Two of my good friends have gotten divorced in the past year. One breakup went relatively smoothly and the other was more of a “scorched earth” situation. Neither of these friends had prenuptial agreements, which would have made the process simpler and less painful for all parties involved. I was heartened to share with these …View Article
Category: Estate Planning
Estate Planning
Living Trusts: Who is Your Trustee?
Most people spend a lot of time thinking about the details of their wills or living trusts (except for Prince). Most of the deliberation is, “Who should get how much, and when?” A second consideration is, “Who should I leave in charge of carrying out my wishes?” The person who carries out your wishes is …View Article
Prepare Kids to Inherit Wealth
It comes as no surprise that the largest wealth transfer in history will unfold over the next 30 years as Baby Boomers leave their assets to their children and grandchildren. There’s an army of estate planning attorneys and financial advisors who are ready, willing, and able to help prepare kids to inherit their wealth. Yet …View Article
Lack of Estate Plan Puts Prince’s Fortune In Jeopardy
I am always surprised when I hear that 55% of adults do not have a will or trust. When people die with a lack of estate plan, they frequently leave a mess behind for their loved ones. Prince became the latest celebrity to pass away with a shocking lack of estate plan, although he is not …View Article
Asset Protection Trusts – How Do They Work?
One of the boxes frequently checked as “very important” on financial planning questionnaires is Asset Protection. Let’s face it; we live in a litigious society. Wouldn’t it be nice if you could just start singing the MC Hammer song “Can’t Touch This” if someone sued you and demanded all of your assets? Sadly, for MC …View Article