Lots of people bring me their existing estate plans to review for them. Sometimes I get to deliver the good news that their documents were drafted correctly, their assets are protected properly, and their plans are up to date with the current laws and their present family situation. Unfortunately, more often than not, I have […]
The longer I am a part of this community, the more I appreciate all it has to offer. Last weekend was my first Halloween in Sierra Madre. My kids are 6 and 4; perfect trick-or-treating age. And let me tell you, they had a blast! I love how Sierra Madre does Halloween. It was an […]
A recent U.S. Supreme Court decision changes the way inherited IRAs are viewed when it comes to bankruptcy, which means those who inherit these retirement account assets must find new ways to protect that inheritance. In Clark v. Rameker, Heidi Heffron-Clark inherited an IRA from her mother. She received distributions from that inherited IRA for […]
Parents of children with special needs usually share one overriding concern: what will happen to my child after I’m gone? They also often struggle with guilt for what they envision as an eventual destiny for their other children who may assume care of their special needs sibling. But I’m here to tell you, this is […]
Legendary Hollywood actress Lauren Bacall died on August 12, 2014, leaving behind an estate worth an estimated $26.6 million. Her three children now face a couple of potentially serious problems that could have been avoided through effective estate planning. Bacall, who was married to Humphrey Bogart and Sam Robards, passed away in her New York […]
I love being a parent… well, most of the time. But my parents – and my wife’s parents – tell me there is nothing better than being a grandparent, and the joy they feel about their grandchildren comes with no interruption. And I get it. After all, they get to spoil my kids and focus […]
Inherited wealth need not be “an albatross around the neck of the children” as Sting so succinctly put it recently when asked if he was leaving his wealth to his children. I – and many other parents – share Sting’s concerns. But proper preparation for inheritance can ensure the assets you leave for your children […]
There are many iconic American families that come to mind when we think of vast family wealth. The Vanderbilts, for example, were one of the riches families in America in the 19th century. Cornelius Vanderbilt, the family patriarch, built his railroad and shipping fortune to $100 million before he died in 1877 – which was […]
You bring your children into the world with love. You raise them with love. If you’re going all the way as a parent, you also create an estate plan to safely pass on your legacy of love as well as your assets. But does your plan simply leave your assets outright, so they pass directly […]
As hard as it is for all of us to “plan” for our deaths, doing so is actually one of the best things you can do for your family. Adding to their grief and pain by giving them no clue as to where to find your personal and business paperwork should not be a memory […]
