Some sobering thoughts from experiences of “unlucky” stars.
Posts Categorized: Asset Preservation
“Be Giving While You’re Living so You’re Knowing Where it’s Going”
Here is a way to test drive your estate plan while you can still tweak it.
What happens to our digital property after we die?
Estate planning in the digital world can raise some interesting issues.
Facebook Founders Find Estate Planning Fix
Mark Zuckerberg and Dustin Moskovitz, the co-founders of Facebook and two of the world’s youngest billionaires, may seem too young to be thinking about estate planning. But in 2008, when they were both 24, they used an estate planning tool that is more familiar to people two or three times their age.
ANSWERS TO FREQUENTLY ASKED QUESTIONS ABOUT ESTATE PLANNING
This article answers some of the most frequently asked questions about estate planning.
Asset Preservation Requires Proper Planning
Many people faced with mounting pressure from creditors are looking for ways to protect their assets. Once you are in financial trouble, it may be too late. Proper asset preservation planning must be done and implemented before the storm clouds gather.
How to Deal the Family Vacation Home in Your Estate Plan
Is there a way to hand off a vacation home to the next generation so that everyone still wants to spend time together there? Tensions often mount when a family figures out what to do with a property that could be a lightning rod for sibling rivalries—not to mention a sizable chunk of an estate. Here is some wisdom on the subject from the Wall Street Journal.
Study Shows Inherited Wealth Is Squandered
70% of intergenerational wealth transfers fail, according to research conducted on over 3,250 families who transferred wealth.
A New and Powerful Estate Planning Tool: the Hawaii Asset Preservation Trust
Our legislature has created a new and effective tool for addressing creditor protection concerns. It’s not for everybody, but it can be a very formidable defense against financial losses resulting from unexpected liabilities.
The Perils of Joint Tenancy
While joint tenancy is not necessarily to be avoided at all times and at all costs, it is very important to understand its ramifications. He (or she) who puts other people on title to assets for probate avoidance/estate planning purposes may be making a huge mistake. Joint tenancy costs very little at the front end, but it exposes your back end to some very unpleasant possibilities.