When Whitney Houston died last month at the age of 49, she left behind a last Will and testament that dictated that her entire estate would be inherited by her only daughter, Bobbi Kristina Brown, age 19. While the details of Ms. Houston's Will are quite common and do not appear to contain any strange or potentially problem causing terms, we can look at her Will as an example of what you can do when creating your own. Here are three issues you may wish to consider when creating your own last … [Read more...] about Whitney’s Will – 3 Instructional Issues You Can Use When Creating Your Own Will
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Practical Inheritances – Why Less Can Be More
If you have an estate that will allow you to leave substantial amount of inheritance to your children or other family members, you may want to think twice before you decide to give the entire amount to them. Those who inherit large sums of money often face challenges that are rarely spoken about, yet no less difficult. Here are a few reasons why a sudden large inheritance can leave your children unhappy and unfulfilled. Concern 1. Bankruptcy. It's estimated that more than 70% of NBA players … [Read more...] about Practical Inheritances – Why Less Can Be More
Art and Estate Planning – 3 Issues
Art collections can prove to be a difficult piece of your estate plan, especially if you've acquired a collection that has appreciated significantly. For some people with significant collections, their art can make up a large portion of the value of their estates, with the art continuing to increase in value even as other assets stagnate. If you have an art collection of significant value, there are several issues you need to be aware of as you develop your estate plan. Issue 1: Estate taxes … [Read more...] about Art and Estate Planning – 3 Issues
Picking A Charity When Estate Planning
For many people, the idea of leaving a beloved charity or nonprofit organization a gift as part of your estate plan is essential. If you want to do this, it is important that you and your estate planning attorney sit down and discuss not only how much you wish to give, but also the charity to whom you wish to leave your gift. Here's a simple process you can go through to help you identify and choose a good charity. Step 1: Make a list. Start your charitable donation search by creating a list … [Read more...] about Picking A Charity When Estate Planning
With More Baby Boomers Retiring, Retirement Homes Are Out of Style
The estimated 10,000 baby boomers that will reach the age of 65 on each and every day between the years of 2011 and 2030 are making it more and more apparent that the traditional idea of what a retirement home should be is no longer adequate. Any baby boomer making an estate plan should consider several key topics and issues that you will want to account for if you are considering an assisted living community as part of your plan. Issue 1. Lifestyle. For healthy and active baby boomers, the … [Read more...] about With More Baby Boomers Retiring, Retirement Homes Are Out of Style
