You just got married or had a child and decide it’s time to make an estate plan. Where do you start? What do you need? Should you just draft a will and be finished? Wills are important, but there is much more to an estate plan. Read on to learn about six important components you…
Maybe not the first thing people think about when they think about estate planning. But for many clients, their pets are a key part of their life and they want to make sure that if something happens, their pets will be properly cared for in the short and longer term. Some of us may remember…
Much of the life insurance purchased over the past 15-20 years for estate planning purposes was of a type known as guaranteed universal life insurance. It was (and is) popular in estate planning because it was generally less expensive to buy than traditional whole life, yet it came with a guarantee such that the risk…
Not normally a big deal. But in this case, the laptop represented access to $145M in cryptocurrency. Apparently, the only access to this money. Talk about making a bad day even worse! According to the news reports, Gerald Cotten, dying unexpectedly at 30 years old, was very concerned about security and used multiple layers of…
For decades a debate raged in legal circles about which documents were better – wills or trusts. Members of the public didn’t really know the difference, but there was a perception that trusts were more complicated and expensive – and were primarily for wealthy people. Those who favored trusts told the story of Ellen. When…
Most of us would like to think that our children and grandchildren could handle a sizeable inheritance. The statistics say otherwise. Some studies have shown that most inheritances are totally gone within 18-24 months of receipt – regardless of the age of the recipient – and regardless of the size of the estate! The truth…
In the midst of the trauma of divorce, few couples are thinking first (or at all) about their estate planning. But it is very important that your planning be reviewed by your team of advisors, possibly including your attorney, your financial advisor, your insurance professional, and your CPA. All aspects of your financial situation will…
So, you’ve created a will, designating your heirs and setting forth their inheritance. You think everything has been well planned ahead of time. For all that, how sure are you that the inheritance you worked your lifetime to accumulate will be used and enjoyed by the people you want and by them alone? Have you…
Friends and colleagues of ours are heading out for a two week vacation in Greece. They are celebrating their 30th anniversary with a few days in Athens and then the rest of the time on the beautiful island of Milos. It should be an amazing trip, and also a reminder to all to make sure…
Much of the wealth in the United States is created by business owners. Although many owners start out as sole proprietorships, as the business grows, they may want and need to consider a more formal approach to owning their business. The key question is how to choose among entity options. First, seek advice. Because of…