Investors over the years have told me that they have it all worked out. "I've got a will, a trust and spoke to an attorney." Often, those instructions were done years ago, sometimes decades ago.
The phrase "frozen assets" is one that strikes fear into the heart of many a wealthy citizen. Yet, for investors interested in protecting and passing on their wealth, there is a way to re-appropriate the concept of "frozen assets" in a beneficial and advantageous way.
Yes, it may be unromantic to discuss finances in the event of a divorce, but on the other hand, it is romantic to know that the person you are committing to for the rest of your life is open to discussing any issue, whether it be boring and even emotionally complicated.
It was January, 2001; one month after my husband's death. I awakened one morning to an envelope sent by a dauntingly large law firm; something that no one needs to receive immediately after you have buried your beloved.
The challenges of succession -- both professionally and personally -- don't go away if you ignore them. The need for planning exists. The results are worse if you ignore the difficulty.
How does estate planning differ for same-sex couples versus heterosexual couples? Well, there are both state and federal issues influencing the financial implications of same-sex couples legalizing their unions -- and many, many unknowns.
Few 18-year-olds are prepared to handle a large lump sum of money. Laws prevent people from buying alcohol until age 21. It is assumed that people who can't legally buy a beer can somehow be responsible for handling thousands and sometimes millions of dollars.
An Ethical Will conveys values rather than valuables, feelings rather than furniture, untold blessings rather than unpaid bills.
RIP trolls claim that they are mocking "grief tourism," which they define as saccharine outpourings of grief. Yet to those who experience this kind of trolling it inspires disgust and deep sadness.
An important element of the estate planning strategy is maybe the simplest component of them all -- how to handle common bank accounts.
With digital privacy in the media spotlight and digital estate planning resources entering our mainstream consciousness, many of us have been inspired to think about the end of life and our online selves. And we should.
There are so many things to consider when having a baby! Here is financial checklist to get you started.
Getting your finances into shape can appear daunting. Breaking it down into categories can help simplify the process. There are five main categories that everyone should tackle.
Getting remarried later in life can actually bring about a host of financial and legal issues that are much different and more complicated than they are for younger couples just starting out. Here are some common problem areas you need to think about, and some tips and resources that can help.
By Jan. 1, 2013, not only will millions of people owe up to 20 percent more in estate taxes, but their options for asset protection will be significantly worse, as everything over $1 million will be subject to the highest rate of taxation. Not fully exploring your options now could prove very costly.
Money is about emotions. This is a primary reason that people blow through their money so quickly. They don't know what they are doing, but are convinced that they do. By the time they figure out their lack of knowledge, they are broke.