One way to transfer your family business to one of your children is simply to sell the company to them before you pass away. They take over ownership, and you don’t have to worry about suddenly handing them the company at the end of your life. There are benefits here, but you also want to consider some potential drawbacks. For…[...]

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Determining the best type of trust for your unique situation can be challenging if you do not understand all of your options. Different kinds of trusts serve different purposes and are appropriate under different circumstances. However, living trusts are a common kind of trust that people in a variety of situations can benefit from. A living trust is a kind…[...]

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It’s no secret that divorce has an impact on estate planning. When your marriage ends, you need to make sure your estate plan does not still leave assets to your ex. You need to update your life insurance beneficiary designation. You need to consider who will make end-of-life care decisions for you. And these are just a few examples. One…[...]

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Business succession planning gets complicated. If you leave a company to your children, are you making their career choices for them? What if they wanted to do something else with their lives? It’s a worry that many parents have, and it’s true that children often feel this pressure — even if their parents do not put it on them directly.…[...]

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People often understand the basic idea of using a trust in an estate plan. You put your assets into the trust, you write out instructions on how the trust should operate, and then the assets get used or distributed in accordance with those rules. A trust gives you control over your assets even when you are not around to make…[...]

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What type of end-of-life care do you really want? Now, everyone hopes that they will pass away peacefully, without complications, but that rarely happens. Planning for the medical care that you want at this time should be part of your estate planning as a whole. One thing you can do is to create a health care proxy, authorizing someone —…[...]

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You spend years building up your wealth. Maybe it takes decades. You put money and assets aside to pass on to your children. But how long is that really going to last? After you leave the money to your children, how fast do you think that they’re going to spend it? Though you might like to think of them spreading it…[...]

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Do you own your own company, and are you trying to figure out how to pass it on to the children when you pass away? Business succession planning is very important on many levels — for the company, the employees and your family. Therefore, it’s crucial to do it properly. One thing you need to consider is that your children…[...]

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As social trends continue to change, the typical age of a first-time mother keeps getting older. This can have a big impact on estate planning for those who have children later in life. Over the last two decades, per the Pew Research Center, the number of mothers who are at least 40 years old has tripled. Technically, reports claim this is for…[...]

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It seems like every generation should live a bit longer than the last, right? We invest so much time and money in technology, medicine and related fields. We understand the human body in ways people couldn’t fathom not that long ago. Many medical technologies that seemed like science fiction to our grandparents are now very real. However, the reality is…[...]

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