Many people choose to leave a charitable legacy as part of their estate plan. This can be accomplished by making a direct bequest in a will, donating retirement account assets, or establishing a trust. Each option has different tax implications and benefits, so understanding these differences can help you make informed decisions about your […]
Estate Plan
Should I Leave My Child a Buck?
Even the most meticulous parents can overlook important details when drafting their wills and allocating their estates. While the amounts left to beneficiaries may vary, the significance of precise wording should never be underestimated. Parents might even wonder: should I leave my child a buck? Conscientious parents might draft their wills after the birth of […]
A Close Look at a Trustees Duties
Julius Caesar’s wife was not a trustee, but she was (rather unfairly) expected to act like one. When she rebuffed a man who had tried to seduce her, Caesar divorced her anyway on the grounds that she must never even be suspected of unseemly behavior: “Caesar’s wife must be beyond suspicion.” The highest ethical standards […]
How To Be an Executor
As an executor, you have a long list of duties and a fiduciary obligation to act in the best interest of the estate and its heirs. You also have anxious beneficiaries who are already dealing with grief. One of your many tasks is to keep beneficiaries informed of the progress in settling the estate’s […]
How Do No-Contest Clauses Work?
Contesting a will is not just the stuff of TV melodramas — it happens in real life. After you’re gone, if a family member believes you didn’t have the requisite mental capacity to execute your will, that someone exerted undue influence over you, that someone committed fraud, or that the will wasn’t executed properly, […]
Building Long-Term Wealth With Your House
Real estate is one of the largest assets people own. Real estate tends to appreciate over time, so with care, home equity can be the foundation for your family’s fortunes, resulting in profits that can affect your children’s and grandchildren’s wealth. Owning real estate and building home equity can put you on a path […]
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