When estate planning is done in such a vacuum, even if your assets set up to take care of your family over time, the result will be devoid of the heart and history that went into the construction of it. Much like the legendary Library at Alexandria which housed countless volumes of priceless information, your life has been built with the hard-earned lessons and experiences that have been instrumental in making you who you are. When your descendants know where they come from and the kind of strength that lies behind them, they are empowered to move forward in the same spirit that brought them to this point.
The opportunity for preparation is lost once the crisis has begun. It is vital to have certain legal and medical emergency documents in place before you need them, so that when you need them, you are ready. This list is a resource you can use to identify for yourself what emergency documents you and your family will need. There are five specific things you can do to prepare your emergency documents so that you will not fear.
Typical estate planning focuses on avoiding the problems that arise at the point of death. Dynasty Estate Planning focuses on avoiding the problems that arise next, after avoiding probate and estate taxes. There are seven hallmarks of a Dynasty Estate Plan.
Qualified Charitable Distributions from IRA accounts are a win-win. Go ahead. Make that charitable gift in a way that maximizes the amount going to charity and minimizes the amount going to taxes for the politicians to play with. Who do you trust more to do good things with your money, your favorite charity or the politicians?