There’s this lingering myth of “old money families” where wealth is easily passed from generation to generation. But studies have shown wealth attrition to be more common, as bad investment decisions, mismanagement and dilution of assets between heirs eats into the family fortune. Overcoming the challenges that plague wealth stewardship comes down to two core elements – […]

By John Jurgensen Feb. 25, 2021 My mother was the reason I initially resisted “The Father.” The new film stars Anthony Hopkins as a man struggling against the effects of dementia. That synopsis was enough to trip my avoidance instinct, despite the time that has passed since my mom’s death, on Feb. 18, 2017, at […]

Women who have significant assets set aside in investments should be prepared to accomplish both estate planning and asset protection planning together. A recent advisor authority study found that as the pandemic has raged throughout 2020 and 2021, many women investors have become more concerned about the state of their finances and are worried about […]

Retirement plans often make up a significant portion of the assets of parents of children with special needs, or of individuals who have become disabled as adults.  In such cases, the question arises as to whether the retirement plan can be put into a special needs trust. The answer, as with many legal questions, is […]

Many people avoid the process of estate planning because they either assume they don’t need it or that it’s not affordable for them.  Plenty of people are under the impression that estate planning is only for the wealthy but this is definitely not the truth as every individual family and business owner can benefit from […]

If you have multiple children that you intend to be beneficiaries of or executors in your estate, be careful about trying to apply things equally rather than fairly. Having multiple children and leaving them each behind a stake in the house can cause more conflicts than you ever intended. Imagine, for example, that you have […]

Long-term care involves not only a loss of personal autonomy; it also comes at a tremendous financial price. Proper planning can help your family prepare for the financial toll and protect assets for future generations.  Long-term care can be very expensive, especially around-the-clock nursing home care. Most people end up paying for nursing home care […]

If a loved one, such as a sibling or a parent passes away and you are beneficiary of that estate, it is natural to have plenty of questions about how various estate actions can impact you. An executor will need to be appointed to manage the administration of the estate. The executor plays numerous different […]

Most people are familiar with the basic idea behind a will. A will allows you to accomplish a couple of different things with your estate planning strategy. Some of the most important ones include the ability to name a guardian for your minor child and to decide who will receive your assets when you pass […]

Probate has different processes in every state depending on where your loved one lived at the time they passed away. But it generally refers to the legal system through which that person’s individually owned property is passed on after their death. There are many different reasons and options available to avoid probate.Here are the easiest […]