Estate Planning

When it comes to passing on your wealth to your family, it is important to know the best ways to manage the process. An estimated 90% of wealthy families lose their wealth by the third generation, so if you are planning on leaving behind assets to your family, knowing the unique risks to the affluent investor and considering strategies to maintain your wealth within your family can be very beneficial.[1] However, wealth transfer is not just [...]

Planning for after your passing can be difficult. But creating a plan for what happens to your estate is highly important for your family and your legacy. If left unattended, your estate can potentially be caught up in arduous court processes and cause disputes amongst your loved ones – and you don’t want to be remembered for that. Therefore, it’s important to start with the basics when legacy planning. So, let’s talk about trusts and wills. [...]

It’s easy to avoid making an estate plan, but not having one won’t be easy on your loved ones. Having your affairs in order can be a big help to your family, so consider creating a comprehensive estate plan. Unfortunately, there are many easy-to-overlook estate planning mistakes, such as not naming beneficiaries on retirement accounts, not doing so properly, or forgetting to update your estate plan. Not Naming Beneficiaries Many people don’t realize that they need [...]

You’ve probably passed on pieces of wisdom to your children, but have you considered how you’ll pass on your wealth? Now that you’re reaching a certain age, you may be wondering how you’ll pass on family heirlooms, property, or the wealth you’ve built over many years. Proper legacy planning could be one of the greatest gifts you give your loved ones. However, you may be delaying the process of creating an estate plan because you’re thinking, [...]

Did you know that Baby Boomers will pass down an estimated $68 trillion in wealth in the coming decades?[1] You’ve worked hard for your money and want to see it passed down in the most efficient way possible for your loved one’s benefit. Unfortunately, costly mistakes are all too easy to make. Understand the basics first, and then create an estate plan. A Will vs. a Trust Wills and trusts are both important estate planning tools [...]