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Estate Planning

All articles tagged with #estate planning

Seven Common Will Mistakes Estate Lawyers Urge You to Avoid
finance7 days ago

Seven Common Will Mistakes Estate Lawyers Urge You to Avoid

Estate lawyers warn that many people fail to plan properly: having multiple co-executors can spark conflict and cost; a will alone does not always avoid probate; vague bequests to sentimental items invite disputes; wills should be updated after life changes; gifts should be structured to truly help beneficiaries and avoid unintended consequences; and you must clearly designate where your will is and work with a qualified estate attorney to prevent disputes and expensive probate.

via HuffPost|
#estate-planning#executor#finance
Rethinking Wealth: 11 Expert Tips for Budgeting, Investing, and Early Retirement
personal-finance13 days ago

Rethinking Wealth: 11 Expert Tips for Budgeting, Investing, and Early Retirement

A diverse group of 11 finance experts argues that wealth-building goes beyond frugality: start investing now (even $1 in index funds), rethink homeownership, define what “enough” means to retire early, negotiate debt, avoid commission-based advisers and store cards, involve family in a child’s education savings, invest in mental wellness as a financial asset, and set up wills or trusts early—while acknowledging systemic barriers in capitalism and offering practical steps to gain financial independence.

via The Guardian|
#budget#estate-planning#investing
How to pick the right advisor for ultra‑wealthy families
business20 days ago

How to pick the right advisor for ultra‑wealthy families

Ultra-high-net-worth households (about 442,000 with $20M+ in investable assets, totaling roughly $22.5T) are a lucrative yet demanding client segment. They require advisers with expertise beyond portfolio management—covering tax, estate and trust planning, business advisory, philanthropy, and multi-generational family governance. Prospective clients should ask potential advisers about their experience with similar clients, the services offered, how they implement tax and estate planning, and their succession plan, aiming for a seamless, multi-generational partnership that can evolve over decades.

via CNBC|
#business#estate-planning#family-governance
Inheritance, Grief, and a Stepsister in Turmoil
advice1 month ago

Inheritance, Grief, and a Stepsister in Turmoil

After their father’s death, a volatile stepsister wreaks havoc—drama around memorials, moving belongings, and the will. Since stepchildren aren’t automatically entitled to an inheritance, the mother’s will and beneficiary designations (life insurance, retirement accounts) determine who gets what. The standout advice is to consult an estate attorney, protect the grieving mother, and prioritize your own mental health and your children’s needs, rather than trying to appease a difficult sibling.

via Slate Magazine|
#advice#estate-planning#family
Road to Inheritance: $570 Billion in Classic Cars Set to Change Hands
business1 month ago

Road to Inheritance: $570 Billion in Classic Cars Set to Change Hands

An estimated 12 million classic cars worth about $570 billion will pass to heirs over the next 15 years as part of the US’s broader wealth transfer, with Hagerty counting more than 43 million collectible cars and roughly $1 trillion in insurable value; while most transfers occur without tax issues, emotional attachment and high upkeep costs can lead to disputes and reshape how these historic vehicles are valued and handed down.

via Carscoops|
#business#classic-cars#collectible-cars
Rushed gifts backfire as permanent tax exemptions arrive
personal-finance2 months ago

Rushed gifts backfire as permanent tax exemptions arrive

Wealthy families who hurried to gift assets to lock in the temporarily higher gift exemption under the TCJA may regret the move now that Congress made those exemptions permanent. While unwinding irrevocable gifts is possible, it is usually difficult and costly; options like decanting, moving trusts to friendlier states, or using trust protectors can modify terms, but the core lesson is that the decision to give was not wrong, just driven by evolving tax rules.

via USA Today|
#estate-planning#gift-tax#irrevocable-trusts
Gen X Nears Retirement Without Wills or Trusts, Study Finds
business2 months ago

Gen X Nears Retirement Without Wills or Trusts, Study Finds

A 2026 Trust & Will report shows most Gen Xers haven’t prepared estate documents (62% lack a will or trust), with only 26% nationwide having a will and 14% a trust; overall 56% of adults have no estate planning documents. Delays are linked to procrastination, a shortage of estate‑planning attorneys, and a rise in online planning tools, with experts urging everyone to have at least a will.

