rather pass their assets to the children early than make them…
Read MoreOCTOBER, 2016 NEWSLETTER- ACT NOW TO SAVE LATER
OCTOBER, 2016 NEWSLETTER- ACT NOW TO SAVE LATER 10 Year-End Tax Planning Strategies to Discuss with Your Financial and Tax Advisor Before the Holidays As summer draws to a close, tax time seems like a world away for most of us. We’re preoccupied with squeezing in that last vacation and/or getting the kids ready to…
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