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Most parents want to leave their children an inheritance if they can afford to do so, but that isn’t universally true. There are plenty of parents who decide not to give anything to one or more of their kids or leave them money in unequal shares. While it’s legal...
There are numerous stories of wealthy families that over the generations became poorer rather than richer. Overspending and poor financial decisions by the Pulitzer's, Barbara Hutton (Woolworth heiress) and others resulted in the loss of much of the family fortune....
If you are in the process of creating or updating your estate plan, a crucial concern is deciding who will be in charge of distributing your assets. The executor of your will or trustee of your trusts has a vital role to play in ensuring your wishes are followed....
When the Tax Cuts and Jobs Act of 2017 increased the estate and gift tax exemption amount from $5.49 million to $10.98 million, it significantly reduced the number of wealthy Americans that had to worry about such taxes. However, the exemption and other trust and...