Category: Guardianship

The expressions change from country to country, but the sentiment remains the same: passing family wealth from the first generation to the second generation is difficult, and extending it to the third generation is nearly impossible. Described as “clogs to clogs in three generations” by the British, “from shirtsleeves to shirtsleeves” from the Americans, and […]

The expressions change from country to country, but the sentiment remains the same: passing family wealth from the first generation to the second generation is difficult, and extending it to the third generation is nearly impossible. Described as “clogs to clogs in three generations” by the British, “from shirtsleeves to shirtsleeves” from the Americans, and […]

Couples who are expecting their first child are busy with decorating the nursery and taking childbirth classes. In addition to planning for their financial future, estate planning should be a high priority to-do item. They need to purchase life insurance, set up a college fund, and answer one of the most unpleasant questions of all: […]

Estate planning may sound like something that only fabulously wealthy people need to do, but nothing could be further from the truth. If you are an adult, you need an estate plan. If you have children, you really need an estate plan. And if you own something that you would like to give to someone […]

Death is truly our final frontier. Most of us like to imagine a story-book ending: lying in our bed at home, surrounded by those we love, with a skilled hospice worker tactfully hovering in the background. Sadly, 70 percent of Americans die in a hospital, nursing home or long term care facility. Why don’t we […]

Naming the right person as the executor of your estate is one of the hardest and most important decisions. Knowing what to do if you’ve been named an executor can feel overwhelming. Being named an executor is an honor – it means that someone trusted your judgment and your ability to handle complex tasks on […]

Consider your will as one last chance to let your heirs know how much you love them – because you thought enough of them to plan for your eventual demise. Any adult with minor children or assets of any kind needs to have an estate plan. And if you have complicated life – second or […]

The details are still unknown, but family limited partnerships and family limited liability companies are being scrutinized by the IRS and the US Treasury and changes are coming. The IRS is looking to close a loophole that has worked very well for many years for wealthy families. The IRS is about to get tough on […]

Trusts are widely used by estate planning attorneys, with good reason. Trusts are a good way to pass wealth from one generation to the next, protecting assets from the effects of estate taxes, divorce, creditors and scam artists. But trusts are not the only way to transfer wealth. There are times when a simple outright […]

It’s so easy to put off estate planning, when lives are busy and there are more inviting things to think about than death and taxes. Perhaps the most common mistake is thinking that estate planning is a do-it-yourself project. Only if you want your loved ones to inherit a mess! The biggest problem that results […]