Many clients, regardless of net worth and income, are starting to deal with this question. How much is enough to leave for my children? Bill Gates has said that he will not leave a lot of money to his heirs because he does not think it would be good for them. His friend Warren Buffet…

An important concept to remember is that the wealth you are planning for is your own, and there’s nothing wrong with attaching incentives or disincentives to the inheritance because it was created by your own hard work and effort! Nobody wants to think that the results of a lifetime of labor are going to be…

Ernest Becker, the Pulitzer Prize-winning psychologist and author of The Denial of Death wrote, “…what man really fears is not so much extinction, but extinction with insignificance.” For some business owners, survival of the business beyond their lifetime is viewed as the owner’s legacy. For others, it includes the business…and much more. Legacy Planning is…

Once people reach a certain level of financial success, pursuits often become less about accumulating wealth, and more about creating significance, or leaving a legacy. This most often reveals itself through increased involvement in things that benefit their community and the world. In the world of estate and wealth strategies planning, there are many tools…

Life is never easy for the spouse and family of an entrepreneur. And that was certainly true of Tim’s family. Over the years, they had to learn to cope with a certain level of insecurity and fear of the unknown, to live through periods of excitement and depression, through days of exuberance and days of…

Would it surprise you if your professional advisor recommended “special needs” planning when you don’t have any special needs children or grandchildren? It’s important to think about things that might happen to your loved ones after you’re gone. Especially as they might be affected by your estate plan. As advisors, we always try to help…

This story is based on a real case involving a man who created a solid plan for his estate that, unfortunately, went completely wrong. Here is what happened. In 2005, Joe Bartlett, owner of Optimum Manufacturing, created a will leaving everything except his business to his second wife, Cathy Carter. Joe left instructions in his…

Your family cabin, cottage, or vacation home may be one of your most significant financial assets. It is also likely to be the one with the most enduring memories and emotional ties. The property may have been in your family for decades with your children and grandchildren experiencing special family gatherings and having spent their…

A colleague of ours recently assembled a list of the top 10 estate planning issues. This list is a great tool to assure that key items are not overlooked. All of these issues deserve thoughtful consideration. They can also create major problems if not dealt with in advance. Probate: Court supervised administration of your estate…

For parents, it is difficult to watch children or grandchildren go through a failed marriage. But even worse might be the knowledge that money you left for their inheritance ends up in the hands of an ex-son or daughter-in-law. The good news is that you can take steps today to protect the assets passing to…

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