Your family business was passed on to you by the previous generation, and your intention is to follow this trend. You’re reaching retirement age now and it’s time to think about the future. You aren’t always going to be physically able to cope with the strain of...
Estate Planning
2 reasons your will can be invalidated
It’s natural to want to leave something behind for the people and causes you care about when you die. To do so, however, you need to articulate your wishes in writing. And one of the most effective estate planning tools you can use to achieve this is a will. ...
Estate planning: A trust can help preserve your family’s wealth
You have probably thought about what will happen to your estate when you are gone. Will your heirs mismanage their inheritance? Will future generations benefit from the family wealth? You may want to consider including a trust in your estate plans if you have such...
What makes a good estate plan?
Most Americans lack an estate plan. To put it in another way, only one-third of them possess an established will or trust. Some of the reasons why many people don’t have an estate plan are because they either procrastinated or they’re unsure about how to create one...
3 things to know about an irrevocable trust
Adults should have a comprehensive estate plan in place so their loved ones can follow their wishes when they die. Most people have a will written out as part of the estate plan. For those who have considerable assets, a trust might be in order. When you’re ready to...
Factors to consider with high-net-worth estate planning
Wealth can solve many problems, but it can also create them, as most affluent individuals have learned. For example, if you leave behind a high-value estate, your loved ones may face substantial tax hardships. Estate planning empowers you to scale down the apparent...
What should you include in your estate plan?
When it’s time to make your estate plan, you’ll likely feel a bit confused and overwhelmed about everything you have to include. However, you realize that making your estate plan now benefits your family in the future. That’s not all, your will could help you in a...
Can you incentivize someone through your estate plan?
If you have considerable wealth, you might worry about its effect on your kids. You might feel they lack some of the hunger for success that drove you forward at their age. You may have read about the uber-rich giving most of their money to charity and leaving only a ...
How is life insurance handled by your estate?
As you sit down to do your estate planning, it’s natural to think of your life insurance is one of your larger assets. For most people, this is second only to real estate that they own or perhaps a business that they run. It can even be larger than investment...
The pros and cons of a revocable living trust
A revocable living trust is often created alongside a will. It allows you to name your trustee and transfer ownership of your property to them. By doing this, your trustee owns it, but you maintain control of the property while you are alive. Because the trust is...
