During the next 20 years, over 60 million Americans will inherit an estimated $8 trillion in an unprecedented shifting of wealth. Most of these new heirs are unprepared to handle the windfall, and Managing Your Inheritance will be a godsend. The authors walk readers through every phase of the inheritance process, and show how to protect family wealth through intelligent saving and investing. Author tour. 25,000 print.
While more than 50 percent of Americans feel it is important to leave an inheritance for their children and other beneficiaries, the majority have not yet made any plans for their estate. This new book will serve as an aid in your planning, providing you with indispensable information and the necessary tools. Whether you choose to arrange a trust or a will, you will learn how to do so, as well as how to manage and alter your plans. You will be able to choose which trust is right for you, be it living, incentive, Qualified Terminable Interest Property, charitable remainder, children s, support, family, or generation-skipping tax-exempt. You will decide which will -holographic, nuncupative, self-proving, statutory, simple, joint, living, mutual, ethical, electronic, or video - best fits your needs. Furthermore, you will learn about income only trusts, the Uniform Transfers to Minors Act, 529 plans, and Coverdell accounts. In this book, you will learn tips for distributing inheritance among children and what an appropriate inheritance is, as well as about inheritance taxes, exempt beneficiaries, disinheritance, durable power of attorney, and advance health care directives. Additionally, you will learn tips for distributing inheritance among children; what an appropriate inheritance is; how to prevent fights over inherited property; how to deal with adopted children, stepchildren, and children from a second marria≥ how to select trustees and guardians; how to protect your money from a financially immature child, a child s spouse, and creditors; how to divide valuables and non-cash assets; and how to deal with the family home. Your Complete Guide to Leaving an Inheritance for Your Children and Others makes this difficult process easy to understand by using simple, every day language. If you are one of the many people who want to leave an inheritance but do not know where to begin, it is time to pick up this book and start planning. Atlantic Publishing is a small, independent publishing company based in Ocala, Florida. Founded over twenty years ago in the company presidentâe(tm)s garage, Atlantic Publishing has grown to become a renowned resource for non-fiction books. Today, over 450 titles are in print covering subjects such as small business, healthy living, management, finance, careers, and real estate. Atlantic Publishing prides itself on producing award winning, high-quality manuals that give readers up-to-date, pertinent information, real-world examples, and case studies with expert advice. Every book has resources, contact information, and web sites of the products or companies discussed.
The complete guide for managing the financial, legal, and emotional issues of inheritances large and small. A death in the family is never easy, but receiving an inheritance, whether expected or not, can leave heirs feeling overwhelmed and even guilty at this change in their fortunes. Ann Perry’s insightful examination of the challenges make managing a bequest a little easier. Combining her practical know-how as a personal finance writer, the expertise of financial advisors, attorneys, and psychologists, and the wisdom gained from her personal inheritance experience, Perry deftly deals with such touchy subjects as selling the family homestead, divvying up property in “blended families,” parceling out heirlooms, dividing a family business, and sharing—or not sharing—an inheritance with a spouse. With refreshing candor, Perry addresses the guilt, grief, and unrealistic fantasies that can keep heirs from making the most of their windfalls, and also explores the unique, even life-changing, opportunities that a bequest can present. An excellent tool for estate planning, as well, this is essential reading for those who are writing their wills as well as those who are remembered in one.
Financial Autonomy is a fresh, innovative book about money. But unlike most money books, it's not focused on making you the richest person in your street, or worse, the richest person in the cemetery. Instead, the focus of this book is on gaining choice. What can you do on the money side of your life, to provide you with the choice to pursue maximum happiness in all the other aspects of your life.Have you ever listened to a guest on a radio program or a speaker at an event talking about some amazing experience they've had? Perhaps it was traveling through Tibet in a beaten-up Land Rover, sailing around the world, jumping out of planes in a wing suit, or starting a business or charity of their own, driven by a magnitude 10 passion to make an impact.And when listening to these inspiring stories, have you ever wondered how they managed to organise their life so that it was possible? Do you wish you could organise your life to do what's important to you?Financial Autonomy is a book about money but it's equally about gaining choice. If you get the money side of your life right, you will have the choice to pursue maximum happiness in all the other aspects of your life. Personal finance expert Paul Benson believes there are three vehicles to create enough wealth to have the choices you desire are: (1) Investing in shares; (2) Investing in property; and (3) Working for yourself (starting a side hustle or small business). He explores these in detail, as well budgeting and saving - and as you'd expect, he gives readers a choice of strategies they can adopt to succeed in these areas.
Inheritance theft is a widespread but hidden phenomenon afflicting every level of society. During the next twenty years, baby boomers and their children will inherit an estimated one hundred trillion dollars, much of which will be hijacked by family members, associates, or strangers. Everyone who might give or receive an inheritance is a potential victim.The legal and practical advice in this book teaches:"Who steals inheritances"Why, When, and How inheritances are stolen"Why we are all potential victims"How to protect yourselfThis book includes Q&As on inheritance law, quizzes to determine the security of your estate, and checklists on how to protect yourself.
