Asset Protection: Smart Strategies for Estate Planning
Careful estate planning that utilizes trusts and other tools ensures your assets are protected and passed according to your wishes. Estate planning requires thinking through what will happen to your assets once you’re gone. Without proper planning, your assets may not be protected, and your beneficiaries could have to deal with credits, mismanagement, or even lawsuits regarding your estate. Prioritize preserving your assets for future generations with nuanced estate planning strategies. This...
Family Wealth Education: Preparing the Next Generation for Financial Responsibility
By Sharlee L. Cretors, MBA, CFP® Instilling financial literacy in your children early is important for multigenerational wealth management. Learn actionable strategies for success. Preserving and growing multigenerational wealth is a big responsibility. Parents have to ensure that they’re not only explaining money to their kids but also educating the next generation on personal, ethical, and financial values and what these responsibilities entail. In this overview, I’ll provide key considerations and actionable strategies...
Ensuring Your Health Care Wishes: Estate Planning Essentials
Creating advance directives, including a living will and a medical power of attorney, will ensure your healthcare preferences are followed later in life. Estate planning comprises several different areas, from estate taxes to legal documents to trusts and wills. However, one important area you can’t ignore is healthcare. You never know what the future will bring as far as medical needs and associated costs. Preparing now will make it easier for you...
Your Guide to Drafting a Will
A will is a foundational component of estate planning. Discover key elements to include and how to designate an executor. When you’re starting the estate planning process, one of the first and most important steps you’ll take is creating a will. Many of us put off will creation because it sounds daunting, and we don’t want to consider the unpleasant thought of what will happen when we’re gone. But, drafting a will...