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Vacation property can become a family legacy. Keeping your cabin, fishing lodge, hunting property or other special assets separate for future generations is often a special goal for a family.
If you do not learn from your mistakes, you are doomed to repeat them. In estate planning, if you do not learn from other’s mistakes, you are likely to repeat them. Mistakes in the estate planning of high-profile celebrities is one very good way to learn the lesson of what not to do. Here are eight celebrity estates, where the mistakes have been reported in the news over the years.
Conversations about family succession plans are difficult.
Have you considered transferring ownership of your home and wondering what records or paperwork is required? The reason for wanting to transfer will help determine how you should proceed.
Estate planning is a cornerstone of any healthy financial plan, but it can be difficult to discuss.
Understanding what happens to your debt when you die is an important part of estate planning—and you don’t have to be rich to have an estate. Everything you own and owe makes up your estate. For many people, that includes a house with a mortgage.
Do I need a trust in case something happens to me?
While discussing estate planning with my parents, they told me that an attorney prepared a deed for them but told them not to record it yet.
If the deceased has a will, it usually names a close relative, friend, accountant, attorney or financial institution to act as executor of the will.
Before you decide to put your home in an irrevocable trust, it is important to have a basic understanding of what you are doing and why.
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