The most common trust planning mistake wealthy families make is failing to fund their trust. Trust Planning Mistake I have met with 100s of wealthy families in my 25+ years in wealth management. My experience is that 8 out of 10 wealthy families do not fund their...
What is it really like to be a trustee? How much time will it take? What are my legal requirements and responsibilities? I have been in wealth management for over 25 years and have helped dozens of families with their trust planning. I have been a trustee myself for...
Retirement planning can be overwhelming. To simplify your retirement plan and increase your odds of success, break your retirement plan down into the following three goals: portfolio, housing, and estate plan. Instead of getting lost in a complicated software program,...
You have done well in life and have a lot of assets. In your estate plan, you created trusts for your kids, but you are not sure how to talk about it with them. Do not worry, you are not alone. Many wealthy families avoid discussing trusts with their kids because they...
A spousal lifetime access trust (SLAT) is an effective tool for saving money on estate taxes. When a SLAT trust is created, one spouse is the trust grantor, and the other is the beneficiary. The grantor spouse gifts assets to the irrevocable SLAT trust and files a...
