Posts Tagged ‘Inheritance’
Estate Planning Advice on Disinheriting a Child
When considering your estate plan, one of the things you will have to think about is who your beneficiaries will be. If you have a significant estate, this decision is made even more complex. How will you divvy up your assets, who will receive an inheritance and are there those who you will deliberately exclude?…
Read MoreAn Introduction to High-Net Worth Estate Planning
Estate planning is an important concern for anyone who desires their affairs be handled according to their wishes after their death. Planning for high-net worth individuals and families is complex and dependent upon the particular desires of the family. High-net worth estate planning should be handled carefully, so that your estate, which you’ve worked hard…
Read MoreEstate Planning is for Everyone
A common planning misconception is that only those with vast assets need an estate plan. But, it is important to emphasize that estate planning is not just for the wealthy. For many, the word “estate” conjures up a Downton Abbey-like property and an overwhelming amount of zeros on your bank account balance, but estate planning is a must, regardless of your tax bracket. An estate plan concerns…
Read MoreBitcoins and Estate Planning: Bequeathing Cryptocurrency
With the prevalence of Bitcoin as a form of digital currency, new considerations must be made when it comes to a variety of legal concerns. We recently looked at the repercussions of Bitcoin on divorce, but that is only the tip of the iceberg when it comes to the ways that Bitcoin is influencing how…
Read MoreCelebrity Estate Planning Mistakes to Avoid
In an interesting article, Fox Business delved into the “Monumental Estate Planning Blunders of 5 Celebrities.” The piece looks at estate planning mistakes made from some well-known, now-deceased stars who’s estate ended up out of their hands. Leona Helmsley, widow of real estate tycoon Harry Helmsely, famously left a $12 million dollar trust to her dog, Trouble. Ultimately, this only served to cause trouble…
Read MoreEstate Planning Faux Pas
Estate planning is important. If you haven’t already considered an estate plan, there is no time like the present. When considering how to start this process, you should consider professional advice. Fields and Dennis has years of experience under its belt and can help you produce an estate plan that is secure, cares for all…
Read MoreEstate Planning Lessons from Downton Abbey
A recent article from The Wall Street Journal offered “Money Lessons from Downton Abbey.” The popular British drama that takes place in the early 20th century recently ended its third season, but more important than providing entertainment, it can apparently offer valuable estate planning advice. While it is a period drama and work of fiction,…
Read MoreStudy Says Stories are Most Valued Inheritance
In a 2012 survey by the Allianz Life Insurance Company of North America, it was determined that family stories are more important to many than material inheritance. The American Legacies Pulse Study surveyed baby boomers (age 47-66) and elders (72+) and concluded that 86% of baby boomers and 74% of elders surveyed deemed their family’s…
Read MoreDisinheriting Someone Isn't Always Easy
The desire to disinherit someone from a will isn’t always as negative as it sounds. While most times individuals are disinherited out of anger or pride, it isn’t unheard of to desire one person to receive more or less of an estate due to financial and personal need. However, there are certain rules and guidelines to take into consideration…
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