Category: Inheritance
Inheriting in trust can mean a lot of different things, but usually comes with benefits that are not available otherwise. Consider establishing an estate plan so your beneficiaries can inherit in trust. You may know you want to give an inheritance to your heirs, but do you know the right way to do it? Let’s […]
The biggest mistake people make when they inherit a chunk of money is not thinking it through, said Meg Green, a certified financial planner and CEO of Meg Green and Associates in Miami. “People who don’t have means often squander the money on things they have been dying to have all these years, and then […]
One of the perennial issues high-net worth families worry about is how they can pass their wealth to the next generation without spoiling their kids or destroying their drive or ambition. If you are afraid your heirs may become spoiled by their inheritances, your fear is justified. Many people are apprehensive when deciding how to […]
Discussing your estate plans with your adult children may be the single best defense against leaving a legacy of family strife and division. A recent New York Times article, titled “What’s Almost as Certain as Death? Not Talking About the Inheritance,” details a new report revealing that the majority of Americans do not discuss their […]
While the contemplation of your eventual demise is never at the top of anyone’s list, there is satisfaction from the feeling that you have taken care of issues and provided for those you love. But unwitting mistakes can wreck your careful planning and even lead to family fighting and estrangement of the very people you […]
Recently rock legend Sting made headlines when he declared that his six children would be receiving little to none of his estimated $300 million fortune. Financial Planner Kevin McKinley argues that there are ways to give your children money without you having to worry about them becoming trust-fund brats. Sting’s motive for not leaving an […]
The public battle — always emotional and sometimes bizarre — began in October 2013 when daughters Julie and Kerri led a protest outside of Kasem’s Los Angeles mansion, holding signs demanding that their stepmom let them see their ailing father. With celebrity life comes a lot of media attention, and with that attention comes the […]
Since for most of us, our children are our foremost priority in life, a Letter of Intent can be a crucial document. And anyone who wants to ensure special care for their children should consider including one with their estate documents; there are no real drawbacks to writing one. For parents, their children are the […]
A general rule is that Roth IRAs are good accounts to leave to loved ones. Distributions typically are tax-free, and if your heirs follow the rules, they can stretch distributions from a Roth over their lifetimes, allowing the bulk of the investment to continue growing tax-free. “The Roth IRA is pretty much the Cadillac of […]
In this case, Ms. Aldrich created her Will using an “E-Z Legal Form”. In her Will, she specifically identified certain property to give to her sister and, if her sister didn’t survive her, to her brother. At the time she executed her Will, these specific gifts covered all of her property. However, the E-Z Legal […]
