Estate planning is a crucial part of any holistic financial plan, and financial advisors often work with estate planning attorneys for guidance in this area.
Perhaps one of the most difficult, and increasingly common, estate planning questions involves the inclusion or disinheritance of an estranged child.
Many people have signed at least one power of attorney in their life. A power of attorney, which names a trusted family member, friend or advisor as your ‘attorney-in-fact’ to control your assets, is meant to be used if you are incapacitated.
For nearly 15 years, James Brown’s estate has been one of the most contentious legal cases in the entertainment industry, involving volleys of lawsuits among his children, his former romantic partner and its various administrators.
Trust funds are not just for the ultra-rich. These sophisticated estate-planning tools can make just as much sense for middle-class Americans who own a home and have a net worth of at least $100,000.
One of the biggest concerns a trust creator might have is that the beneficiary would squander their inheritance or that the beneficiary’s creditor would attach the inheritance to cover the beneficiary’s debt.
Estate planning is a cornerstone of any healthy financial plan, but it can be difficult to discuss.
Probate survives as a procedure originally implemented by the King of England to protect his citizens from themselves and their greed.
One of the most important decisions you will ever make is choosing a fiduciary.
Trusts give parents of special-needs children additional options for extending care and financial assistance. However, you might need some expert help.
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