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estate planning Tag

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13 Sep Aretha Franklin didn’t have a will. What can we learn?

Aretha Franklin had a net worth of $80 million at the time of her death. Yet despite her fame, wealth, and lawyer’s attempts, she left no will or trust. She was divorced with four grown children, one who has special needs. What are the consequences of leaving no will or trust for your loved ones? If we look at Franklin’s case, it could mean that her four children won’t receive the inheritances as she wished, family squabbles over who feels entitled to what may delay payments, her estate could receive a large tax bill, it will have to address royalties and copyrights,...

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28 Mar Top 8 estate planning mistakes

Top 8 Estate Planning Mistakes   Perhaps you have heard the expression: “If you fail to plan then you plan to fail.” This statement was never truer than for estate planning. By some accounts, 70% of adult Americans have no will or trust in place for their loves ones. Furthermore, others who initially did prepare an estate plan have failed to update it in light of changing circumstances in their lives. You can benefit from avoiding the 8 most common estate planning mistakes that I have seen people make. 1. FAILURE TO PRESERVE YOUR INHERITANCE FOR YOUR GRANDCHILDREN SHOULD YOUR SON/DAUGHTER DIE AND THEIR SURVIVING SPOUSE...

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