Category: Trusts
If you leave them a large inheritance, can they handle it? The goal of determining the correct amount of an inheritance that will help your children, yet not hinder them in creating their own careers, is a challenge, according to the Wills, Trusts & Estates Prof Blog in “New Focus for Estate Planning.” The key […]
If you are considering an estate plan, you need to take a close look at a trust. Trusts are not always better than wills. However, there are at least five scenarios that put trusts out front, according to Wicked Local Norwood in “Five Ways in which a trust is better than a will.” Those reasons […]
Daughter sues her mother for wasting $13 million of inheritance. A trust set up for a young girl was originally overseen by Citibank. However, in 2003 the mother took over the trust creating a battle in the future, according to the Daily Mail in “Daughter sues her ‘self-involved’ mother for ‘frittering away more than $13m of […]
You can create your own will. However, mistakes can turn out to be costly. There are hidden dangers in creating your own will, according to The New York Times in “Wills Can Avert Family Warfare, but Have Their Own Hidden Traps.” Most Americans do not have a will but a greater percentage of Americans have them […]
Financial considerations are necessary if you plan to leave that summer home to the kids. While the children may have fond memories of the family vacation home, they may not be able to afford it or even want it after you pass, according to the Globe and Mail in “How to keep the cottage in […]
Probate does not have to be an ugly word that calls up nightmares. One of the most frequent questions addressed to estate planning attorneys is how to avoid probate, according to Forbes in “Probate, Wills, Executors: Your Estate Planning Questions Answered.” Probate, which is actually just the type of court where a will or estate […]
Wealth created by the original generator does not remain, unless properly maintained. The heirs of James Jewett Stillman have found themselves in the position of auctioning off art to obtain money to save the estate, according to Bloomberg in “New York Banking Royalty’s Heirs Are Unloading Art to Save the Family Estate.” Stillman, who is […]
Trusts becoming subject of public discussion. Ivanka Trump’s trust is bringing some light to shine on the subject of trusts, according to The New York Times article “Despite a Trust, Ivanka Trump Still Wields Power Over Her Brand.” Trusts are not often a subject of much public discussion. They are important to estate planners, but […]
It is important to remember that setting up an estate plan with an estate planning attorney, is unlikely to be complicated or even that hard. Estate planning is not that complicated and can even be as simple as transferring assets, according to the Times Herald-Record in “Transferring assets upon death.” There are four main ways […]
The money of the aging super wealthy will change hands. The 1% of the aging population that controls much of the World’s wealth is looking to the future when the money will change hands, according to Private Wealth in “The World’s Aging Rich Are Plotting What’s Next.” Economic data shows that wealth in the U.S. […]
