Estate planning often involves combining numerous important goals into one overall plan. The primary goal, of course, of your estate plan should be to ensure that your loved ones are protected and provided for in the event of your death or incapacity. Even the most basic estate plan attempts to accomplish this objective by gifting assets to loved ones in a Last Will and Testament. The best of intentions, however, may fall short of the goal if you estate doesn’t have enough liquidity when the … [Read more...] about How to Know If Your Estate Has Enough Liquidity
Famous Estates – Legacy Champ or Chump?
Charles “Mask” Lewis Jr. (1963-2009) - Businessman Charles Lewis was a businessman, promoter, and entertainer. Known by his nickname "Mask,” because of stripes of face paint he frequently used, Lewis founded the TapouT clothing line in 1997, which eventually became a multi-million-dollar clothing company. Lewis and his two friends began the company by selling mixed martial arts apparel from the back of their Mustang. In 2007, the company of $22.5 million in revenue, with a 2009 target of … [Read more...] about Famous Estates – Legacy Champ or Chump?
Thought for the Day:
“Peace begins with a smile.” Mother Teresa … [Read more...] about Thought for the Day:
What Are the Drawbacks of Probate?
Creating a comprehensive estate plan typically involves goals that reach beyond the simple division of your assets upon your death. Probate avoidance, for example, is a common goal of estate planning. Understanding the drawbacks of probate will help you understand why you may wish to include probate avoidance in your estate plan. Probate is the legal process that follows an individual's death. The purpose of probate is twofold-to account for and value the decedents estate property and to … [Read more...] about What Are the Drawbacks of Probate?
Famous Estates – Legacy Champ or Chump?
Archer Miller Huntington (1870-1955) - Philanthropist & Author Archer Huntington was the son of Arabella Huntington and the stepson of railroad magnate and industrialist Collis P. Huntington. He was educated by private tutors and later traveled and studied in Spain, where he collected a number of rare manuscripts, books, and some works of art. Huntington was also an accomplished author, focusing on poetry and the translation of Spanish texts. He was the recipient of the Order del … [Read more...] about Famous Estates – Legacy Champ or Chump?
Thought for the Day:
“You can either change yourself or allow the circumstance to change you. The choice is yours.” Lailah Gifty Akita … [Read more...] about Thought for the Day:
How Can I Make Changes to My Trust?
Trusts were once used primarily by wealthy families who wished to pass down the family wealth from one generation to another while still retaining some degree of control over the assets. Today, however, trusts are a common addition to any comprehensive estate plan. If you have included a trust (or several) in your estate plan and now wish to change or amend your trust you may be concerned that making changes to your trust is a complicated undertaking. In most cases, this is not so. First, it is … [Read more...] about How Can I Make Changes to My Trust?
Thought for the Day:
“Optimistic people bring a sense of hope into world. Encouraging people bring a new meaning to life. They help you see past the clouds on a glooming day. They bring sunlight everyday” Stacey Chillemi … [Read more...] about Thought for the Day:
What Is a Certified Elder Law Attorney?
If you find yourself in need of the services of an elder law attorney you are likely trying to figure out how to choose the right attorney for your needs. Choosing an attorney can be a difficult and time-consuming undertaking for even a simple legal problem. Issues relating to the elderly, however, are rarely simple and often require the services of an attorney who specializes in elder law. How do you know though that an attorney specializes in elder law? One indication is that the attorney … [Read more...] about What Is a Certified Elder Law Attorney?
What Is a Self-Proving Will?
For most people, the foundation of an estate plan is their Last Will and Testament. Whether you plan to add additional components to your estate plan in the future or not, you should at least have a Will in place to protect you, your assets, and your loved ones in the event of your death. If you have never executed a Will before you may have a number of questions about the process of drafting and signing your Will. For example, you may wonder “ What is a self-proving Will? ” To understand what a … [Read more...] about What Is a Self-Proving Will?
