As the notorious artist warned us, more money always brings more problems. This is particularly true when making an estate plan. After all, who will inherit your wealth, business interests, investments, homes—everything it has taken you a lifetime to build? Here’s your chance to learn the most common pitfalls and how to avoid them straight from a high-net-worth estate planning …
Secure Their Future Now: ScholarShield As college students embark on an exciting new chapter, it’s easy to overlook the importance of estate planning. While it may seem like a concern for older adults, having an estate plan in place is crucial for students as they step into adulthood. Once your child (or grandchild) turns 18, you will no longer be …
Gen Z Estate Plans: This Isn’t Your Grandpa’s Will This probably isn’t the first time you’ve been advised to make an estate plan. In fact, most people agree that making a will is extremely important—only to admit they haven’t made one in the next breath. When it comes to walking the walk, one demographic is quickly pulling ahead of the …
College Trust Fund vs 529 Plan: What Parents Need to Know It’s a privilege to pay for your child’s education, but let’s face it: it’s also a headache. Whether you’re planning to pay the bills as they come in or have been saving since their first birthday, you’ll likely be paying more than just tuition before you see a diploma. …
A Guide to Paying Final Expenses After the Death of a Family Member Paying expenses after death can place significant financial stress on grieving families. Without prepaid funeral services or payable-on-death funds, your personal representative might have to dip into their own savings to cover the costs—at least until probate clears. Unfortunately, many family members are unprepared for the high …
Estate Planning for Elderly Parents: How to Nudge Mom or Dad Into Making a Will Sixty isn’t what it used to be. Indeed, seventy doesn’t seem to restrict too many people either. These days, people clinically labeled “elderly” may be active, in great health, and show no signs of slowing down—have you seen who dominates the pickleball courts? So when …
Estate Planning for Millennials: How to Protect Your Partner, Young Children, and Aging Parents If you’re in your 40s or just celebrated your 50th birthday, your daily life has a variety of challenges. Career advancement, planning for retirement, raising teenagers, caring for aging parents—you’re so busy that the thought of getting your affairs in order hasn’t even crossed your mind. …
Rules for a Successful 529-to-Roth Rollover: Turn College Funds Into Retirement Funds After dropping your child off at school for their final year, you realize there’s still plenty left over in their 529 plan. Well, what now? If you’re considering transferring unused college funds into a retirement account, a tax-advantaged Roth IRA could help you boost potential long-term wealth accumulation. …
You probably know deeds are legal documents that transfer legal ownership of an asset from one party to another. However, you might not know that there are a myriad of deeds used in each state, each with different powers and limitations. The one you need depends on when and how you want to relinquish control of a property. For example, …
There may come a time when a relative’s behavior warrants their removal from your estate plan. Such a decision normally does not come lightly, and the person seeking to make the change has often agonized over the decision for several weeks (if not months). Completely disinheriting an heir in the immediate family, such as a child or grandchild, should be …
