Category Archives: Inheritance
Purchases To Potentially Avoid After Inheriting a Lot of Money
If a loved one has informed you that you will inherit a lot of money from their estate, it may be smart to speak to a financial professional now. This can help you avoid many of the most common problems associated with inheriting money and losing that value quickly. With a significant windfall come… Read More »
Inheriting Money? It’s Time To Talk To an Estate Planner Yourself
A recent study conducted by Free Will found that many heirs who are set to receive inheritances in the short term future would be more likely to work with a financial advisor after they inherit. Working with a financial advisor and identifying other professionals to help you with your planning process is extremely important… Read More »
How Much Money Will Be Inherited In 2020?
Do you have assets that you plan to pass on to your loved ones? Are there baby boomers in your family with substantial assets that will pass as part of their estate? Whatever your situation, you need to estate planning and an understanding of inheritance options to reflect on its impact on your life…. Read More »
Early Inheritances: Are They Right?
Does it make sense to give an early inheritance to your kids. Remember that giving financial gifts to your children should be done only when you have the support of an experienced estate plan lawyer who can walk you through the various consequences and benefits of doing so. It can be very satisfying to… Read More »
Caring for a Child with Addiction or Mental Illness After You Pass Away
Every parent has concerns about how they will pass on their assets to their loved ones in the future but there are many more complications when you have a child who is struggling with mental illness or with addiction issues. Many parents who find themselves in this situation may feel overwhelmed by the process… Read More »
Estate Planning Item Often Overlooked: Having ‘The Talk’ With Offspring
Inheritance noteEstate planning is rife with difficult decisions, including one that not many people might think of going into the process: What, and when, to tell the children? This can turn out to be one of the most difficult, according to an article on the website for Lifecare Innovations, a 21-year-old firm that helps… Read More »
Divorce Should Trigger Automatic Estate Update
Divorce is often the most major disruption people will experience in their lives. It need not also disrupt things after their deaths. “If you have just gotten divorced, you may be focused on getting on with your life,” notes a recent story in The Wall Street Journal by Liz Moyer. “But make sure you… Read More »
Parents, Children Need To Have That Other ‘Talk’
When it comes to parent-child relationships, “the talk” isn’t only from mom and dad to their offspring, and it doesn’t only deal with the facts of life. As noted in an article by Jane Bryant Quinn in the January AARP Bulletin, an important communication among family members involves financial matters. “What should you tell… Read More »
Estate Planning Increasingly Involves Charity Decisions
How to distribute one’s estate, never an easy decision and one with which people wrestle a great deal, becomes all the more complicated for those who don’t have children, stepchildren, grandchildren or other family members who might otherwise normally be in the mix. (Photo credit: Tax Credits)A recent item in The New York Times… Read More »
The Heart, As Well As The Head, Plays Role In Estate Decisions
Good estate planning goes behind the numbers to take the individuals involved into account. When it comes to giving gifts to family and loved ones through a will or while still alive, there are tax implications to be taken into consideration, but a host of other factors come into play, as well. A recent… Read More »