Estate planning is important, but many people don’t do it. Often, the reason is that they have heard some common myths and now they hold onto popular misconceptions about the process. It derails their planning and puts their family’s financial future in jeopardy. Whether you have done your estate planning yet or not — but especially if you have not — it…[...]

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When you think about estate planning, who do you think it should focus on the most? Do you think it’s for couples? Is it primarily for men? Is it a women’s issue? While all people, of all genders, do need to do their estate planning, some experts do refer to it as a serious women’s issue. Their reasoning is simple: Women…[...]

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If you’re planning to pass a small business on to your children, you cannot understate how important it is to have a good succession plan. It’s about more than just you or your heirs. It’s also about the employees and the economy as a whole. You could make the argument that nothing is more important to the economy than small…[...]

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For most people, estate planning just means leaving their assets to their children. When deciding who should make medical decisions for them and who should handle their financial affairs at the end of their lives, they also pick children. But what if you do not have any children? That makes these decisions more difficult, but you do still have options. For…[...]

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To make sure someone will take care of their children if they pass away, parents often pick guardians. They can do this as part of the estate planning process. The guardians only apply until the children are no longer minors, in most cases. If you’re thinking about doing this yourself, you may be mulling over who to choose. It can…[...]

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When doing estate planning with an heir who has special needs, you really need to take the time to carefully consider what can be most helpful to them when you are gone. Careful advance planning is the key. If you do it correctly, your assets can change their life, but you have to remember that this all falls on your…[...]

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As a new parent, your days are filled with changing diapers, making runs to the grocery store and finding time to catch up on your sleep. In between all of this, it’s critical to review your estate plan with the idea of making changes for the better. If you don’t yet have an estate plan, creating a will is the…[...]

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Looking to save on taxes on your estate? One option you may want to consider is selling your second home after you pass away. Real estate that you do not use as a primary residence likely is not exempt from the capital gains taxes. So, if you bought that house 20 years ago and the value has tripled in that time,…[...]

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With the cost of healthcare and long-term care in the United States, it may be natural to assume that wealthy individuals live longer than those with less access to financial means. But is this assumption true? Studies have shown that it is. Some early studies indicated that there was a fairly wide gap, but more recent studies have demonstrated that…[...]

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While thinking about business succession planning, you have probably come across some rather daunting statistics. For instance, a massive 70% of family businesses do not make it to the next generation. About 88% fail by the third and 97% fail by the fourth. Obviously, your goal is to stay out of these statistics. For your family, you want the company…[...]

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