It’s been pounded into us that having a successful retirement requires advance planning—financial planning, Social Security planning, retirement income planning, and estate planning. And now, there’s another component to be considered—planning what happens in the event you have a decline in mental capacity.
The Administration for Community Living estimates there...
Alhambra's Bob Williams explains why an Intentionally Defective Trust is a win-win for your estate and your beneficiaries.
My, how things have changed. When I was growing up, if you found out someone had a trust, well, that person must be rich—they must be a millionaire (that’s back when a million dollars was really worth something). Today, though, trusts of all kinds are a common planning tool...
- A well-thought-out process for distributing your estate to people and institutions you wish to benefit.
When thinking about estate planning, your approach may be that of many Americans—distribute the estate to your kids as soon as possible after your death. That’s a workable plan for many. But it...
PROBATE—a word that strikes terror in the hearts of people planning the distribution of their estates. They worry that the probate process can drag on for months or years, that probate costs will eat up a chunk of what they want to leave their heirs, or that people will...
Alhambra's Bob Williams describes 6 mistakes that will blow up your estate plan.
For all the years I’ve been helping clients plan retirement, death has always been the 500-pound gorilla in the room—the variable you have to guess at—trying to make sure the client doesn’t run out of money before the grim reaper comes to collect them.
Oh, you can try to factor...
Pop icon Prince died of a fentanyl overdose in 2016. Until early this year there’s been a royal battle going on between the IRS and the estate administrator over just how much the estate is worth. As you might expect, the IRS placed a high value on the estate...
Late rock star, Prince, once sang, “Money didn’t matter yesterday and it sure don’t matter tonight.” That may have been Prince’s attitude toward money, but it was definitely his attitude about estate planning—he had none! If there had been a plan, his estate could have been settled years ago....
Saying you need an estate plan is like saying you need to eat your vegetables. You know it’s good for you but there are other things you’d rather do. A survey by Caring.com shows that in 2021, 25% of Americans ages 18-34 had some type of estate planning document,...