Top Five Problems with Trusts & Wills
Top Five Problems with Trusts & Wills Today on my weekly radio show with Marty Schneider, “The Retirement Professor”, I answered questions about California estate planning and Living Trusts. Marty asked me what were the most common problems I see with estate planning. I answered him with my list of the top five problems with Trusts & Wills. I see too many people who do not have proper documents when they become disabled or die. They may have some documents like a Will or Trust, but here are the top five problems with trusts and wills: Trust Problem #1...
Read MoreEstate Planning Fatigue
Estate Planning Fatigue According to a recent survey conducted by CNBC.com, more than one-third of high-net-worth families have not set up a basic estate plan to protect and provide for their loved ones when they die. The survey found that 38 percent of millionaires with investable assets of $1 million or more have not established an estate plan with the help of a financial expert. Millionaires with $5 million or more were more likely to have an established estate plan with 68 percent having one. The survey also found that Republicans were more likely to use a financial advisor to set up an...
Read MoreEstate Planning for Women
Estate Planning for Women While our motto here at GQ Law is that everyone needs an Estate Plan. Today’s post is specifically for the ladies- estate planning for women.. No matter whether you’re single, married, divorced, or widowed, you need an Estate Plan. Although the tools used for estate planning are the same for women and men, there are some differences to consider. Since women are likely to live longer than men, more likely to have custody of children, they tend to face some unique challenges. Additionally, women (generally speaking) psychologically approach the process...
Read MoreWhitney Houston’s Estate Plan
Whitney Houston’s Estate Plan We’ve written on this blog before about celebrities and their notoriously bad Estate Planning. Often times these super stars leave their billions, homes, cars, jewels, royalties and family members in a big huge state of confusion, read about some specific cases in this post. With the recent passing of vocal icon Whitney Houston’s daughter Bobbi Kristina Brown, there has been quite a bit of media coverage regarding Houston’s estate. Whitney Houston’s Estate Plan was actually well in order and updated when she passed. She left...
Read MoreBaby Boomer Retirement Mistakes: No Estate Plan
Retirement Mistakes: No Estate Plan According to a recent USA Today article, many baby boomers are forgetting an essential part of their retirement plans- creating an estate plan. Nobody wants to think about death and what all will happen once you go but death without an estate plan can be even worse for those left to deal with your estate. For most people, estate planning is on the bottom end of the priority list but according to wealth and financial advisors, it should be on the top. Estate planning and financial planning go hand in hand. “There are three important...
Read More5 Reasons To Spend Your Tax Refund on an Estate Plan
5 Reasons To Spend Your Tax Refund on an Estate Plan With Tax season almost coming to a close, many of us are getting the happy news that our tax return refunds have hit our bank accounts. Deciding what to do with that extra money is the next big step. Many people simply spend it on things they’ve been wanting but couldn’t afford previously- new TVs, upgraded electronics, taking the kids on a fun trip. Others put the money away in savings or invest it. We at GQ Law recommend that you invest it in an Estate Plan. We’ve posted many times about the importance of an Estate Plan...
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