Financial Advice for Retirement, Social Security, IRAs and Estate Planning

Estate Planning Basics

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how-the-turmoil-can-alter-trusts

How the Turmoil Can Alter Trusts

November 1, 2008

The financial crisis is causing major changes in the banking business, and that will lead to changes at trust companies and in trustees. Trust creators and beneficiaries need to at least monitor the situation and might need to take action. Many trusts have a corporate trustee or co-trustee, such as a bank or trust company. […]

the-financial-crisis-and-young-investors

The Financial Crisis and Young Investors

November 1, 2008

The financial and market disruptions are affecting more people than those in or near retirement. While years from their own retirements, young investors are viewing the recent market turmoil and concluding that the financial markets are not for them. They are reducing 401(k) contributions, taking early withdrawals, and deciding it is better to spend than […]

why-most-estate-plans-fail

Why Most Estate Plans Fail

October 1, 2008

A large percentage of estate plans fail to achieve one or more of their goals, and many of them fail for a surprising reason. In past visits we discussed the ways trustees, heirs, changed circumstances, and new laws upend estate plans. What we have not discussed is the most surprising and perhaps most frequent reason […]

avoid-taxes-help-grandkids

How to Avoid Tax while Helping Grandkids

October 1, 2008

Most people are concerned about the financial futures of their grandchildren and even great-grandchildren- more so than the security of their own children. After ensuring their own retirement years are secure, many people tell survey takers the security of the third and fourth generations is their next worry. Apparently they believe their children can take […]

how-to-save-your-estate-plan

How to Save Your Estate Plan

September 1, 2008

Too often what seems like a great estate plan fails to achieve its goals. Sometimes the execution is wrong. Other times the owner failed to take one or more key steps. One often-overlooked step is to ensure that the estate prevails in any audit by the IRS or state tax authorities. Estate tax returns are […]

safe-ways-to-give-wealth

7 Safe Ways to Give Wealth

August 1, 2008

Gift giving is the surest way to reduce estate taxes, help loved ones of all ages, and establish a legacy. Yet, many people are hesitant to make significant gifts to loved ones, because of the potential pitfalls. Those pitfalls, however, can be avoided with some shrewd and creative strategies to give wealth. Potential givers see […]

estate planning

Estate Planning to Avoid Rags to Riches to Rags

July 1, 2008

The pattern for family wealth seems fixed. Different times and different cultures display the same pattern. The first generation builds wealth, and the second generation shepherds or preserves it. The third and succeeding generations spend until it is dissipated. There are a few examples of families in which wealth lasted many generations but many more […]

estate planning

What is Your Estate Plan Missing?

July 1, 2008

Many people believe that a will and a trust or two is an estate plan. Others think that a living trust or joint title with a spouse is all they need. That is why most estate plans are woefully incomplete. There is much more to an estate plan. Heirs and loved ones often suffer from […]

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