In many families, there is an uncomfortable silence when the subjects of death and money come up. According to Eileen and Jon Gallo, authors of Silver Spoon Kids: How Successful Parents Raise Responsible Children (McGraw-Hill, 2001), most adult children have no idea of their parents’ net worth, let alone the details of their estate plan.… Read More
Give your family the gift of telling them what you have planned for them. Decide who will be your executors, agents under your power of attorney and surrogate for health care decisions under a medical directive. Let the family know who is going to hold these positions. Make sure the persons you name are willing… Read More
Estate planning aims at the transfer of wealth from one generation to another in a way which minimizes taxes and maximizes economic gain. It usually involves parents making gifts to their children, grandchildren, or charities. The problem is that while many clients spend hours with attorneys, accountants, and financial advisors crafting an estate plan, they… Read More