The Williams Group conducted a 20-year study of high wealth families to review the transfer of wealth from one generation to the next. The study found 70 percent of families lost their wealth by the second generation and 90 percent by the third. Surprisingly, the...
An opportunity to save money is a huge motivator to make a purchase, and it should also prompt you to action to safeguard your estate. Without a legally binding estate plan including incapacity planning, you're leaving your assets open to a long and expensive...
Owning a small business is an emotional experience. The blood, sweat and tears you put into keeping your company afloat over an entire career create a bond that can make letting go difficult. If you are looking to pass on the business to the next generation, there are...
Being named the trustee of a loved one's estate is an enormous responsibility and an incredible honor. When asked, you were happy to oblige, agreeing to follow their wishes without hesitation. You signed on the dotted line and felt a sense of pride, because you knew...
Many people, when they hear the term "estate plan," think of a will or a trust designed to pass assets down to your loved ones after you're gone. This is indeed a vital part of what estate planning does, but modern-day estate plans are much more comprehensive than "I...
Dear Trevor:My late wife and I purchased a home together in 2002 and went on title together as joint tenants. We each have adult children from previous marriages. Sadly, my wife passed away unexpectedly about three months ago and I recently went to talk to an estate...
