A premarital agreement offers older couples a thoughtful way to protect assets, clarify financial expectations and strengthen trust before saying ‘I do.’
When you think of Jimmy Buffett, you probably picture sunsets, salt-rimmed glasses, and that laid-back Margaritaville life. But behind the scenes, Buffett’s estate plan is now at the center of a high-stakes legal battle that holds lessons for families of every size.
With these pressures, personal estate planning often takes a backseat. This can lead to missed opportunities for minimizing tax exposure and cementing a founder’s legacy.
As the founder of News Corporation, Murdoch built a global empire, which includes influential media outlets, like The Wall Street Journal and Fox News. However, his succession planning—or lack thereof—has been rife with controversy and challenges.
Most individuals don’t ever consider the value and extent of their digital assets and the potential loss if these assets become inaccessible or the conflict that can arise if it’s unclear who has access to and control over them.
Without proper planning, the high costs of nursing home care can quickly deplete your parents’ savings, leaving them financially vulnerable.
A properly managed trust provides financial support to beneficiaries while protecting assets. However, trustees must ensure that expenses align with the trust’s purpose and legal requirements.
Between 1% and 3% of wills are contested in the United States each year, research shows.
Effective estate planning ensures the longevity of your family business by addressing succession, tax efficiency and governance for future generations.
As we step into 2025, the theme for estate planning is: Be prepared.