Category: Heir
“Movie scenes where a deceased tycoon’s will is read to a roomful of shocked and bitter relatives make for great drama, but drama is the last thing anyone wants, when seeking to preserve an estate for future generations.” Using an irrevocable trust ensures a far smoother transition of assets than a will, and also offers […]
No will or trust? The estate is most likely going to probate court. Transfer on death accounts can avoid some assets from going through probate. However, it is important to know that the laws governing TODs vary from state to state, according to Yahoo! Finance in “Transfer on Death (TOD) Accounts for Estate Planning“. Here’s […]
You really should plan for the future, even if it means taking your own death into consideration. People do not generally like to consider their own passing so they often avoid estate planning. However, it really can be considered as a message to the future, as well as thoughtful consideration of your family, according to […]
Life happens and so does death, so it is best to be prepared. It doesn’t matter how much money you have. You always need an estate plan, whether married or single, in order to be sure those left behind are cared for and that your assets are distributed as you wish, according to the South […]
It is a good idea to have a plan, just in case you do retire. Many business owners have worked for years to build up their business and don’t have any intention of retiring. However, that day is likely to come and it would be wise to have a succession plan, according to The Gardner […]
Shortcutting the process can save money now. However, it will be costly later and cause problems for heirs. Trying to work around estate planning with limited knowledge can often create more problems than it solves, according to My San Antonio in the article “Estate planning workaround idea needs work“. The article concerns a rancher who […]
Why is the revocable trust so appealing? You can change it whenever you’d like. You do not have to have a lot of money or assets in order to benefit from the use of trusts, according to Barron’s in “Why a Trust is a Great Estate Planning Tool – Even if You’re Not Rich“. Many […]
What might happen if you have the talent for success but not the talent for business? As can often be the case, many extremely talented people accumulate large estates and they often are not prepared to take on the task of organizing the transfer of assets, according to the Reno Gazette Journal in “Yes, even […]
Celebrities including Marlon Brando, Prince and Florence Griffith-Joyner should have had up-to-date estate plans. It is not just celebrities who make big mistakes when it comes to failing to keep an estate plan up to date, according to Kiplinger in “6 Estate-Planning Mistakes Celebrities Made“. It could happen to anybody, including your family, if you […]
Several of George Michael’s godchildren are expected to receive large inheritances. The estate of George Michael, who passed away on Christmas Day, is beginning to come to light, according to the Daily Mail in “George Michael’s £100M fortune ‘will go to his Godchildren’: Offspring of his celebrity friends could inherit tens of millions EACH after […]
