Estate planning is an emotionally challenging task at every step of the process. Whether you are writing your own will, helping an older relative plan their estate, or serving as the executor of the estate of a deceased loved one,…
In 2008, Congress recognized the need for the public to understand the importance and benefits of estate planning by passing House Resolution 1499, which designated the third week of October as National Estate Planning Awareness Week. Nevertheless, according to a…
Estate planning can be a very difficult process. While it is not brain surgery, making the decision to move forward with an estate plan requires us to face the fact that we will not live forever. This thought stops many…
You finally bought that vacation home you’ve always wanted. How can you add it to your estate plan? When it comes to planning your estate, a vacation home is very different from your primary home. Here are some things you…
Studies have shown that 70% of family wealth is lost by the end of the second generation and 90% by the end of the third. You need to understand, and work to overcome, the disconnect that occurs between generations regarding…
No matter how good you are are planning, other people are almost always affected by your decisions and actions as well as your success and failures. The people who are affected are often the ones we care about the most…
Many estate plans contain irrevocable dynasty trusts that are designed to benefit a spouse and several generations. These trusts can span continue many decades, and it’s important to clarify who is a beneficiary at each generation. Who Are Your Descendants?…
A 2012 study by Ohio State researcher Jay Zagorsky found that about one-third of Americans who receive an inheritance have negative savings within two years of getting their money, and of those who receive $100,000 or more, nearly one in…
As we build wealth, we naturally desire to pass that financial stability to our offspring. With the grandkids, especially, we often share a special bond that makes us want to provide well for their future. However, that bond can actually…