For many business owners, between 70% and 80% of their wealth is tied up in their business. Research also shows that just 20% to 30% of businesses that go to market actually sell. That leaves 80% of business owners with limited options to monetize the value of their...
Hearing about an inheritance can be bittersweet because it’s nice to receive a lump sum of money, but it likely means you have lost a loved one. Real Simple’s recent article entitled “The First 3 Money Moves to Make if You’re About to Get an Inheritance”...
If you’re planning to leave your heirs an inheritance, you can help them by choosing some assets that are much better inheritances than others. Kiplinger’s recent article entitled “6 of the Best Assets to Inherit” explains that some assets you could leave your heirs...
Being asked to serve as an executor is a big compliment with potential pitfalls, advises the recent article “How to Prepare to Be an Executor of an Estate” from U.S. News & World Report. You are being asked because you are considered trustworthy and able to handle...
Barron’s recent article entitled “How to Ensure Heirs Avoid a Password-Protected Nightmare” explains that even financial planners may not consider until too late, how difficult it can be to recover and access a loved one’s accounts after they pass away. Since we are...
Young adults are starting to get their affairs in order, contacting estate planning attorneys because they are concerned about dying unexpectedly. A study by Caring.com, a senior referral service, said that almost a third of young adults, ages 18—34, had a will in...
Parents often use life estates to leave the family home to children, while remaining in the house for the rest of their lives. However, sometimes things don’t work out as intended. If and how changes may be made to a life estate is the focus of a recent article “How...
A comprehensive business succession plan is a set of legal guidelines to ensure an orderly transfer of financial control and executive responsibilities to a new generation of leaders. Index Fund Advisors’ recent article entitled “How to Avoid a Messy Succession...
Many of us overlook the amount of information and assets we have online (out so-called “digital assets”) – for example, frequent flier miles, online bank accounts, subscriptions, photos, social media accounts, personal or business websites, etc. The...
Statecollege.com’s recent article entitled “Did You Know 529s Are Powerful Estate Planning Tools?” explains that specialized savings accounts, informally referred to as 529s, could be at the top of your list. These accounts have a number of advantages for...