Creating and drafting an estate plan is not the easiest thing to do. There are, after all, a great number of things with which one must be concerned, and it’s quite easy to overlook some issues. Most often these issues are overlooked because they either do not address the tax code or they do address the tax code; either way, take a look at this list and see if you have overlooked some of these issues: The Estate Tax Don’t jump to the conclusion that your estate won’t qualify for the estate … [Read more...] about Have You Overlooked These Estate Planning Issues?
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Wealthy Parents Intend to Avoid It, but Rich Kids are Spoiled
A survey by PNC Wealth Management had some interesting results about how wealthy parents feel about the creation and maintenance of wealth when it comes to their own children, and those results may not be what you would expect. Of the millionaires that were surveyed, 75-percent had grown up in a more middle-class, financially average family, whereas the percentage who grew up in a rich family or a poor family was 12-percent for each; in other words, 87-percent had to work their way to … [Read more...] about Wealthy Parents Intend to Avoid It, but Rich Kids are Spoiled
What The Fiscal Cliff Agreement Does to Your Estate Plan
Even though the next big political conflict is probably just around the corner, Congress and the President managed to reach a deal over the fiscal cliff that has significant implications for anyone with an estate plan. Though you should speak to your attorney about the specific points of the deal and how they might affect you, here are some of the big highlights. Your children get $10.5 million tax-free. Under the terms of the agreement the estate and gift tax provisions imposed by the federal … [Read more...] about What The Fiscal Cliff Agreement Does to Your Estate Plan
Estate Planning and the Importance of Creating Succession Plans for Your Family Business
After working all of your life to create and expand your family business, it is unlikely that you are willing to relinquish control easily, or allow it to fail after you die. Nevertheless, there will come a time when you will need to relinquish control to the next generation. Before this happens, you will need to make the decision about whether you want your business to continue on after your death. If you do not wish it to continue, then you can stop reading; if you would like it to continue to … [Read more...] about Estate Planning and the Importance of Creating Succession Plans for Your Family Business
Are You a Caregiver or a Caretaker?
Spending time caring for elderly family members is becoming an increasingly common activity for many Americans. While providing such care is often something we do without thinking about it, it can sometimes be detrimental to our own health. In the world of elder care, it’s important to consider the difference between a caregiver and the caretaker. Though the terms are similar, a caregiver is someone who benefits from the task, while caretakers can see their own lives negatively … [Read more...] about Are You a Caregiver or a Caretaker?
