One of the challenges of asset distribution comes when your children’s lives have taken different turns. Do you leave your successful daughter the same amount of money that you would leave to a son, who can’t seem to find a direction? It’s not always easy, but decisions do need to…
It sounds crazy, but there are many good reasons why someone would not want to receive an inheritance. Making sure that you are not forced to receive assets must be done very carefully, so you’ll need an estate planning attorney on your team. An estate waiver, also known as an…
The rules are strict, and mistakes can be costly. Inheriting an IRA is not like inheriting any other asset. You’ll need to be very careful to follow the rules. Usually the parent is the beneficiary and the children (grandchildren) are successor beneficiaries. Here’s how it works, as described in nj.com’s…
Here’s one celebrity savvy about estate planning. Actor and producer Brad Pitt has an estate plan that will keep his money away from his ex and benefit his children through a $250 million trust. After reading about so many celebrities who fail to plan for the future, it’s refreshing to…
Your legacy is far richer than your assets and possessions. Planning to pass on a legacy to your family becomes more rewarding, when it includes non-tangibles, like values and treasured family stories. Who wants to think about death, dying and bank accounts? Not too many people do. That’s why so…
Unintended consequences can occur when dividing up real property, which is often harder to distribute than investment accounts or savings accounts. Planning for real property division must take into account the different circumstances of your heirs. You may have envisioned a time in the future, when your children and grandchildren…
Legal battles that lasted longer than the marriage, continue to plague the daughter of a real estate investor. A court action brought by a young woman, whose mother devoted nine years to gaining control of her trust fund, is now trying to free herself from her mother’s financial grip. Her…
Inheritances by their very nature, create many mixed emotions. While you are grateful for the inheritance, you are grieving, which is a painful experience that impacts decision-making skills. Perhaps the most important thing to know when you are grieving the loss of a loved one and expect to receive an…
If you’re walking down the aisle again, there are a number of smart steps to take before you say “I do” another time. Just as your life was probably simpler the first time you married, your subsequent marriage, especially if it occurs late in life, can become problematic, if good…
When the greed nerve gets tapped, relationships suffer. There are things you can do now that will lessen the likelihood of family battles after you pass. Every family has its own dynamics, and some siblings that never resolve their differences, no matter how many years go by. When both parents…