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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Nobody wants to lose their financial stability after their marriage fails. Reliable financial income is crucial to overall peace of mind and personal well-being. The transition from marriage to divorce is not always easy when large financial shifts are made, especially when you have the most to lose. One of the greatest mistakes people make when it comes to protecting…[...]

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Business succession planning gets complicated when you have multiple children. Who wants to be involved? Who deserves it? What is best for your company? What is best for your family? These are just a few of the questions you have to ask yourself. One other thing you may want to consider is birth order. Many experts believe that it plays a role…[...]

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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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