Studies have shown that 70% of family wealth is lost by the end of the second generation and 90% by the end of the third. Help your loved ones avoid becoming one of these statistics. You need to educate and update your heirs about your wealth transfer goals and the plan you have put in place to achieve these goals. What Must You Communicate to Future Generations to Facilitate Transfer of Your Wealth? You must communicate the following information to your family to ensure that

A common misconception is that estate planning equates to death planning. But planning for what happens after you die is only one piece of the estate planning puzzle. It is just as important to make a plan for what happens if you become mentally incapacitated. What Happens Without an Incapacity Plan? Without a comprehensive incapacity plan, a judge can appoint an agent (known as a guardian or a conservator) to take control of your assets and make all personal and medical dec

In March, winter is supposed to start thawing and flowers are supposed to begin to bud. At this rate, all this might not happen until July! Regardless, for many of us, March means summer vacation planning season is here. As vacation planning kicks into high gear, here are a few important things to add to your vacation readiness checklist. Guardian Nomination If it's just you and a spouse leaving for a getaway this summer, who is going to take care of the kids while you’re

If you think you only need to create discretionary lifetime trusts for young beneficiaries, problem beneficiaries, or financially inexperienced beneficiaries, then think again. In this day and age of frivolous lawsuits and high divorce rates, discretionary lifetime trusts should be considered for all of your beneficiaries, minors and adults alike. What is a Discretionary Lifetime Trust? A discretionary lifetime trust is a type of irrevocable trust that you can create while y