Passing your estate to an heir with credit problems or a gambling or alcohol addiction might not only lead to that wealth being squandered, but the inheritance could worsen the destructive behaviors. Of course, you don’t want to disinherit your child simply because of their personal challenges. There are potential solutions that allow parents to […]

U.S. Supreme Court Justice Warren Burger is famous for more than just his time on the bench. When he died in 1995, he left a 176-word will that gave no specific power to his executors.1 As a result, he reportedly cost his estate tens of thousands of dollars in attorney’s fees. Judge Burger’s case shows that […]

If you are one of the many Americans who are in a second marriage, you may need to revisit your estate strategy.1 Unlike a typical first marriage, second marriages often require special consideration in order to address children from a prior marriage and the disposition of assets accumulated prior to the second marriage. Second Marriages […]

American actor Lee Marvin once said, “As soon as people see my face on a movie screen, they knew two things: first, I’m not going to get the girl, and second, I’ll get a cheap funeral before the picture is over.”1 Most people don’t spend too much time thinking about their own funeral, and yet […]

Many of us hope to leave something behind for our loved ones when we pass away. But the probate process is complex. To understand how to better manage potential probate fees, let’s explore what probate is and how the process works. What Is Probate? Probate is the legal process that wraps up a person’s legal […]

According to the Conway Center for Family Business, family businesses account for 64% of the U.S. Gross Domestic Product (GDP), yet 57% of family businesses have no formal succession plan.1 While the number may shock you, it is not surprising that many small business owners are consumed by the myriad responsibilities of running their businesses. Nevertheless, […]

According to the most recent report by Giving USA, Americans gave a record breaking $471 billion to charity in 2020.1 Americans usually give to charity for two main reasons: to support a cause or organization they care about, or to leave a legacy through their support. When giving to charitable organizations, some people elect to […]

You’re young, have little in savings, and might not have anyone relying on you, financially. So, why do you need to think about estate management?1Here are four great reasons: Estate Strategies: They’re Not Just for the Elderly A medical directive and health care durable power of attorney can ensure that you are provided the level […]

Test Your Estate Strategy Knowledge How well do you know the fundamentals of estate management? Take our short quiz and see. Probate is defined as… The difference between the probate estate and the gross estate is…? A living will… What does “income in respect of a decedent” mean? Select the two primary ways to avoid […]