The complete guide for managing the financial, legal, and emotional issues of inheritances large and small. A death in the family is never easy, but receiving an inheritance, whether expected or not, can leave heirs feeling overwhelmed and even guilty at this change in their fortunes. Ann Perry’s insightful examination of the challenges make managing a bequest a little easier. Combining her practical know-how as a personal finance writer, the expertise of financial advisors, attorneys, and psychologists, and the wisdom gained from her personal inheritance experience, Perry deftly deals with such touchy subjects as selling the family homestead, divvying up property in “blended families,” parceling out heirlooms, dividing a family business, and sharing—or not sharing—an inheritance with a spouse. With refreshing candor, Perry addresses the guilt, grief, and unrealistic fantasies that can keep heirs from making the most of their windfalls, and also explores the unique, even life-changing, opportunities that a bequest can present. An excellent tool for estate planning, as well, this is essential reading for those who are writing their wills as well as those who are remembered in one.
Do you have aging parents and the stress of knowing you will be settling their estate someday? Did you know there are strategies available that you can implement while they're alive to save time and money? In the delicate balance of aging parents and looming inheritance, the responsibilities of managing their finances can be overwhelming. But what if these duties could be transformed into a proactive game plan that benefits not only your parents but your entire family? The Inheritance Playbook explores the nuances of serving as power of attorney, sharing insights you can apply to your own family's unique circumstances. Author and expert Chad Holmes weaves complex tax-saving strategies into relatable, entertainingparables, making advanced financial concepts accessible and easy to comprehend. The strategies shared here aren't reserved for the ultr-wealthy; they are tailored for any family navigating the emotional journey of losing a loved one and the fear of wasting the inheritance on unnecessary taxes and expenses. In this engaging, occasionally humorous narrative, you will learn: What probate is adn why you would typically want to avoid it; The benefits of being proactive before your parents pass away; What information you need to know now to avoid stress and headaches later; The tax strategies that can be done for free and don't require a fancy trust; Simple hacks to maximize your inheritance and avoid unnecessary money loss. The time to act is now. Embark on a transformative journey that guides your family to take advantage of less-known tax laws to save money and simplify the estate settling process. Keep the torch of your parents' legacy shining brighter for longer. (---back cover of book)
This book consists of two titles, which are the following: 1 - Estate Planning: Estate planning is the process of arranging for the management and disposal of a person's estate during their life and after death. It involves creating legal documents such as wills, trusts, and powers of attorney to ensure that your assets are distributed according to your wishes, minimize taxes, and provide for your loved ones. It's important to regularly review and update your estate plan to reflect changes in your life circumstances and the law. 2 - Trust Funds: Trust funds can be quite versatile and serve various purposes depending on the needs and goals of the grantor. They can be set up during one's lifetime (living trusts) or established through a will upon death (testamentary trusts). Trusts can be revocable, meaning the grantor retains control and can modify or revoke the trust during their lifetime, or irrevocable, where the terms are fixed and cannot be changed.
Many successful parents have spent their lives creating a financial bonanza for themselves, as well as their children and grandchildren. What they didn’t plan for are the unintended consequences that increased wealth brings. These include issues like entitlement and loss of work ethic among the rising generation, and increased potential for upsets, disputes, and strained relationships that can often progress to separation and even lawsuits. Richard M. Del Monte, CFP®, CWC, wealth consultant and author of ENDLESS INHERITANCE: Moving from Feuding to Flourishing in Your Affluent Family aims to help affluent families prepare for and prevent the destructive forces that wealth brings, and help them resolve all their conflicts, prepare the heirs to handle the wealth they will inherit, and create a scenario in which money becomes a tool to unleash and achieve the family’s greatest potential, now and in future generations. Seventy percent of affluent families fail at passing on wealth through the second generation, meaning the kids either squander all the money or wind up fighting with or suing each other. Written as a guide, ENDLESS INHERITANCE: Moving from Feuding to Flourishing in Your Affluent Family, outlines how to prepare the rising generation of a wealthy family—not just to inherit worldly goods, but to be engaged and contributing members of the family, to appreciate their shared history, resolve conflicts quickly before they escalate, and to be able to handle the responsibilities and opportunities that come with wealth. As a wealth consultant, asset manager, and trained specialist in family dynamics, Richard M. Del Monte outlines a plan of action supported by resources and exercises to empower parents and children alike to start the often difficult conversations needed to overcome poor relationships, lack of trust, and entitlement. The book addresses financial planning aspects wealthy families should consider, as well as the family’s interpersonal relationships and training that need to be addressed to ensure their wealth and family harmony last for generations.
