Category: Trusts
Advocates of prepaid tuition plans call them “peace of mind programs” and say they still offer that comfort … But some programs have run into trouble after investments lost money in the market downturn in 2008-09 and tuition rose faster than expected. Spring graduations are right around the corner! For all of the 2014 grads, […]
While my mother never ran a retirement calculator or created a formal retirement plan, she incorporated her individual longevity expectations into her retirement thinking. She enjoyed working past 65 and was also aiming to fortify her finances for what she logically expected would be a long retirement, given her good health and matrilineage. A recent study in […]
The first thing you need to have is a will. Without one, your assets will be divvied up according to the laws in your state. “It isn’t necessarily what you think or want,” warns California-based financial adviser Ted George. Do you really need a will? One word: Yes! If you don’t have a will, then […]
Several experts said that the ways that families handle these situations depends on multiple factors, such as what caused the disparity, how strong the sibling relationships are, whether the parents have money and more. When planning for your estate, you often look at the financial stability of your children. Who is better off financially? Do […]
Keep an eye on the Obama Administration budget proposals as there are several provisions which may affect estate planning. For example, there is a provision which would reduce the $5 Million federal estate tax exemption to $3.5 Million – the 2009 level. Stay tuned! http://www.treasury.gov/resource-center/tax-policy/Documents/General-Explanations-FY2015.pdf
While dynasty trusts may at first glance seem complex, they are an excellent mechanism to create structure around the family legacy and fortune and potentially avoid the familiar proverb of a wealthy family going from “shirtsleeves to shirtsleeves in three generations.” Ready for a history lesson on using trusts to pass on wealth? Long ago […]
Different plans, tools, and strategies might be needed for people with other life stories. The U.S. has a divorce rate of more than 50%, and many divorcees end up moving on and remarrying. So it is no surprise that there are more blended families today than ever before. This was the subject of a recent […]
There are several charitable giving strategies that help donors generate income from their gifts. Each is appropriate in different situations. Giving to charity is a very satisfying act, with the giver fulfilling the needs of a charity and experiencing the joys of goodwill in the process. What a great feeling! And what’s more, there are […]
Estate planning is not just for the rich. “I’ll get to it eventually.” Have you ever said this regarding your estate and financial plans? Unfortunately, far too many never get around to it. I guess you could say this sums up estate planning in a nutshell: if you fail to plan ahead and protect your […]
Either a will or a trust may be appropriate for your estate depending on your circumstances and neither is best for all situations. Which do you need more, a will or a trust? Or do you need both? Well, the answer really varies by person. Forbes recently considered this question in an article titled “Wills […]
