Funerals rank among the most expensive purchases many consumers will ever make. A traditional funeral costs about $6,000, although “extras” like flowers, obituary notices, acknowledgment cards and limousines can bring the total to well over $10,000. Moreover, people often “overspend” on a funeral or burial because they think of it as a reflection of their […]
Planning for a Loved One with Special Needs In general, a trust is a legal device whereby property of some sort (real estate, cash, tangible personal property, etc.) is managed by a person, termed the Trustee, for the benefit of certain other people, termed the beneficiaries. A special needs trust, also called a “supplemental […]
Preserving Wealth Over Generations Several common sayings refer to the phenomenon of losing inherited wealth. One is “shirtsleeves to shirtsleeves in three generations.” Another is “the first generation makes it, the second spends it, and the third blows it.” These sayings are supported by numbers. According to a recent article in the Wall Street Journal, […]
The Consequences of Life Estates A life estate is a form of ownership in which property owners transfer ownership in their property, most commonly their home, while retaining the right to use and occupy it for the remainder of their lives. This type of ownership is used to avoid probate of the property and also […]
The majority of American families own a pet. If you are part of this majority, it is important to think about making arrangements for your pets in case you are no longer able to care for them yourself. According to a recent survey, over 63% of pet owners consider their pets to be family members. […]