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Quote Of The Week: You’ve Accumulated A King’s Ransom, But Can You Keep It?

“If you think accumulating a king’s ransom is difficult, try holding onto one.” Steffi Claiden,”Preserving the Family Fortune,” RealAssets Adviser, March 2017 The Takeaway: Holding onto money across generations can be an enormous struggle, says Claiden. 70 percent of the wealthy lose their money by the second generation, and 90% go bust by the 3rd generation. […]

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Quote Of The Week: More Seniors Fall Victim To Financial Abuse

“A new survey of caregivers by Allianz Life finds that 37% of seniors have suffered financial abuse. Such abuse can take the form of telemarketing scams, pressure to sign a will, or an empty promise to provide care in exchange for property. Victims of elder financial abuse lose an average of about $36,000, often to […]

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Start The New Year Right: Preparing For The Tax Changes Ahead

With the new Trump administration coming on board, we’re likely to see big changes in income taxes before the year is out. Here’s a quick cheat sheet of what you might expect: Details still uncertain. We don’t know yet which – if any – of Trump’s tax reform proposals will be adopted. Republicans in Congress […]

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Planning For The Trump Presidency: The Death Of The Estate Tax?

If President-elect Trump accomplishes everything on his ‘to-do’ list, the estate tax could be dead before the next year is out. Back in 1976, almost 8% of decedents were subject to estate tax. That tax, also called “the death tax,” made estates pay steep taxes to the U.S. Government for the right to pass assets to […]

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Unlike Many Of The Rich And Famous, Gene Wilder Retired “Just Like The Rest Of Us”

As celebrities go, his life seemed pretty simple. He lived in a fairly modest house in Stamford, Connecticut with his 4th wife Karen. (His first 2 marriages ended in divorce and third wife Gilda Radner died tragically of ovarian cancer). After roles in landmark films like Willy Wonka & the Chocolate Factory, The Producers, Blazing Saddles […]

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Top 8 Reasons Clients Turn To Estate Planners

Think estate planning is just about drafting a Will? Think again. Estate planning is about much more than directing where your assets should go after your death. Here are the 8 most common reasons clients give for seeking out estate planning expertise: 67% to avoid probate, the court-supervised legal process for administering the estate of […]

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The Passing Of A Prince

It’s always a shock to lose an enormous musical talent like Prince, who died unexpectedly just over a week ago at the age of 57. To most Baby Boomers, his death should be a huge wake-up call, especially since the music icon had apparently not drafted a Will. His $300 million plus estate will likely be […]

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Halloween Scare: If You Haven’t Drafted Proper Estate Planning Documents, This Frightening Story Will Convince You To Do So

Have you drafted proper estate planning documents, including a Durable Power of Attorney or a Revocable Trust? Odds are that at least half of the people reading this have not. So unless you want your personal finances to become a Halloween horror story, take a moment to read today’s scary Wall Street Journal article (“Abuse Plagues System of Legal […]

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Making Things Easy For Your Heirs

When clients talk to us about their last wishes, they often tell us they want to make things easy for their heirs. The last thing they want is for their loved ones to end up fighting over assets, or tied up in court for months, or jumping through expensive legal hoops. And in fact, we do see […]

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Quote Of The Week: Inheritance? What Inheritance?

“Wealth managers say retirees today are far more focused on meeting their own living expenses than leaving a financial legacy behind. And those who do have assets to spare are increasingly inclined to gift to charity or to skip a generation and name their grandchildren as beneficiaries to their estate.” Shelly Schwartz,, June 11, […]

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