Category: Inheritance
“For example, did you name someone as an heir who is no longer in favor with you or—worse yet—has died? Who should get what they would have gotten? Are there now new people in your life—be they family members or not—whom you might wish to share in what you may have?” An estate plan isn’t […]
“So, you’ve decided that a family member won’t be getting an inheritance, after all. Maybe you have an ungrateful or irresponsible family member you want to cut out of the will.” If there’s someone you believe is more deserving or needs more of your help, that may mean someone else in your life may receive […]
“By discussing finances with your children early and often, you can set them—and future generations—up for success, when it’s time to receive the wealth you’ve accrued.” Almost three quarters of the wealthiest people in the world—those whose net worth is higher than $30 million—are self-made, according to a Wealth-X report. Look closer into the world’s […]
“When the Spanish painter Pablo Picasso died of a heart attack on April 8, 1973, he left behind not only a huge artistic oeuvre of 50,000 works, but enough family drama to cover several generations.” The great artist was also known for the many women he was involved with, but he only married two of […]
“Losing a loved one isn’t just an emotional burden—it also carries an administrative load. There are flower arrangements to pick, eulogies to write and a stream of paperwork to sort through.” One way to show loved ones that you care is by having an estate plan and communicating your wishes to them clearly, notes the […]
“Certain types of trusts, however, may only be used in very specific situations and a constructive trust is one of them.” Trusts are useful in estate planning to avoid probate or minimize estate taxes. A commonly used trust is a revocable trust, often used to pass on assets to beneficiaries and keep them outside of […]
“It is also important to realize that it isn’t merely ‘why’ you are updating your will, but ‘when’ you are updating that can make all the difference.” Estate planning lawyers hear it all the time—people meaning to update their will, but somehow never getting around to actually getting it done. The only group larger than […]
“If there’s a family member or a friend in your life who refuses to do their will and get their estate in order, here are some tips to finally get them to take action.” This is a tough scenario. It happens more often than you’d think. Someone owns a home, investment accounts and an inheritance, […]
“It took my husband Mike’s heart attack to force us to recognize the need for having an estate plan. It was not smart. You are smarter than that. Create an estate plan today.” The time to have an estate plan really begins the moment you have assets that need to be distributed, but most people […]
“Does your ability to pass on your wealth to your heirs depend on where you live … and die? Indeed, it does.” When the current health crisis finally passes, many people will have spent time considering what they want to do with their remaining years. That may include relocating. For some people, taxes are a […]
