Legacy planning is a form of estate planning that can mean more than money on a number of different levels. Obviously, we all need financial resources, and you make sure that your loved ones receive their inheritances in the ideal manner when you devise your legacy plan. For high net worth families, this will involve wealth preservation because the estate tax can take a heavy toll. In 2016, the estate tax applies to transfers that exceed $5.45 million, and the maximum rate is 40 percent. … [Read more...] about Legacy Planning: Things Money Can’t Buy
Legacy Planning: Get Motivated in 2016
Most relatively young adults do not have any type of legacy planning documents in place, and while this is understandable to some extent, every responsible person should have an estate plan. When you engage in the process of legacy planning, you make sure that everyone that you love will be provided for come what may. You invariably carry insurance of various different kinds to protect yourself from potential events that may never happen. Everyone is going to pass away, but a very significant … [Read more...] about Legacy Planning: Get Motivated in 2016
