Estate planning

Legacy expert attorneys Andy and Danielle Mayoras say it’s not too late to help your clients tackle an issue that should be among their most important resolutions in the New Year: estate planning.

Legacy expert attorneys Andy and Danielle Mayoras say the billonaire's case serves as a reminder that too many people make the estate planning mistake of relying on verbal or written promises that contradict their will or trust.

It took years for the great civil right activist’s final wishes to finally be honored, something that legacy expert attorneys Andy and Danielle Mayoras say could have been resolved much sooner had she done a better job – or had better advice and professional assistance – with her estate planning.

Understand the three levels of happiness and be ready to connect them with their financial-planning equivalents.

The principle behind the annual gift tax exclusion is to shelter gifts commonly made on birthdays, holidays, weddings and other special occasions. However, many high-net-worth individuals may also utilize the annual gift tax exclusion as a strategy to mitigate the impact of future estate taxes.

The principle behind the annual gift tax exclusion is to shelter gifts commonly made on birthdays, holidays, weddings and other special occasions. However, many high-net-worth individuals may also utilize the annual gift tax exclusion as a strategy to mitigate the impact of future estate taxes. According to Richard Behrendt, director of estate planning for Baird’s Private Wealth Management group, the timing of making year-end gifts is important because a transfer of property is treated as a completed gift for federal gift tax purposes only after the donor has unconditionally relinquished all dominion and control over the transferred property. Even if the donor has no intention of revoking (taking back) the gift, simply retaining the ability to revoke the gift through the end of the year could shift the completion of the gift into the next calendar year. Under the Internal Revenue Code, individuals may give up to $13,000 to an unlimited number of non-charitable beneficiaries in each calendar year. Married couples may double-up and make combined gifts of up to $26,000 to children, grandchildren, or other non-charitable beneficiaries. Here are six rules investors need to consider before making any year-end gifts.

The accountant and attorney for the estate of a 104-year-old copper mine heiress who died earlier this year have been under investigation for their handling of their client's finances, and the accountant has now resigned as executor.

Every new year, many financial planners prompt clients to revisit and update their estate plans and wills. In so doing, they should begin teaching clients about a new – but critical – area of estate planning: attending to their digital legacies.

Legacy expert attorneys Andy and Danielle Mayoras say there’s no doubting the greatness of Martin Luther King Jr. However, he made a mistake common among millions of Americans: He didn't have a will.

Legacy expert attorneys Andy and Danielle Mayoras say events surrounding his estate have been anything but consistent with his musical legacy. In the 30 years since his death, his estate has seen far too many court fights, lawsuits and money-grabs to count. And that legacy of fighting over money doesn’t seem likely to end any time soon.

Intra-family loans are gaining traction to finance start-ups and help out in many other ways.

Legacy expert attorneys Andy and Danielle Mayoras say the intrigue and legal wrangling surrounding the copper heiress’s $400 million estate serve as a stark reminder that everyone -- wealthy or not -- needs to get proper estate planning advice from their financial advisor before it’s too late.

In this low interest rate environment, some financial planners are advising their clients to cut the middleman out entirely with intra-family loans.

Problems arise when a parent adds a child's name to an asset or aids elderly loved one who needs assistance.

Al Davis, the long-time principal owner and general manager of the Oakland Raiders, died last week at age 82. As legacy expert attorneys Andy and Danielle Mayoras point out, estate taxes are huge concern for NFL owners and it appears that Davis, unlike other professional sports owners, made the necessary arrangements to keep the franchise under his heirs’ control.

Soon after the tragic news of Steve Jobs' death broke, people began wondering what would become of the Apple co-founder and innovator extraordinaire's fortune. Forbes recently estimated Jobs’ wealth at $7 billion. According to legacy expert attorneys Andy and Danielle Mayoras, it appears Jobs had his estate planning act together.

The director of the MetLife Mature Market Institute discusses how financial advisors can best serve baby boomers.

Whether it's simple or not, retirement plans are suddenly important to small business owners.

Taxpayers Beware: Gifts to charities have come under IRS scrutiny.

An auction of the deceased actor’s memorabilia, clothes and other property recently garnered more than $1 million but none of his five children, including actress Jamie Lee Curtis, have yet to receive a dime. And, from most indications, that’s exactly the way the “Some Like It Hot” star wanted it.