Tag Archives: estate tax

How to Create An Estate With No Assets

Retirement & Estate Planning, , , , , , ,

Ruthann looked in the rear-view mirror to see why her two children had suddenly gone silent. Just a few minutes ago, her five-year-old twins in the back seat had been arguing about which one had run faster at their school’s sports day. Their quarrelling had taken its toll; they were now fast asleep.

Thankful for the brief respite, Ruthann smiled as she reminisced on her children’s antics. Despite their hyperactivity, they both performed well at school and she was proud of their achievements. She looked forward to seeing them become accomplished adults in the future.

As she daydreamed about the years to come, Ruthann’s brow grew furrowed as the familiar fears crept through her mind. She often worried about what would happen to her kids if something untoward happened to her. Once again, she was gripped by an overwhelming sense of panic. Continue reading How to Create An Estate With No Assets →

Passing on Your Money

Retirement & Estate Planning, , , ,

“Don’t cling to fame. You’re just borrowing it. It’s like money. You’re going to die, and somebody else is going to get it.” – Sonny Bono

Last week we looked at the harsh reality that regardless of our current financial position, one day we will all pass on and leave our earthly possessions behind. Whether the transition of our assets is smooth or chaotic will depend on what plans we have put in place for them while we’re alive.

Although we may not like to think about it, estate planning is an important part of managing our finances. It involves making provisions to administer and transfer our money and property when we have died, so that our wealth is preserved and passed on according to our wishes. Continue reading Passing on Your Money →