Category: Estate Planning
Of course, in most families, the split is an equal one, giving adult siblings no reason to quibble over the disposition of cash and other assets. Yet some parents decide to single out one or more children for a bigger, smaller or differently structured inheritance. Even if the reasoning is valid — perhaps one child […]
Over the years, we’ve seen estate plans fail to do what they were intended to do. For your estate plan to remain a valuable asset for you and your heirs, you would be wise to avoid these eight common mistakes. Decide to get my estate in order, check. Get my estate plan prepared, check. Am […]
A 2012 study of 3,200 wealthy families by U.S. Trust showed that 70 percent failed to successfully transfer the family’s assets to the succeeding generation. The study found three reasons for this failure: lack of communication among family members; absence of a generally acknowledged purpose for family possessions; and lack of preparation on the part […]
Waiting to create an estate plan could result in significant out-of-pocket costs at the end of life. Or even worse, it could result in a person with Alzheimer’s disease being subject to the will of the courts. With the number of individuals suffering from Alzheimer’s skyrocketing, there is no time to wait to get your […]
The remains of Jim Thorpe can remain in Jim Thorpe, Pa. That was the ruling handed down on Thursday by a federal appeals court in Philadelphia in an unusual case involving a dispute between the family of the legendary Native American athlete and a small Pennsylvania town named after him. Do people really fight over burial places? Sadly, the […]
Gresham advocates laying the groundwork for the estate-planning talk with a few separately held, lead-up discussions on family values and history. After all, she said, “You want to build a sense of bonding and family before you introduce material that could be emotionally loaded.” When is the right time to discuss your estate plans with […]
There is no one right way to be a caregiver; everyone’s situation is different. You will find that, among a host of things, family dynamics, financial resources and the ability of your parent(s) to provide guidance for the support that they desire will shape your situation. If you’ve been tasked to set up care for […]
Are you childfree? Are you planning with an elder parent? Do any of your potential beneficiaries have special needs that must be taken into consideration? Are any of your beneficiaries minors? The first step of planning is to take a moment to consider what makes your situation unique. Although estate planning has many aspects, it’s good to start with the […]
With a little research, a family should be able to find a suitable home for their estate and leave a lasting legacy — whether they are rich, Bill-Gates-rich, or not wealthy at all. Leaving an ongoing charitable legacy is not just for the wealthy. You do not need to be Bill and Melinda Gates with […]
Many people tend to overlook books as potential assets. And even if you bring a rare book to a general antiques dealer or estate appraiser, they often are not qualified to give specialized book appraisals. This can be a mistake: The simple fact is, books can be worth money. So, you inherited a book. Now […]
