Being named the executor of a family member’s (or other loved one’s) estate is, in many ways, an honor. The decision shows that the person saw you as a highly trustworthy, capable person of integrity. But it’s also a major responsibility that can quickly become a burden if you aren’t set-up to do your job
Many successful families use Trust’s to minimize taxes, transfer wealth and protect assets from creditors and others. You may have already set-up a Trust, or you may hold an inheritance you received in a Trust that was created decades ago. Trouble is, too many families relinquish more control over their Trust’s than they need to,
What would happen if you or your child caused a car accident that resulted in serious injuries or the deaths of others? How would you pay for the treatment and damage of someone who was hurt in your home and claimed negligence? What happens when they claim to have suffered greatly because of the injury?
Inheriting money comes with plenty of benefits. From being less worried about paying for life’s necessities to enjoying the luxuries affluence can bring, inheritors often find that many of life’s key stumbling blocks are no longer in their paths. That said, an inheritance doesn’t automatically mean a worry-free life of ease. Inheriting wealth can actually
A key objective among many single-family offices serving Super Rich families (those with a net-worth of at least $500 Million) is to enable future generations of family members to build their own wealth and create their own entrepreneurial legacies. With that in mind, the Super Rich are embracing ways to develop the business acumen of