Most people think estate planning is an old person’s game. Once you hit your 60s or 70s, that’s when you organize your affairs–right? Wrong. Please do not wait until you’re in your twilight years to plan your estate! The unfortunate reality is that we never know the exact time of our demise or incapacitation. Having…
By Rod Hatley, J.D., LL.M. When I meet with prospective clients, I invariably tell them that my path to becoming a tax and estate planning attorney began with a 7-year probate. My father, who had been a successful business owner, had been ill with leukemia for a few years. At the time, I was on…
By Amanda Dunn For many collectors, their interest in acquiring art is a passion. People spend their entire lifetime building their collection, and it can make up a substantial part of their net worth. But, unlike the thoughtful planning that is often intrinsic to other assets, the majority of collectors have not crafted a plan…
By Eric Dunavant It’s hard to believe how fast time flies. This year will mark my 20th year in the financial/legacy business, but many days it feels like it was just yesterday that I started. That’s the funny thing about life. Speak to anyone who is older, and they will always tell you life goes much…
By Tom Deans, Ph.D. Time: Deciding to hold a family meeting to discuss and design a transparent estate plan with close family members could consume an entire morning of your life – that’s three hours of your life that you will never get back. Play a round of golf instead. Over-rated: Family meetings are over-rated especially when attended…
By Steve Marken The general story is all too tragically familiar. The last statement and legacy of our loved ones is often found within the context of legal documents, defined largely by legal standards which have little meaning or comprehension to those left behind. The result can be disastrous. A true story … Father has passed….
By James F. Thomas, Jr. and Kelly Nilsson Best laid plans don’t always work When her spouse Gary died at age 54 from a terminal illness, though grieving, Barbara felt financially secure. Before he passed away, they established a trust to assure Barbara would have the resources to run the business they had built together…
Laura Roser’s Interview with Beginners Guide to Purposeful Prenups co-author, Emily Bouchard LR: Do you believe prenups drive an unnecessary wedge between the couple getting married? EB: I can say without a doubt that how a prenup is initiated and negotiated can either strengthen a marriage and family relationships or can destroy them. Since 2004,…
Consensus, Not Fiat, in Family Governance By Daniel Slone Thomas Rogerson’s approach to preserving family wealth is as much about trust and communication as investment and tax planning. In the popular consciousness, inherited wealth is probably linked most closely to the Paris Hiltons of the world — the spoiled child who never worked for anything,…
Michael Stuart’s estate planning practice focuses on issues far more meaningful than wills, trusts, and tax planning. By Daniel Slone Michael Stuart is an attorney, but he is quick to argue that his profession has trained its clients too well. “They think that lawyers draft documents, financial planners build wealth, and CPAs deal with taxes. The…
