Estate planning involves, among other things, determining how to leave your money to your children. When you pass away, your wealth goes to them. You simply need to figure out the best way to do it. But what if the children need that money now? Giving it to them in advance could have a massive financial impact on your future,…[...]

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According to recent reports on the financial situation that American college students face, it’s not looking too good for them. They have in excess of $1 trillion in debt. While not all of that debt comes from student loans, they’re the main issue. It’s an astounding number. In a society where we tend to tell all children to go to…[...]

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While both men and women need to do proper estate planning, it is especially important for women because they tend to live longer than men. This means that the odds are higher that the last surviving spouse in an opposite-sex marriage is going to be the woman. Even if she simply gets her husband’s assets when he passes away, it…[...]

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The entire point of an irrevocable trust is to set the fund up so that it cannot be changed. This removes the money from your estate, with one of the benefits being that you can reduce the tax burden on that estate. By making it irrevocable, it shows that the money is really out of your control. That said, there…[...]

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