This Thanksgiving season spend a little time telling those around you how much you appreciate them – here is the guidance from Debi Barger, “Write a letter to someone and tell them how they have had a positive effect on your life.”
This saying of former Defense Secretary Donald Rumsfeld aptly describes an inherent challenge in the estate planning process. Some of the events categorized into the ‘known unknowns’ bucket might be a heart attack, early onset Alzheimer’s or serious car accident. The other bucket as the name implies is more difficult to pin down.
Recently, media outlets published that Francis Bean Cobain - the 25-year-old daughter of Nirvana's Kurt Cobain - receives about $100,000 a month from a trust funded by her father's publicity rights. Her father died without even a simple will. Intestacy laws dictated that his estate would pass to his surviving spouse and daughter and there have since been ugly, public court battles.
Usually, it is only required when there are serious disagreements, liability issues or litigation. In your will, making a wise decision about who to name as personal representative may avoid the issue altogether. It is truly one of the benefits of a will, you get to decide who has the necessary skills to administer your estate according to your wishes.
Opening a joint account with one child could result in unintended issues. It might even provide a larger inheritance to one child after you sought to provide roughly equal gifts to your children in your will.
Almost as soon as a younger sibling arrives, so does rivalry for parent attention. As the children grow up, it is amazing to see how early these rivalries turn into “hitting” and “no, thank yous.” As children grow up together these behaviors change, but sibling rivalry rarely ever goes away.
When is the right to time do business continuity planning if you are a sole owner or have a family business you would like to eventually hand off to children? It’s right now.
Approximately 44.2 million Americans are paying off student loan debt and it is hanging around longer than ever. Whether it will survive you will depend on the type of student loan.
Mild winters and year-round accessibility to parts and trails throughout the Rocky Mountains are some of the reasons listed by CNN in its ranking of best states to retire. In addition, Bankrate finds that Colorado residents are some of the happiest with great access to healthcare.
Colorado has made the top 10 list for growth over the last couple years and its population now tops 5.5 million. Modest homes in Cherry Creek and other desirable Denver neighborhoods have appreciated greatly as more people continue to move into the area.