Concerns about inherited wealth can be found among many parents (wealthy and otherwise) who wrestle with whether or not bestowing wealth upon their children or grandchildren will be a blessing or a curse. It especially an issue for the ultra-wealthy. So in August 2010, Bill and Melinda Gates and Warren Buffet created the Giving Pledge […] The post Leaving a Legacy of Wealth and Values appeared first on The Heritage Law Blog .
Studies have found that 70% of the time, family assets decrease significantly from one generation to the next, and have disappeared completely 90% of the time by the third generation. Case in point, Cornelius Vanderbilt, the railroad and shipping scion of the 19th century, left his vast fortune of $100 million to his heirs when […] The post 5 Steps to Prepare Your Heirs for Their Inheritance appeared first on The Heritage Law Blog .
In this season of giving, we often think about how we’re giving back to the world we live in. You might donate here or there during the year when you remember to, but you could develop a well-thought-out charitable giving plan that would benefit the charities of your choice as well as your estate. Do […] The post Charitable Giving on Your Mind? appeared first on The Heritage Law Blog .
Back to school season is upon us! As we all prepare to get back into our routines it’s also a great time to be reminded of estate planning basics. The blog posts this month focus on just that. Getting back to basics so you can make estate planning part of our fall planning. Estate planning […] The post Estate Planning for the Young Adult: 7 Strategies to Start Today appeared first on The Heritage Law Blog .
There’s a great feeling of satisfaction that comes with giving. Being able to help your loved ones through major life events and financial transitions can be a very rewarding experience. Did you know that gifting not only helps your family while you are still alive but also helps shield you from estate tax? With […] The post Avoid Estate Tax and Preserve Your Family Legacy Through Gifts appeared first on The Heritage Law Blog .
When we think about estate planning, we usually think of how we manage tangible items and investments, but have you thought about protecting your digital assets? As our lives become more and more dependent on technology, it’s important to consider your digital assets when preparing an estate plan. What qualifies as digital property? Digital devices […] The post Estate Planning in the Digital Age appeared first on The Heritage Law Blog .
For many, charitable giving is a way of life. Whether it is to support an organization that has touched your life in a meaningful way, a school or university that put you on the road to success, or simply a cause that you feel passionate about, charitable giving not only offers emotional benefits, but practical […] The post Charitable Giving Through Estate Planning appeared first on The Heritage Law Blog .
David Bowie, the rock icon and fashion chameleon, passed away recently after a brief battle with cancer. Bowie, a personal favorite of mine, blessed us with a lengthy catalogue of classic albums while amassing a $100 million estate for his efforts. In addition to his vast wealth, Bowie left a wife, super-model Iman, and two […] The post David Bowie’s Legacy and Estate Planning for Kids appeared first on The Heritage Law Blog .
As outlined recently by Business Insider, even people who seem to have it all–famous and highly successful people–make New Year’s Resolutions. Interestingly, most of them focus not on how to make themselves better, but rather on how to help others. In fact, many of them focus on family and paying forward their good fortune. Why […] The post 2016: The Year of Your Estate Plan appeared first on The Heritage Law Blog .
Childless seniors are more likely to leave money and assets to charity after they die than any other group. If you fit into that category and are wondering what to do with your charitable planning, here are a THREE ways to give back: ESTABLISH A TRUST: a charity (or charities) can be the beneficiary of […] The post Options for Charitable Estate Planning appeared first on The Heritage Law Blog .