In a nutshell, an estate plan encompasses the accumulation, conservation and distribution of an estate. Done well, it will enhance and maintain the financial security of the next generation.
The heirs of Samsung Electronics Co. Chairman Lee Kun-hee, who died Sunday, could face billions of dollars in inheritance taxes. However, that doesn’t necessarily mean they’ll have to cede control over the group by selling shares.
Prince’s sudden death in 2016 triggered numerous court proceedings. First, probate documents had to be filed in court because Prince died without a will.
If you have not already been inundated with invitations to webinars, articles and newsletters regarding estate planning, you should consider doing so before the end of the year, since you undoubtedly will receive these over the next few months.
September is the most common birth month of the year. It’s also a good time for new parents to think about the financial side of their parental responsibilities.
During estate planning, one of the situations that you must plan for is the possible sale of real estate, artwork, and especially operating family businesses. What is sometimes overlooked in planning is what happens after there has been such a sale.
Why wait? A variety of trusts—from SLATs to BDITs, GRATs and more—can help you be proactive in protecting your wealth.
Although there is often a progression of complexity in estate planning, this progression generally follows stages in life rather than specific ages.
Regardless of the pandemic, experts say it’s important to plan for when you’re not here—that is, give thought to what would happen to your bank accounts, your home and your belongings, as well as, perhaps, your dependents.
The period leading up to and shortly after losing a close relative is often one of the most emotionally demanding times that we, as humans, experience.
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