“Now as Boomers enter their 60s and 70s, they are more focused than ever before on managing their family legacies. The 2018 U.S. Trust Insights on Wealth and Worth Study found that 67% of individuals over age 50 want to use their wealth to invest in their children and grandchildren. Further, many are doing more for their children than their own…

“Every individual owns an estate, no matter how large or obscure it might be. What most young people fail to understand is that preparing an estate plan early on helps to lay a secure foundation for their family’s future. Why? Because you’re providing for them and ensuring your legacy will live on when you’re no longer around….

“If only millennials had more money, they would be at the top of every investment adviser’s list of target markets. Today, millennials (born from 1982 to 2000 and numbering 83 million in the U.S.) comprise one-quarter of the U.S. population and now outnumber baby boomers (born from 1946 to 1964).  The problem is that millennials control…

“A major part of Michigan’s new regulations on medical marijuana involve lab testing for safety compliance. In the past, marijuana testing hasn’t been required by the state. Now, it’s a new aspect of the medical marijuana industry in Michigan and, no — testing does not involve anything like puff, puff, pass. Labs for testing marijuana…

“While it may be a task that’s low on your to-do list, estate planning can provide guidance for your loved ones in the future. It will also give you a sense of relief as you think about passing on your household and assets. “Most people would benefit from having basic estate planning documents in order to make…

“Imagine you have a young child and something happens to you and your spouse. With a traditional estate plan, you might have a will that includes language about guardianship. In the event you and your spouse pass away or are incapacitated, it is in this section of the will the court will turn to that…

“Estate planning is the process of anticipating and arranging, for the management and disposal of a person’s estate, during the person’s life and at and after death. Estate planning is a broader term for planning and process while the tools for doing estate planning are (i) will writing and (ii) creation of trusts. Let us…

“If you are beginning the legacy and estate planning process, your first concern may naturally be how to maximize what you give to your family and favorite charities by minimizing what you pay in taxes. However, your legacy is not just about increasing the financial wealth that you hope to pass on to future generations….

“More than half of all American adults don’t have a will, and that can cause all kinds of problems if tragedy strikes. The death of both parents in an accident can leave their children’s fate up to a judge. Assets in a blended family may not end up being distributed the way you would like. And, if you’re…

“Experienced estate planners see a high percentage of clients with these recurring mistakes. They know if you’ve never seen an estate planner or haven’t had a plan revised within the last three years, your plan is likely to have at least one of these costly mistakes. (Remember, even if you haven’t seen an estate planner,…

©2016 Marsalese

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