How To Help The Victims Of The Central Mexico Earthquake

Mexico is still recovering from a magnitude 8.2 earthquake, the strongest one the country has felt in 100 years, which hit the southern coast just two weeks ago. Tuesday’s temblor also fell on the 32nd anniversary of the magnitude 8.0 earthquake that struck Mexico City in 1985, killing thousands. In a statement issued on Tuesday night,…

Estate Planning For the Newly Married

Now is the perfect time to start working on an estate plan – because, as newlyweds, you may not have a list of your accounts, but you’ve effectively just done a working inventory of your possessions – as you’ve figured out how to consolidate two households into one. You’ve already been working on the new…

If I Don’t Have an Estate, Do I Really Need an Estate Plan?

You don’t need to have a summer house in the Hamptons or a private art collection big enough to rival MOMA to consider yourself the owner of an estate. In fact, virtually anyone who owns anything has an “estate” in the eyes of the law. Although the term may conjure images of expansive country properties,…

10 Common Ways Even Brilliant Entrepreneurs Screw Up

If you’re relying on your top line to grow your wealth, you could be missing out on easy opportunities to save money and improve profits, independent of your revenue. Many entrepreneurs waste precious time and money by falling prey to these common mistakes. However, there is no need to sacrifice, work harder, or take on…

Why a Trust Is the Best Option for Avoiding Probate

As Ambrose Pierce once darkly observed, “Death is not the end. There remains the litigation over the estate.” Obviously, ideally, when someone passes away, the paperwork and material concerns associated with the estate are so flawlessly handled (thanks to excellent preparation) that they fade into the background, allowing the family to grieve and remember in…

Did You Name a Guardian for Your Minor Children?

We know it’s hard. Thinking about someone else raising your children stops us all in our tracks. It feels crushing and too horrific to consider. But you must. If you don’t, a stranger will determine who raises your children if something happens to you – your child’s guardian could be a relative you despise or…

How To Be Successful At Business Succession

Entrepreneurship is not for everyone. Only a certain type of person has the particular set of skills, and is willing to take calculated risks and work tirelessly to build a successful business from scratch. One risk you should never take is leaving the future of your business to chance. As you grow your company, consider…

Warning: Don’t Let Creditors Inherit from You

Shocking to most people, the retirement account you leave for your spouse can be seized in a divorce, lawsuit, or bankruptcy. 3 Options Available To Surviving Spouses When your surviving spouse inherits your IRA, he or she generally has three options: Cash out the inherited IRA and pay the associated income tax. WARNING: the cashed-out…

Estate Planning: Why Me, Why Now, and Is a Will Enough?

You have worked hard for years, have family members and friends you care about, and have approached a time in your life when “estate planning” sounds like something you should do, but you are not exactly sure why. You may feel that you are not wealthy enough or not old enough to bother or care….

The Perils of Joint Property

People often set up bank accounts or real estate so that they own it jointly with a spouse or other family member. The appeal of joint tenancy is that when one owner dies, the other will automatically inherit the property without it having to go through probate. Joint property is all perceived to be easy…