Top Five Mistakes to Avoid When Passing Wealth to the Next Generation
What could go wrong with this transfer of generational wealth? Several things, in fact.
Singles Need Estate Planning to Protect During Lifetime
You’re single, and you don’t have an estate plan or even a will. Perhaps you think you don’t need either because you’re not wealthy and don’t have children.
Who Will Inherit Tina Turner’s Fortune?
Tina Turner’s husband is set to inherit nearly half her estimated $250 million fortune.
What are the Consequences of Dying Without a Will?
When you die, a section of law known as estate and probate law governs how your assets are distributed.
Can We Learn from the Presley’s Estate Fight?
Priscilla Presley’s fight to remain trustee of Lisa Marie Presley’s trust can teach anyone a few lessons on proper estate planning.
What Is the Meaning of Step-Up in Basis?
Step-up in basis, also known as stepped-up basis, is a wrinkle in the federal tax code that can help heirs avoid or reduce taxes on inherited assets.
Is Surviving Spouse Automatically Your Beneficiary?
If the surviving spouse is a second or subsequent spouse and did not have any children with the decedent, the surviving spouse takes even less.
What Did Kirstie Alley Do for Estate Planning?
Kirstie Alley enjoyed the fruits of her labor following a successful career in the limelight, leaving behind a $40 million fortune and massive real estate portfolio.
Some Assets Better Left Outside of Will
That last will and testament you have tucked away? It may not be the last word on what happens to your stuff after you are gone. Instead, that legal document’s directives for doling out your wealth may be overruled by other paperwork and relevant laws.
How Should I Handle Memorabilia in My Estate Planning?
Memorabilia collections, by their nature, are specialized and unique. When considering your estate planning, it’s important to think about what you require of your beneficiaries — if you’re not planning on selling your collection — and how you can make that process as easy as possible for your family. What will your spouse or children have to deal with as they dispose of the items?
