Dean G. Witter (1887-1969) - Businessman Dean Witter was a U.S. businessman who co-founded Dean Witter & Company, which became the largest investment house on the West Coast. In 1914, Witter partnered with Charles Blyth to found Blyth, Witter & Co., a San Francisco based brokerage. In 1924, Witter left the partnership to form his own company, Dean Witter & Company, with his brother Guy. In its early years, Witter focused on dealing in municipal and corporate bonds. The company was highly … [Read more...] about Famous Estates – Legacy Champ or Chump?
Thought for the Day:
“The things you do for yourself are gone when you are gone, but the things you do for others remain as your legacy.” Kalu Ndukwe Kalu … [Read more...] about Thought for the Day:
Charitable Lead vs. Charitable Remainder Trust
Estate planning typically entails the integration of numerous goals into one comprehensive plan. For example, providing for loved ones and gifting to charity can be accomplished in one trust by creating a charitable lead or charitable remainder trust. Charitable lead and remainder trusts are estate-planning tools that have similar effects while using procedures that are nearly opposite. One creates a trust that provides a charitable beneficiary with income for a specific time period, with the … [Read more...] about Charitable Lead vs. Charitable Remainder Trust
Famous Estates – Legacy Champ or Chump?
Frank O’Dea is a Canadian entrepreneur, humanitarian, author, and public speaker. O’Dea’s adolescence and young adulthood were filled with many hardships, being homeless and having to panhandle until he was able to live in 50-cent-a-night flop houses in Toronto’s bowery district where simply surviving was a challenge. After many years of struggling, and an abundant amount of hope and perseverance, O’Dea was able to overcome the impediments in his life, and, in 1975, he co-founded The Second … [Read more...] about Famous Estates – Legacy Champ or Chump?
Incapacity Planning – 5 Important Reasons Why You Need an Incapacity Plan
Estate planning is something the many people put off. In fact, surveys show that less than half of all Americans have an estate plan in place. Even fewer have a comprehensive estate plan that includes an incapacity plan. People put off creating an estate plan for a variety of reasons. Many of those same reasons are given when asked why an individual does not have an incapacity plan in place. At the top of the list of explanations are “I don’t need one”, “I don’t want to dwell on my … [Read more...] about Incapacity Planning – 5 Important Reasons Why You Need an Incapacity Plan
Alternatives for Property Management upon Incapacity
When incapacity strikes it can cause a number of practical problems in addition to the emotional toll it takes on family and loved ones. If the incapacitated individual failed to create an incapacity plan, deciding how to manage property and acquiring the legal authority to do so can be complicated and time consuming. Understanding what options you have for property management upon incapacity is a good place to start if you suddenly find yourself in this position. When most people think of … [Read more...] about Alternatives for Property Management upon Incapacity
Famous Estates – Legacy Champ or Chump?
Nora Ephron (1941-2012) - Producer & Screenwriter Nora Ephron was an American journalist, essayist, playwright, screenwriter, novelist, producer, director, and blogger. A talented writer and director, Ephron is known for her successful romantic comedies, such as When Harry Met Sally (1989) and Sleepless in Seattle (1993). The daughter of writers, she grew up in Los Angeles, and went east to go to school at Wellesley College in Massachusetts. Gifted with a sharp wit, Ephron first made her … [Read more...] about Famous Estates – Legacy Champ or Chump?
Who Should I Appoint as the Trustee of My Living Trust?
A Last Will and Testament usually serves as the foundation of a comprehensive estate plan. For most people, however, a Will is just the beginning of an estate plan. People often choose to add additional documents and estate planning tools to help achieve a multitude of goals and objectives. Though once used primarily by wealthy families as a method to pass down the family fortune, trusts have become an increasingly popular addition to estate plans for people from all walks of life. If you decide … [Read more...] about Who Should I Appoint as the Trustee of My Living Trust?
Joint Tenancy with a Child and Your Estate Plan – Is It the Best Option?
Creating a comprehensive estate plan usually involves combining a wide variety of strategies and legal tools to reach an equally wide variety of goals and objectives. One of the most common goals of estate planning is the transfer of real property upon death. Accomplishing the transfer is as little time as possible and without the need for the property to go through probate are usually the goals. People often put an adult child on the title to a home in an effort to accomplish these goals. While … [Read more...] about Joint Tenancy with a Child and Your Estate Plan – Is It the Best Option?
Free Report: Including the Family Pet in Your Estate Plan
For most people the primary goals of an estate plan are to provide the framework for the division of estate assets upon death and to provide for family members and loved ones upon death. If you have a pet (or two) that you treat as part of the family, has it occurred to you that your pet should be included in your estate plan? Legally, your pet is considered your property, meaning your pet should be included in the division of your estate assets. For most people estate planning is about … [Read more...] about Free Report: Including the Family Pet in Your Estate Plan
