When you’re doing your estate planning, one important item to think about is at what age your children should receive the money and property you’ve left to them. Once a child becomes a legal adult at the age of 18, you could give them all of their inheritance, no strings attached. But most parents want […] The post When to Give Your Children Their Inheritance: 4 Factors to Consider appeared first on The Heritage Law Blog .
If you leave money or assets to a child under the age of 18 in a will but have not named a guardian for the property, the court will appoint one. The court will then provide strict oversight of the guardian to make sure that the inheritance is used for the best interests of the […] The post What You Should Know About Massachusetts Inheritance Law for Minors 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 .
As hard as it is for all of us to “plan” for our deaths, doing so is one of the best things you can do for your family. Adding to […]
Rock musician Sting recently announced that his children will not inherit his estimated $300 million fortune, saying that these riches are “albatrosses around their necks.” The product of a British […]
Estate planning is more than just setting up an efficient plan for transferring assets and reducing taxes. It can also be an opportunity to impart values and ideals to those […]
Most successful business owners have spent years building their business into a profitable enterprise. However, as retirement approaches they are often discouraged to find that selling their business will have […]
Often clients tell me they’ve heard their friends or relatives talk about incorporating trusts into their estate plans but aren’t entirely clear how or why they should do the same.
There are several ways that you can take control over how your personal possessions are distributed to your loved ones either as part of your estate plan or outside of
Putting assets into a trust can assist in long-term care planning, protect them from creditors after you die, reduce estate taxes and allow for greater flexibility in how assets are