Investment News editor and financial planner Mary Beth Franklin ended up with a key take away from her husband's recent 65th birthday that she didn't remotely suspect would materialize amidst the festivities.
In a recent article published for Rolling Stone magazine, actress Billie Lourd revealed that she always lived in her mother’s and grandmother’s shadows. For the unititiated, Lourd’s famous mother and grandmother are Carrie Fisher and Debbie Reynolds, respectively.
We stressed in our immediately preceding blog post the logical need for individuals and families in California and across the country to periodically revisit the estate plans they carefully crafted in the past. We noted in our July 27 entry that the financial strategies and detailed expectations inherent in given estate administration documents and tools need to be adjusted sometimes "when the world around us changes."
Estate plans are not static. Everyone wishes that they were -- that we could just create them and forget about them, and that the plans themselves would adapt to life changes and legal changes over time. But that Utopian world doesn't exist. We have to change our estate plans, and often, when the world around us changes.
Many articles and commentaries on so-called "elder law" estate planning stress its utility in guarding against skyrocketing nursing care costs, especially in residential homes.
Any reasonable California resident is likely going to feel an uptick of peace and relief in the immediate wake of working with a proven estate planning attorney and implementing a well-tailored strategy for protecting loved ones and addressing future contingencies.
Keeping a business profitable is probably one of the toughest questions facing a business owner. Indeed, the business may be thriving today, or this year, but ensuring the continuing viability takes planning, especially if you don’t plan on being in the business forever. With that said, succession planning should be an essential part of business planning.
To say that a common core of estate planning considerations and strategies is equally applicable for both heterosexual and same-sex couples, respectively, is an obvious oversimplification.
Sometimes a would-be estate planner in California or elsewhere knows exactly who they want to leave their estate to, but is fuzzy on the details regarding asset distribution, timing considerations, trust specifics and additional concerns.
The financial publication Wealth Management notes at the outset of a recent article on select professionals and the duties they owe to clients that estate planning attorneys haven't historically been deemed to be providing investment advice in narrow terms when they work on behalf of clients.