Many people who inherit wealth or small businesses are at significant risk for essentially squandering the wealth. Here are a few pointers for setting up your beneficiaries for success:
Holidays are about loved ones and so is legal planning. Here are some important questions to ponder this holiday season, as you gather with family and friends. If any of your children received their inheritance today, would you be concerned about how they would handle it? Do you want to protect the money you pass down from your loved ones’ creditors, divorcing spouses, or predators? Do you have enough assets or life insurance to care for your children in your absence? Have you recently created a list of your assets, so that if something happens to you, family knows where.
This weekend, over four thousand theaters across the country were flooded with Star Wars fans. Americans young and old turned out to see the debut of Episode VIII: The Last Jedi. If you were there, you saw Carrie Fisher on screen, reprising her iconic role as Princess Leia Organa. Sadly, the actress who stole our hearts as Luke Skywalker’s unwitting twin sister was not there to see the premiere of this latest installment. On December 27, 2016, she passed away at the age of 60 from a heart attack. Carrie was the daughter of Debbie Reynolds, a major celebrity in.
Most people today know and love someone from a blended family, or come from a blended family themselves. The latest statistics show 46 percent of weddings taking place in the United States today are the creation of a stepfamily. Blended families come in countless shapes and sizes, and can be just as diverse in their dynamics and values. If you are part of a blended family, you are aware of the unique benefits and challenges that can come with the territory. Because they are so unique, the process of protecting your family can be equally challenging. It is therefore important.
Some of us are familiar enough with the phrase “estate plan
Choosing someone to administer your estate may be a daunting task. This person is known as a fiduciary or someone who is legally obligated to act in your interest. After you thoughtfully set up your trust and the stipulations for taking care of your loved ones financially, you will need someone to act in your behalf to see it through. He or she will be responsible for continued management of the trust and/or distribution to the beneficiaries. The trustee will consult with the beneficiaries about periodic checks issued from the trust, expenses to be paid and permissible withdrawals against the principal. Here are some considerations for selecting the right person for the job.
