Posts tagged "Estate Planning"

One downside of an educational trust with a general pot

When creating an educational trust for multiple heirs -- three grandchildren, for instance -- people will sometimes elect to put all the money into the same "pot." They just set up a general fund and all three heirs are allowed to take the money out and use it for college-related expenses.

Should estate planning include giving gifts during your life?

Estate planning essentially involves determining how to pass your estate on to your children when you die. However, who says you have to wait until then to give them the assets you have set aside for them? Should you consider doing this while you are still alive?

What you give up when you don’t have a will

What do Prince, John Denver, Tupac Shakur and Amy Winehouse have in common? They all died without a will. As a recent CNBC article noted, the years have seen many famous musicians with large estates die without a will or similar estate planning device in place. Reports are that Aretha Franklin now also makes this list.

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