Most of us would like to think that our children and grandchildren could handle a sizeable inheritance. The statistics say otherwise. Some studies have shown that most inheritances are totally gone within 18-24 months of receipt – regardless of the age of the recipient – and regardless of the size of the estate! The truth…

In the midst of the trauma of divorce, few couples are thinking first (or at all) about their estate planning. But it is very important that your planning be reviewed by your team of advisors, possibly including your attorney, your financial advisor, your insurance professional, and your CPA. All aspects of your financial situation will…

So, you’ve created a will, designating your heirs and setting forth their inheritance. You think everything has been well planned ahead of time. For all that, how sure are you that the inheritance you worked your lifetime to accumulate will be used and enjoyed by the people you want and by them alone? Have you…

Friends and colleagues of ours are heading out for a two week vacation in Greece. They are celebrating their 30th anniversary with a few days in Athens and then the rest of the time on the beautiful island of Milos. It should be an amazing trip, and also a reminder to all to make sure…

Much of the wealth in the United States is created by business owners. Although many owners start out as sole proprietorships, as the business grows, they may want and need to consider a more formal approach to owning their business. The key question is how to choose among entity options. First, seek advice. Because of…

Life insurance is a unique asset used to accomplish any of the following: The creation of an estate where circumstances have kept the estate owner from accumulating sufficient assets to care for his loved ones in the event of a premature death. To protect a business value due to the loss of key employees. For…

Although estate planning documents may be signed, the estate planning process is not complete until asset titles are changed so that they can be controlled by those documents. The act of retitling assets is called funding. So, when the estate planning attorney or your financial advisor speaks of funding your trust, for example, he or…

Did you ever consider that you might want to do “special needs” planning even if you don’t have any special needs children or grandchildren? Can you imagine how one of your children could come to have special needs after you’re gone? One of our colleagues relates this story. Sid and Elaine had three children, and…

Bill Johnson is a typical business owner and entrepreneur. He’s a visionary and a big-picture thinker. He’s a risk-taker, but his risks are calculated and he’s wise in the ways of business. Bill’s day is filled with the typical challenges of a small business owner: finding new customers, serving current customers, dealing with employees, keeping…

For years there has been talk about doing away with the Federal estate tax. So far, this year’s most popular question from clients is, now that the estate tax is gone, do we still need to do estate planning? The short answer is that if estate planning was only about the tax, then estate planning…

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