1. Alert the Bank Alert the company that is associated with the compromised information. Notify them of the situation and ask to freeze any affected accounts. Be sure to change all log in information and PIN numbers to ensure security.
When you think of your estate plan and what’s important for you to protect after your death, it’s likely that your immediate worries center on your assets with the highest financial or sentimental value—your bank, investment and retirement accounts, home, precious jewelry, family heirlooms and expensive cars or boats. It’s important to protect these things, as they can provide significant financial assistance to your family or to charitable organizations. However, in today’s digital age, focusing only on your largest valuables may cause you to overlook things that you likely use every day, yet never think of in terms of estate planning—your digital assets.
The legal end of a marriage often sparks disagreements over power of attorney or property distribution. Many people assume that legal powers granted to a spouse end at the start of a divorce; however, they actually last until...
Discover how to maximize your giving by using charitable giving methods that allow you to grow your donation through investment.
Contributing part of your estate to charity may be something that you and your family strongly believe in, whether or not you receive any benefit from it. Although generosity is the driving force behind philanthropy, there are also many benefits that a donor can reap from making charitable contributions. Philanthropy is an important aspect of generational wealth transfer
There are many facets to consider when planning your family’s wealth transfer. These 10 best practices will help you stay focused on how to execute the most efficient transfer possible.
Think of monetary wealth as part of a larger picture. Although monetary wealth is important for your family’s security, it’s important to consider monetary assets as part of a larger family legacy. A successful transfer of wealth should also include family values, stories and traditions. Wealth transfer means not only uniting your family behind your...
Values can help determine goals & a clear purpose.
Some millionaires are reluctant to talk to their kids about family wealth. Perhaps they are afraid what their heirs may do with it.
It can be awkward to talk about such matters, but these parents likely postponed discussing this topic for another reason: they wanted their kids to grow up with a strong work ethic instead of a “wealth ethic.”
We will all leave this world sometime. Why leave unanswered questions with those we love?
We all want to live a significant, successful life. Yet how many of us realize that our important, positive contributions can last long after we are gone?
Two things are certain: death and taxes. Some of us grasp that reality early, so we create wills, living trusts and estate plans. Others deny this reality and leave their heirs with perplexing questions, added...