Family wealth counseling is a different approach to estate and financial planning that has emerged over the past several years. Traditional estate planning focuses on transferring wealth while striving to reduce taxes, avoiding probate, and possibly planning for business continuity. But family wealth counseling also considers the social and emotional aspects of your wealth. It is a more question-based, purpose-driven, life planning process that some say has provided their life greater meaning and fulfillment. Let’s examine some reasons you may want to consider a family wealth counseling approach in your estate plan.
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Naming a beneficiary can be an easy way to ensure your loved ones will receive their inheritance directly without waiting until the rest of your estate has settled. But beneficiary designations can also be problematic so you should make sure they are correct since mistakes can be costly. Here are five critical mistakes to avoid when dealing with your beneficiary designations.
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If you are new to financial services you may be asking yourself if there is a difference between financial planning and estate planning. They may sound similar but they are vastly different. Let’s go over the differences and answer some questions you may have.
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Digital assets – what are they? Why do they matter? How are they handled by an estate? Here are some ideas to protect your digital assets after you’re gone.
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When a spouse or partner passes away, it can be a traumatic event. Whether it was expected due to a long illness, or sudden and unexplainable, family and friends will experience grief.
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