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What Do The Uber-Wealthy Do with Their Money?
November 12th, 2015
Art makes up 2.5 percent of the biggest estates and just 0.6 percent of those who had between $10 million and $20 million. A Picasso fetched more than $95 million in 2006. The superrich are different from the very, very rich. For one thing, they own…
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Categories: Aging Issues, Charitable Giving, Current Affairs, Estate Planning, Power of Attorney, Trust Funding, Weblogs, Will
Irrevocable Trusts May be the Answer to Tough Estate Planning Issues
November 5th, 2015
The death of a loved one can create a lot of financial complexity. For families that have set up irrevocable trusts to facilitate the transfer of assets from one generation to another, the tax implications can be even more complicated. However, there…
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Categories: Aging Issues, Current Affairs, Estate Planning, Succession, Trust Funding, Weblogs, Will
Easy to Explain Estate Taxes? Not Exactly
October 30th, 2015
Seems like the subject of estate taxes becomes part of every politician's election promises, and today's election environment is no different. Even though we are not really expecting significant changes in that area, estate taxes have chang…
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Categories: Aging Issues, Current Affairs, Estate Planning, Long Term Care, Medicaid, Power of Attorney, Taxes, Trust Funding, Weblogs
Want to Spare Your Kids From a Family Fortune?
October 13th, 2015
From shirtsleeves to shirtsleeves in three generations, goes the early 20th-century American proverb. Then there's the 19th-century British version: Clogs to clogs in three generations. And from Italy, date uncertain: From the stable to the star…
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Which Type of Trust is Right for Me?
September 21st, 2015
Trusts can be a great way to update an estate plan, whether within a will or as a separate estate-planning tool. Trusts have a reputation for being something that most people don't have to worry about, with most seeing a trust as a vehicle for t…
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Tags: Asset Protection, Credit Shelter Trust, estate planning, Estate Planning Lawyer, Estate Tax, Family Trust, Inheritance, Irrevocable Trust, Living Trust, probate, Probate Attorney, Probate Court, Qualified Personal Residence Trust (QPRT), Qualified Terminable Interest Property (QTIP), Revocable Trust, Special Needs Trust, Tax Planning, Testamentary Trust, Trusts, Trusts and Estates
Special-Purpose Trusts for the Mentally Ill and Those Suffering from Addiction
September 10th, 2015
It was the summer between her sophomore and junior year at the University of Wisconsin-Madison when Patti Sacher’s daughter Keisha had a breakdown. She had taken LSD at a Grateful Dead concert one weekend in 1989. When Mrs. Sacher called to check o…
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How to Care for Your Pet … After You Pass Away
September 3rd, 2015
We love our pets. Nearly two-thirds of all Americans have a pet, and among those who do, nearly 70% have a dog; 50% have a cat; 11% have fish; 8% have birds; and 7% have horses, rodents or reptiles. Nearly 90% of all pet owners consider their pets to…
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Are Trusts a Good Idea?
August 27th, 2015
To some estate planning attorneys, trusts are the default option. Their wealthy clients generally pass assets to heirs that way. Trusts can keep inherited wealth safe; assets left outright to individuals may be vulnerable to estate tax and divorce an…
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Basic Estate Planning Mistakes You Can Stop Making
August 24th, 2015
Estate planning tends to get pushed to the back burner, as more pressing financial tasks take center stage. But neglecting estate planning is a huge mistake. Estate planning may involve hiring an attorney or financial advisor, but plenty of people ma…
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Estate Planning Lessons in the Death of Whitney Houston’s Daughter
August 14th, 2015
Bobbi Kristina Brown’s tragic death offers a number of poignant end-of-life lessons for parents, young adults, and seniors alike. First and foremost, health and legal experts say Brown’s death spotlights the need for establishing written advance…
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Categories: Aging Issues, Blended Families, Current Affairs, Estate Planning, Long Term Care, Power of Attorney, Probate, Television, Will