Planning With an Aim Towards Building Unity Battles over the validity or terms of will or trust wreak havoc on families (I represent a couple of clients in the middle of these battles right now! It pains me to witness the destruction). These conflicts may result in irreparable resentment and loss of familial communication. Old rivalries and disputes can resurface during the trying time that occurs after the death of a loved one, especially a parent. Sad but true, if you are l

Death is a costly business. Aside from funeral expenses, legal fees can take a big chunk out of how much is left for your loved ones after you are gone. But it does not have to be this way. Careful planning can minimize the legal fees your loved ones will pay after you die. Here is how: 1. Make an estate plan – The cost of creating an estate plan will be far less than the legal fees your loved ones will have to pay if you do not have one. But be careful – do not try to wri

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

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