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Was This the Legacy You Intended?

Was This the Legacy You Intended?

The first thing you should know about me is that I’m not a fear monger. That may be surprising given my involvement with legacy planning, which is related to fear because the association with death. The simple reason why I don’t subscribe to fear-based motivation is because it’s not effective, at least not long term, and it certainly isn’t constructive.
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A Trust Can Be a Flexible and Smart Legacy Solution

A Trust Can Be a Flexible and Smart Legacy Solution

When planning your legacy and thinking about your family’s future, you may want to consider a trust. If you’ve avoided this financial tool because it seems too restrictive, it might be time to reconsider. Trusts are popular when the beneficiary is incapable of handling asset management, but they can also be fairly flexible, depending on how they’re structured. Beneficiaries can be granted a decent amount of control while still enjoying the benefits of asset protection and tax savings.
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Five Mistakes Made by the Ultra-Wealthy to Avoid

Five Mistakes Made by the Ultra-Wealthy to Avoid

We generally assume that someone who has a lot of money must be really smart about money. Maybe. But according to “Rich Habits” author Tom Corley, who spent five years studying the habits of rich people, they don’t always know better. Here are five of the mistakes he and other wealth managers found that rich people make. Some may sound familiar to you. Some may be surprising.
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Legacy Planning in an Election Year

Legacy Planning in an Election Year

Election year is officially under way and with it comes the slew of campaign ads, increasingly tense debates – both on television and on Facebook – and the knowledge that before year’s end, all of us will have to cast our votes. Regardless of your positions on the issues at hand, one thing is certain and that’s change.
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Give the Gift of…Money

Give the Gift of…Money

You’ve heard the idiom that the only two guarantees in life are death and taxes. When the two intersect, there can be hell to pay. Maybe not hell but certainly the IRS. On a federal level, most people are protected by the estate tax exemption ($5.43 million in 2015) and don’t owe any of these transfer taxes when they die.
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