Posts Tagged ‘estate planning’
Estate planning for your digital assets
What will happen to your Facebook account when you die? What about all your photos shared on social media, your texts with loved ones, or documents on cloud-storage systems? In just the two-year period from 2012 to 2014, humans produced more data than in all of human civilization before that – and the pace is…
Read MoreDividing Your Estate: A Practical Approach
When planning the division of your assets, you may believe in a policy of “share and share alike.” This is perhaps the easiest method to avoid conflicts or complaints of favoritism. But does equality necessarily equate with fairness? Especially when you consider such factors as age, talents, skills, interests, needs, and degrees of material success.…
Read MoreThe Most Common Estate Planning Mistakes and How To Avoid Them
In the realm of estate planning, the ripple effects of our oversights often linger long after we’re gone, impacting the lives of those we leave behind. It’s the uniqueness of this area of planning that makes it paramount to get things right. Yet, many often trip up. Here’s a closer look at the six most…
Read MoreEstate Planning & Business Transition Checklist: Ensure your personal and business affairs align with your long-term goals
The end of the year serves as a natural checkpoint for many financial and personal processes, and with the arrival of the final months of 2023, proactive preparation becomes essential. Whether you are an individual looking to optimize your estate planning or a business owner contemplating a seamless transition, the steps you take now can…
Read More12 Estate Planning Must-Dos
Many of you already have estate documents, probably executed many years ago. You need an estate attorney to look over your documents every 10 years or so. Here are a dozen points to review. Do you have a will and powers of attorney for health care and property? These are part of every complete estate…
Read MoreTips to Avoid Common Estate Planning Mistakes: With a few simple actions, you can ensure your estate planning is effective
Whether your estate plan is simple or complex, there are many details, which are often overlooked, that can undermine your plan’s effectiveness. Are you aware of these common estate planning mistakes? Titling property jointly with your children as a substitute for a will. Unlike a will, a transfer of an interest in your property is…
Read MoreTips for Leaving an Inheritance to Family: Make sure you think about potential disruptions and plan ahead of time
Families inherit money and sometimes make the right moves investing and spending. Inheritances can also ignite disruption, divorce and a host of bad behavior – far from the hopes and plans of the benefactor. What happens when you leave what’s probably one of your biggest investments: your individual retirement plan? Your Retirement Assets Perhaps most…
Read MoreShould You Treat Your Kids Equally in Your Will?: The “right” decision is most aligned with your wishes for your family’s future
As parents approach their retirement years, they often grapple with the task of writing their wills and deciding how to allocate their assets among their children. One of the most pressing questions that arise is: should children be treated equally in a will? While the notion of equality sounds like the epitome of fairness, real-life…
Read MoreHow to Divide an Inheritance Equally: Minimize the need to decide taxes and transaction costs for all beneficiaries
Nothing ignites family arguments like inheritance. If you plan to leave money to more than a few beneficiaries, for the sake of peace and your own emotional legacy, know how to divide the proceeds fairly. First, you can divide your estate among however many heirs you want: three, seven, 11 or 13 and so on.…
Read MoreAcquaint Grown Children with Your Financial Affairs
Many parents may feel it is unnecessary to inform their adult children about their personal, financial affairs. However, as your children grow older, it can work to your advantage—and that of your entire family— to share with them key financial, medical, and estate planning information. An awareness of important information, and knowing where to locate…
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