via USA Today|
#business#estate-planning#gen-x
Cutting a Son Out of the Will Over Grandkids Is Cruel and Shortsighted
lifestyle3 months ago

Cutting a Son Out of the Will Over Grandkids Is Cruel and Shortsighted

A father seeks guidance after his wife wants to disinherit their son simply because the son doesn’t plan to have children. The column argues that punishing a child over a personal life choice is cruel and likely damaging, and suggests protecting the son’s interests in the will while addressing the wife’s grief. It explains that changing a will generally requires both spouses’ cooperation, recommends consulting an estate attorney, and urges a candid discussion with the wife about her motivations, with therapy (individual or couple) as a possible path to redirect her anger.

via Yahoo|
#estate-planning#family#inheritance
Giants Co-Owner Steve Tisch Moves Ownership to Heirs via Trusts
business4 months ago

Giants Co-Owner Steve Tisch Moves Ownership to Heirs via Trusts

Steve Tisch, the Giants’ co-owner, and his siblings Jonathan and Laurie Tisch, plan to transfer about 23.1% of their remaining Giants ownership into separate trusts for their children. After the transfers, the Sellers would no longer own any stake in the club, with the deal pending NFL Finance Committee approval. The move is described as part of long-running estate planning, not a change in roles, and follows prior transfers approved in 2023–2024. The CNN report notes Tisch’s past, non-criminal involvement with Jeffrey Epstein, which he says was limited and regretted.

via CNN|
#business#estate-planning#new-york-giants
Unmarried Couples Lack End-of-Life Recognition, Experts Say
business6 months ago

Unmarried Couples Lack End-of-Life Recognition, Experts Say

Unmarried couples lack automatic legal protections at death, making estate planning crucial for ensuring their partner inherits assets, as laws typically favor blood relatives. Key steps include establishing durable powers of attorney, updating beneficiary designations, and creating wills or trusts to secure the partner's financial and medical decision-making rights.

via CNBC|
#business#cohabitation#estate-planning
Reiner Family Tragedy and the 'Slayer Rule' in Inheritance Dispute
law6 months ago

Reiner Family Tragedy and the 'Slayer Rule' in Inheritance Dispute

The article discusses California's 'slayer rule,' which prevents individuals who commit murder from inheriting from their victims, in the context of the recent deaths of filmmaker Rob Reiner and his wife, where their son Nick Reiner has been accused of the murders. The rule's application depends on whether the killing was intentional and felonious, and it could significantly impact the inheritance outcomes for the Reiner family, though details are still uncertain as investigations continue.

via upi.com|
#estate-planning#inheritance#law
Reiner Family Tragedy: Inheritance, Memorials, and a Deceptive Scheme
law6 months ago

Reiner Family Tragedy: Inheritance, Memorials, and a Deceptive Scheme

The article explains the 'slayer rule,' which prevents killers from inheriting from their victims, and discusses its potential application in the case of Rob Reiner and his wife, who were murdered by their son Nick Reiner. It highlights how the rule works, its history, and its relevance to high-profile cases, while noting that the outcome for the Reiner estate remains uncertain pending legal proceedings and estate disclosures.

via The Conversation|
#estate-planning#inheritance#law
Warren Buffett Plans Major Philanthropic Shift and Supports Successor
business8 months ago

Warren Buffett Plans Major Philanthropic Shift and Supports Successor

Warren Buffett plans to accelerate giving away his $149 billion estate to his children's foundations before his successor Greg Abel takes over as CEO of Berkshire Hathaway, while maintaining confidence among shareholders. Buffett, 95, will continue to influence the company as chairman and will pass most of his wealth to his foundations, emphasizing his ongoing commitment to philanthropy and Berkshire's stability. He also shares personal updates on his health and reflects on Berkshire's resilience and future prospects.

via CNBC|
#berkshire-hathaway#business#estate-planning