From: wsj.com
Many have useful tips for gentle persuasion while others spell out a more direct approach
Want to talk about plans for when you die?
(Silence)
I guess not.
That exchange, unfortunately, describes how many adult children and their parents approach—or, rather, fail to approach—the subject of estate planning. Few families, of course, enjoy talking about money. Introduce the idea…
From: www.wealthmanagement.com
The end and beginning of each year is always a challenge for trustees. Usually state-regulated trustees will complete administrative reviews to ensure trustees are meeting all their fiduciary duties. It is also a time for trustees to ensure the asset allocation and rebalancing of trust investment portfolios comply with the Prudent Investor fiduciary rules. This can be an ordeal and…
From: www.aaepa.com
In the past, trusts often were drafted with little flexibility. Now, more and more, trusts tend to be drafted with increased flexibility and there are even ways to change trusts which have become “irrevocable.” There are several ways to modify a trust, including by a Trust Protector, by a procedure under the state’s version of the Uniform Trust Code, by decanting under…
By Robert C. Merton | Harvard Business Review
Corporate America really started to take notice of pensions in the wake of the dot-com crash, in 2000. Interest rates and stock prices both plummeted, which meant that the value of pension liabilities rose while the value of the assets held to meet them fell. A number of major firms in weak industries, notably steel and airlines, went bankrupt in large…
From: Indiana University Foundation
The Indiana University Foundation has put together an estate planning guide coursebook and record book as resources for retirement planning.
To access the estate planning coursebook click here.
To access the estate planning record book click here.
Go to page: Estate planning: 4 things to know
From: REAP, LLC. | Retirement & Estate Advisors & Professionals
Few of us enjoy thinking about life’s worst-case scenarios, but taking the time to put an estate plan in place can make things much easier for you and your loved ones if the unexpected happens.
Unfortunately, misconceptions about estate planning can make the process of creating a plan more confusing than it needs to be.
Here are…
From: www.foxbusiness.com
Monica wants to rest her tired, swollen feet. The 86-year-old retiree walks slowly to her old loveseat and sits down carefully. The purple paisley-patterned furniture has provided her with comfort for many decades. The loveseat is in fair condition but is showing its age. Once a part of a luxurious three-piece living room set; cardboard panels have since been placed under the seat cushions…
From: www.wealthmanagement.com
Appreciating their mistakes can help you better serve your clients.
Celebrities often do a great job accumulating wealth during their lives only to allow it all to slip away after their deaths with improper (or none at all) estate planning.
Though there’s an undeniable element of schadenfreude that makes these disaster stories ghoulishly enjoyable, there are also important lessons to be learned. The problems experienced by celebrity…
From: smartasset.com
This is how to make sure your savings lasts the longest.
If you’re planning to retire within the next few years, you’ve undoubtedly considered when you should start making withdrawals from your retirement accounts.
However, the order in which you withdraw from your accounts is also important — it could let your tax-advantaged accounts grow to their full potential,
From: www.aaepa.com
Trusts can be very useful vehicles to control assets during life and after death. During life, they can be especially helpful to control assets during periods of disability. After death, a trust can provide asset protection, remarriage protection, asset management, and many other benefits which might not be available otherwise.
Generally, trusts are income taxed in two different ways, as “grantor” trusts or “nongrantor” trusts. A grantor…
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