Tag: estate planning
For many people, a family-owned business is their primary source of wealth, so it’s critical to plan carefully for the transition of ownership from one generation to the next.
The best approach depends on your particular circumstances. If your net worth … Read More »
Estate Planning Briefs. Comments Off on Two ways to transfer a family business
When married couples neglect to prepare an estate plan, state intestacy laws step in to help provide financial security for the surviving spouse. It may not be the plan they would have designed, but at least it offers some measure … Read More »
Estate Planning Briefs. Comments Off on For unmarried couples, estate planning is indispensable
Estate planning and investment risk management go hand in hand. After all, an estate plan is effective only if you have some wealth to transfer to the next generation. One of the best ways to reduce your investment risk is … Read More »
Estate Planning Briefs. Comments Off on Is a significant portion of your wealth concentrated in a single stock?
There’s no law that says you can’t prepare your own estate plan. And with an abundance of online services that automate the creation of wills and other documents, it’s easy to do. But unless your estate is small and your … Read More »
Estate Planning Briefs. Comments Off on At your own risk: The pitfalls of DIY estate planning
No matter how diligently you prepare, your estate plan can quickly be derailed if you or a loved one requires long-term home health care or an extended stay at a nursing home or assisted living facility.
The annual cost of long-term … Read More »
Estate Planning Briefs. Comments Off on Addressing long-term care costs with a tax-qualified LTC insurance policy
Irrevocable trusts can allow for the smooth, tax-advantaged transfer of wealth to family members. But there’s a drawback: When you set up an irrevocable trust, you must relinquish control of the assets placed in it. What you can control is … Read More »
Estate Planning Briefs. Comments Off on Protect your peace of mind with a trust protector
If you have a child or other family member with a disabling condition that requires long-term care or prevents (or will prevent) him or her from being able to support him- or herself, consider establishing a special needs trust (SNT). … Read More »
Estate Planning Briefs. Comments Off on Provide for family members with special needs using an SNT
It may be difficult to consider, but funeral arrangements are a critical component of your estate plan. Failure to clearly communicate your wishes regarding the disposition of your remains can lead to tension, disputes and even litigation among your family … Read More »
Estate Planning Briefs. Comments Off on Have you made your burial wishes clear?
If you’re charitably inclined, you may wish to consider a charitable gift annuity. It can combine the benefits of an immediate income tax deduction and a lifetime income stream. Furthermore, it allows you to support a favorite charity and reduce … Read More »
Estate Planning Briefs. Comments Off on Double duty giving with charitable gift annuities
Even though you can’t physically touch digital assets, they’re just as important to include in your estate plan as your material assets. Digital assets may include online bank and brokerage accounts, digital photo galleries, and even email and social media … Read More »
Estate Planning Briefs. Comments Off on 21st century estate planning accounts for digital assets