Estate planning is the process of transferring the management of your assets, if and when you are unable to manage them yourself due to disability or death. Whether you have $100 or $100 million you should have an estate plan.
The saying goes that anyone who does not learn from mistakes in the past, is doomed to repeat them. In estate planning, if you do not learn from other’s mistakes, you are likely to repeat them.
While the tabloids and gossip websites were eating up every move Paris made, so was someone else – her grandfather, Barron Hilton. Before 2007, Barron was set to leave his $4.5 billion fortune to his family. That was until Paris embarrassed him with her antics so badly, that he changed his mind.
Rising divorce rates among Americans over the age of 50 are causing more conflict in estate planning, new data shows. According to a recent survey by TD Wealth, up to 40% of financial planners say that rising gray divorce rates are leading to an increase in family strife with estate planning as the top conflict.
You’ve considered how you want your estate to be distributed after you die. Hopefully, you’ve even written a will to make sure your wishes will be followed. So, your estate is planned…right?
Many A-listers have an impressive fortune worth millions and sometimes even billions of dollars, but not all of them intend to pass on this wealth from one generation to another.