For Love or Money?

From: wealthmanagement.com

Florida Appellate Court affirms finding of spousal undue influence

Statistically, undue influence is the most frequent legal basis for invalidating a will in Florida.1 Because an undue influencer usually exercises influence over the decedent behind closed doors, opponents of a will generally have little, if any, direct evidence available to establish that a will was procured by undue influence.

Realizing this, in 2002, the Florida legislature enacted Fla….

6 reasons why whole life is causing advisors (and clients) to take notice

From: lifehealthpro.com

Life insurance has been around for thousands of years. It is believed that the Romans originated the product to fund burials of military personnel who were members of a burial club.

Over time, the reasons for owning life insurance grew more complex, such as to meet estate planning or business planning needs, in addition to personal protection. Product…

Tom Clancy’s Widow Wins Opening Round of Estate Battle Without Remorse

From: wealthmanagement.com

Tom Clancy’s widow scored the first victory of what will surely be a drawn-out battle over who must bear the burden of paying taxes on the late author’s $86 million estate (most of which is derived from a 12 percent ownership stake in the Baltimore Orioles).

On Friday, Baltimore Judge Lewyn Scott Garrett ruled in favor of Alexandra Clancy…

Estate Planning for Your Digital Assets
Have you addressed this issue?

From: drlgroup.net

Social media and email accounts. Creative works, photos and keepsakes kept on home computers, the cloud or external storage drives. E-commerce accounts. Domain names. Bitcoin. These are all examples of digital assets. You will manage them closely as long as you live – but what will happen to them once you die?

Top 3 Estate Planning Must Haves

From: aaepa.com

Regardless of a family’s financial situation and assets, estate planning is an important matter that should be addressed ahead of time. While there is a common misconception that this is reserved only for the wealthy with a laundry list of assets, estate planning is applicable to a large number of people. In fact, an estate is the total of many commonly owned assets like…

Estate Planning an Essential Step for Every Retiree

From: thinkadvisor.com

Planning to pass on—it’s a touchy subject with many clients, but one that has to be addressed. A proper estate plan can maximize the assets a client’s heirs receive, and it can drastically reduce the hassles, heartaches and expenses inherent in the wealth transfer process. Despite the importance of estate planning, however, only about half of American parents have a living trust…

The Best of Both Worlds? `Linked’ policies tie life insurance to long-term care protection; A look at the pros and cons

By Glenn Ruffenach • 20 December 2004 • The Wall Street Journal

BUYING LONG-TERM care insurance is like going on a diet. You know it’s probably a good idea. But taking the actual step — whether it’s counting calories or paying hefty premiums each year for a policy you might not need for…

Do Powers of Attorney Need New Gifting Rules?

From: financial-planning.com

It is one of the most common of all legal documents: The power of attorney form, in which an individual appoints an agent to handle financial, legal and tax matters. It’s typically so routine nothing more than boilerplate is needed.

Yet changes in federal estate-tax laws in recent years mean that an advisor can help many clients by taking a fresh look at…

Documents You Need Before You Die: The Basics

From: investmentanswers.net

Life is a precious gift.

While youth often convinces us that we will live forever, there will come a time for us to leave this physical world. One of the greatest gifts you can give your family when you pass on is to have your affairs in order.

Throughout this series, we will review the documents we suggest having safely stored—but accessible—in order to make…

Myths About Trusts And Investment Management

From: wealthmanagement.com

Trusts have gained enormous popularity over the last 20 years. The top 1 percent of the wealthy have 38 percent of their investment assets in trusts, and the next 4 percent have 43 percent of their investment assets in trusts. This powerful trend is largely due to the fact that the modern trust can provide…