Many people have their estate plans on the backburner. Two fairly recent cases show why procrastinating about or neglecting an estate plan is dangerous. In the first case, a family corporation’s ownership was divided among the husband, wife, and two adult sons. The wife passed away first. There apparently was no will, and no estate […]
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In last week’s edition of Retirement Watch Weekly, we began revealing a list of reasons why most estate plans often fail. Please read on for the rest of the list… Clients generally need an estate planner who will spend some time getting to know about their families, their finances, and their general goals and values. […]
A large percentage of estate plans fail to achieve one or more of their goals, and many of them fail for a surprising reason. One cause is the most surprising and perhaps most frequent reason estate plans fail: The estate owners do not implement their plans. The failure to implement an estate plan is surprising. […]
Celebrities and the very wealthy frequently make headlines with Estate Planning problems that provide important lessons for the rest of us. Their lifestyles might be different, but the rich and famous deal with as many estate planning issues as the rest of us. Here are some celebrities whose estates made headlines and what you can […]
There’s an important gap in many estate plans. The oversight can cause a large portion of your estate to end up with people other than your loved ones. The Estate Planning goal many people overlook is to ensure that a large portion of the estate doesn’t end up in the hands of people you never […]
In Part 1 of this article, we reviewed some classic Estate Planning mistakes that are fairly common among retirees. Today, let’s continue the discussion with four more oversights, so you can evaluate your own estate planning process. Leaving assets outright to adult children. Many people believe trusts are needed only when minor children inherit. […]
If you’ve never seen an Estate Planning professional… Or if your estate planning hasn’t been revised within the last three years… Then your plan is likely to have at least one of these classic mistakes. Today let’s go through these estate planning mistakes, one by one… 1. Relying only on a will. A written […]