Experience is undoubtedly the best teacher, but when it comes to estate planning you don't have the luxury of learning from your mistakes. However, you can become wiser by observing the mistakes of others. Though you don't have a window into the lives of people that you don't know, the media gives us perhaps too much information about the lives of celebrities. Some of the stories surrounding the estates of famous people can be instructive as you are making your own plans for … [Read more...] about Celebrities Provide Legacy Planning Clues
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Making Provisions For Minor Children
Estate planning is going to involve inventorying your assets in anticipation of future distribution of the same to your loved ones. You must then decide on how you are going to get these assets from point A to point B. When you're doing this you have to identify those who will be receiving inheritances and ideally choose the vehicles of asset transfer that are appropriate given the age and proclivities of these recipients. Along these lines many people have to stop and take pause … [Read more...] about Making Provisions For Minor Children
Trust Creation Can Provide Tax Savings
Everyone has their area of expertise, and in your business you have probably seen what happens when people try to take things into their own hands without the proper experience and training. The same thing happens in the field of estate planning, and sometimes the biggest mistake is pure inaction. Depending on the form of your assets, your specific objectives and the size and scope of your holdings, the utilization of any number of financial instruments may be called for. The key is to … [Read more...] about Trust Creation Can Provide Tax Savings
Who Will Handle Your Affairs?
When you are going through life as a healthy adult it can be difficult to wrap your head around a period of time preceding your death when you may not be able to make your own decisions. There are those who recognize the fact that it is possible but they assume that it is unlikely. The facts tell a different tale. According to the Alzheimer's Association one out of every eight people who reach the age of 65 are suffering from Alzheimer's disease. As you get older it becomes … [Read more...] about Who Will Handle Your Affairs?
Anatomy Of An Estate Plan
Some people hear about the concept of comprehensive estate planning and they are not sure about what this entails. Depending on the size and scope of your assets and the exact nature of your intentions, the specific details are going to vary family to family. But there are some basic rudiments that comprise the anatomy of the modern estate plan, and we would like to take a look at them here. Asset Transfers The first thing that is going to come to your mind when you're planning … [Read more...] about Anatomy Of An Estate Plan
Estate Tax Parameters: Looking Ahead
Perhaps the most important matter to consider that is outside of your control when you are planning your estate is possible exposure to the federal estate tax. One of the reasons why there are a lot of people who do not think that the estate tax is fair is because of the fact that everyone is not required to pay it. If it is so necessary for the functioning of the government, why is it selectively imposed? And how can you fairly create an exemption amount and then change it on an … [Read more...] about Estate Tax Parameters: Looking Ahead
Avoid Misconceptions Regarding Estate Planning
There are certain misconceptions floating around with regard to estate planning that should be debunked. When you act, or fail to act, due to bad or inaccurate information you can often put yourself and your family in a bad situation. With this in mind let's take a look at a few of the myths that are out there. One of them regards the estate tax. Some people are under the impression that they don't have to worry about it because they're not rich and this is a tax that is … [Read more...] about Avoid Misconceptions Regarding Estate Planning
Estate Planning: Explain Your Wishes To Your Family
There are those who like to keep their financial affairs close to their vests, and many of them have good reasons for doing so and of course this is a personal matter. However, when you are engaged in inheritance planning you may want to reconsider some long held convictions in this regard. There may come a time to open up a bit in an effort to make sure that your loved ones are on the same page after you pass away. The first consideration is going to be avoidance of challenges to your … [Read more...] about Estate Planning: Explain Your Wishes To Your Family
Davis Inheritance Plan For The Raiders
If you have been a fan of NFL football for a while you are well aware of the impact that Oakland Raiders owner Al Davis had on the sport. Davis became the owner of the team in 1970 and guided the franchise to four AFC Championships and a trio of Super Bowl triumphs. He worked with legendary coach John Madden and watched superstars such as Fred Biletnikoff, Daryle Lamonica, George Blanda, Jim Plunkett, Marcus Allen, Lester Hayes, and Art Shell carve out iconic careers. Al Davis … [Read more...] about Davis Inheritance Plan For The Raiders
A Legacy Of Wisdom
Depending on just how seriously you take your legacy, there can be a lot more to estate planning than just preparing your assets for eventual transfer to your heirs. When you sit back and ruminate with regard to your life's path you may find it to be relatively easy to come to terms with your own mortality. The thing that bothers a lot of people more than anything else is the fact that they will no longer be around to counsel their loved ones. Without question, financial resources … [Read more...] about A Legacy Of Wisdom
