Having a conversation about estate planning with your parent or parents could be uncomfortable, but it will save your family lots of heartache and even money in the future. To start, find a segue into the conversation, like a family event or news article. Then, plan a conversation with them […]
With two homes and two children, I’ve been meaning to write a will for years. However, I was afraid the process was going to be long, complicated, and expensive, so I kept putting it off. Using Fabric’s free will-building service helped me make a will during a 10-minute car ride, […]
You don’t need a lawyer to create a will if you have a straightforward financial situation. A will outlines how you would like your assets distributed after your death and names a guardian for any minor children. You don’t need to say who will receive proceeds from life insurance or […]
As a financial adviser, I’ve seen first hand what happens when families don’t have enough life insurance. As a result, I consider it my job to inform clients about the importance of life insurance coverage and advise them on how much to buy. I currently have $US2.5 million in life […]
Talking about death is a conversation no couple wants to have, but when you have children, it’s an important one. My husband and I finally sat down to write our will using Fabric, a free online service, and we made some important decisions about our future and the future we […]
Some wealthy parents have trouble figuring out the right amount of money to leave their kids, Joe Pinsker reported for the Atlantic. One estate planning attorney who formerly advised wealthy Silicon Valley families told Pinsker that parents should pass down only what their child is prepared to handle. Talking to […]
My mother purchased her home on the south side of Chicago for $US55,000 in 1986, the equivalent of $US123,000 today. When she died without a will, court fees and fines left our family with just $US40,500 – a loss of over $US80,000 on the purchase price of her house. I […]
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This is the sixth post in the 8-part “Taking Stock Of Your Financial Advisor” series, focused on the dynamic relationship between high-net-worth investors and their advisors. “Taking Stock Of Your Financial Advisor” is sponsored by OppenheimerFunds. See more posts in the series ». Estate planning certainly isn’t one of the […]
Relatives she barely knew are fighting for her fortune.
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