Posts Tagged ‘inheritance’

You can’t avoid death or taxes, but you can have control over how your assets are passed to your loved ones. This week on Your Financial Editor.

Friday, October 7th, 2011

My guest this week is Wall Street Journalpersonal-finance reporter Rachel Emma Silverman. We’ll walk you step-by-step through the process of good estate planning. Chock-full of clear and solid advice on how to get the most out of the main estate planning tools – including wills, trusts, life insurance, guardianship papers, and powers-of-attorney documents – Ms. Silverman’s book, Wall Street Journal Complete Estate-Planning Guidebook, will help make your estate-planning process as simple, smooth, and un-intimidating as possible.

Join me this Saturday morning at 8am on AM 930 WFMD, or listen from your pc by logging onto WFMD’s website and click the listen live button.

About this week’s guest:

Rachel Emma Silverman is an editor and reporter at the Wall Street Journal, where she has worked since 1998. She currently edits and co-writes The Juggle, the Wall Street Journal’s work-and-family website and reports on career, workplace and family issues. Before that, she covered personal finance, focusing on estate planning, wealth management, insurance, philanthropy, art and collectibles, and financial aspects of marriage and divorce. She graduated summa cum laude from Harvard University and was elected to Phi Beta Kappa. She now lives in Austin, TX with her husband and two young sons.

Money is Love…

Friday, April 15th, 2011

Estate planning, death planning, wealth transfer, etc.  There are many names for giving what’s yours to others when you eventually move on to bigger and better things (die).  There are dozens of ways to “skin the cat” when it comes to avoiding or eliminating taxes, fees, and administrative costs.

However, often the problem with estate planning discussions is that the main objectives are lost.  Good, hardworking people want to accomplish 2 main things when they focus on this necessary planning:

1.) They want to make their family stronger by empowering their beneficiaries with their assets when they are gone.

2.) The want to prevent as many outsiders (government, attorney’s etc.) as possible from eroding the value of those assets.

You see, for many money is love.  It is another way to enrich the lives of the people (or institutions) that matter most to them.  They can provide the resources for a grandchild to attend college, then medical school, and perhaps find a cure for a terrible disease one day.  The institution they may leave assets to may feed the hungry or offer a hand-up to those who need it.  So, when you engage in this important planning process, always keep in mind the huge difference you may be making.  With careful and considerate estate planning, your footprint on this earth can be a very good one.  View video of 10 Simple Estate Planning Tips.

Also  – a good story on retirement planning – 6 ways to Retirement Planning Pitfalls.

What the heck is estate planning?

Thursday, March 3rd, 2011

What is estate planning and who the heck wants to talk about it when they find out?  Just blogging on the subject of estate planning makes me feel a little creepy.  I mean who wants to not only talk about dying, but planning for it!  But the fact of the matter is that proper estate planning is just as important as investment planning, tax planning, insurance planning, wealth management, etc.  I mean, why bust your hump your whole life to create a decent (or beyond decent) net worth, just to have leave it in shambles for those you love to fight over.  By the way, I don’t use the term “loved ones” lightly.  Money is used by many, many people as an extension of their love.  While we are alive, we provide college educations, pay for memorable weddings for our daughters, donate to our churches or synagogues, help monetarily when disasters strike, etc.  But when we die, if estate planning is done correctly, we leave that legacy through our estate planning.  We ensure our grandchildren get the education or business support to follow and achieve their dreams and make this world a better place.  With proper estate planning, the local hospitals and clinics will have the private funds needed to enhance our communities health and safety.  So, whether you have an extremely small net worth or you are a multi-millionaire (it’s all relative – what we have is very important to each one of us), take some time to do your estate planning.  OK, enough of the Adams family atmosphere, have a good day!  For tips that make estate planning easier, go to this article on Wallet Pop, or check out these videos on our website.