Money security, in most cases, is a choice. It requires the right mindset and consistent actions. Like learning a craft or skill, time, patience and devout determination is required, most especially if you are starting from a difficult position. How do you deal with money? What is your "mindset" when…
Family law practitioner Andy Low Hann Yong also noted a "significant increase" in inquiries for will writing service of late. He said this could be due to rising public awareness on the importance of having a will, or the occurrence of unfortunate incidents such as Malaysia Airlines Flight MH370 and…
One of the colossal failures in estate planning I witness when people make their wills is not coordinating the will with the overall beneficiary designations they have chosen. Does your will surpass your beneficiary designations on financial accounts? A recent Wall Street Journal article, titled "How People Undermine Their Own…
They can be incredibly useful tools, and thanks to the publicity, more people may consider using them, but many people misunderstand how trusts work. Let's take a look at — and dispel — three common myths about them. Are trusts too much work? Are they only for the rich and…
So who needs estate planning? The answer is just about everyone. Although it is true that the planning that is required for a person with very limited wealth versus that of a person with great wealth, should not be as complex or costly, some degree of planning is required nevertheless.…
Mediation has emerged as a valuable tool for seniors and their families as an alternative to costly litigation. Mediation can be a useful instrument to prevent post death conflict by dealing with a family's issues during the senior's life. A recent issue of the New York Law Journal, titled "Mediation:…
Serious art collectors might roll over in their graves—or never marry—if they knew what feuds their purchases were destined to inspire. On the other hand, lots of friction can be avoided if lovers of art and their families acquaint themselves with a few legal and tax basics. So, who's getting…
A tax battle is brewing over his $83 million estate, pitting Mr. Clancy’s wife against the adult children of his former marriage. His widow Alexandra Clancy is taking legal steps aimed at shifting all state and federal estate taxes—estimated in court papers at as much as $16 million—to the portion of the…
Several recent celebrity estate issues in the news highlight how important it is to plan ahead and get professional advice when setting up your estate plans. When celebrities pass away, aspects of their estates hit the news almost immediately. These high-profile cases can offer some valuable lessons for the rest…
Below are key financial planning tips to guide you through the four seasons of your financial life. With summer ending and fall around the corner, the changing of seasons is almost upon us. Just as the seasons change with each passing year, your financial seasons change as well. An article…