As noted by a contributor to a recent national piece on estate administration, the planning inclination for many individuals and couples is dulled by narrowly focused objectives regarding their kids.
Forbes writer Nancy Anderson has inside knowledge when she relates the tale of a financial planner who failed for years to note -- and amend -- a key estate planning recommendation she had once made but long since forgotten about.
Having children forces difficult conversations. When you have children, it’s hard to think about some of those long talks you’ll have over the years: about dating, bad news and life choices. But you also know that it’s important to sit down and be open about your beliefs because the alternative is even worse. Guardianship is one of those topics. The uncomfortable conversations won’t be with your children, but about them instead. If something were to happen to you and the other parent, who will take care of your kids?
If you read the above headline to today's blog before diving into the body of this post, you're likely ready now to immediately confront a bunch of "well, maybe, but maybe not" language.
Things have gone from steadily bad to persistently worse in the realm of interaction between principal players in estate matters surrounding exalted pop music legend Prince.
In many ways, trusts are among the most valuable of all tools in the realm of estate planning and administration.