A living trust is a popular consideration in many estate strategy conversations, but its appropriateness will depend upon your individual needs and objectives.
Category: Planning for the Family
Last Wishes – Put Them in a Letter
Actor Lee Marvin once said, “As soon as people see my face on a movie screen, they [know] two things: first, I’m not going to get the girl, and second, I’ll get a cheap funeral before the picture is over.”
Most people don’t spend too much time thinking about their own funeral, and yet, many of us have a vision about our memorial service or the handling of our remains. A letter of instruction can help you accomplish that goal.
Critical Elements of an Estate Plan
We talk a lot about estate planning because taking steps to help protect your estate is a key financial choice. With proper strategies, you may be able to maximize your opportunities and help manage stress and confusion for your loved ones. Yet, approximately 50% of 50 year olds don’t have a will in place — despite the fact that almost 60% of Americans plan to leave an inheritance.
Taking time to create estate strategies not only helps you put your financial house in order, but can also save you money. By documenting your wishes and goals, you create a legal framework that the courts, your executor, and your loved ones can follow when settling your estate. Without these strategies in place, your family risks going through a lengthy and expensive process — which could alter any wishes you had for your legacy.
When Children Earn a Paycheck – Q&A with Mama Meredith Part III
By Jessica Searcy Kmetty
In Part I of this blog series, we introduced you to Meredith, a self-described community creator, home curator, minimalist, hipster mama who is raising 3 “wonderful wilds” in NYC. We talked about how she manages finances for her family, how she and her husband discuss their money scripts, and her philosophy on debt and spending. In Part II, we talked about her family’s “no-spend” months and how you could incorporate them into your life. In Part III, we’re going to hear more about her children, all of whom are employed.
How to Keep Your Money in Your Family
Whether you have your family in mind, or lifelong friends, you want their futures to be safe and secure. You want the people you love to prosper in life. And what better way to show your devotion and appreciation than by ensuring your hard-earned money and investments go to them—after your passing?
So, how do you keep your money in your family or within your circle of closest friends rather than lost to legal fees or government portions?
No-Spend November (Or Any Other Month You Please) – Q&A with Mama Meredith, Part II
By Jessica Searcy Kmetty
In Part I of this blog series, we introduced you to Meredith, a self-described community creator, home curator, minimalist, hipster mama who is raising 3 “wonderful wilds” in NYC. We talked about how she manages finances for her family, how she and her husband discuss their money scripts, and her philosophy on debt and spending. In Part II, we’re going to dive deeper into something she has been trying out with her family – no spend months.
Planning Ahead – National Preparedness Month
The Cambridge Dictionary defines “prepare” as making or getting ready for something that will happen in the future. It also states: “to expect that something will happen and to be ready for it.”
A capricious planet Earth makes natural disasters inevitable. Some years are worse than others, and relatively brief stretches of recorded history demonstrate the ferocity nature can superimpose on unsuspecting civilizations.
How to Write a Family Novel – and Why!
Three generations. That’s all you have. And then you’ll be forgotten. Completely. Only your name may remain. Memories of you will have long since passed into the annals of parochial history.
“There is no remembrance of those who came before; and of those who will come after there will also be no remembrance,” wrote Solomon thousands of years ago.
Managing Finances for a Family – Q&A with Mama Meredith, Part I
By Jessica Searcy Kmetty
It’s always interesting to hear how other people approach life and finances, especially when they have a strong philosophy to share. A Midwest gal living and raising a family in NYC? Debt avoidance? No-spending months? Children who earn livings by modeling? Sounds like an interesting story to me!
Our guest Meredith is a self-described community creator, home curator, minimalist, hipster mama who is raising 3 “wonderful wilds” in NYC.
When I sat down to introduce you readers to Meredith and share some of her stories and philosophies about money and life, many ideas came to mind. But in the end, I decided she told her story better than anyone and there wasn’t much you needed to hear from me. So, enjoy this peek into our conversation:
Building an Intentional Legacy
Many people would like to leave a mark on the world, whether large or small, in the form of their legacy. Whatever your passions in life–from philanthropy to family–your legacy should reflect these passions. At its core, a legacy is built on your personal values and how you choose to share those values to make an impact on the world. Your legacy also comprises your experiences as a person. Sharing your memories, stories, and perspectives with family members can connect them to your values and familial history.
Furthermore, a legacy isn’t just what’s left behind when you’re gone; it can be a part of creating a purposeful and satisfying life for yourself, and your family, in the present. Comprehensive legacy planning allows you to not only transfer wealth but to intentionally pass down values, memories, and traditions. In this piece, we discuss the importance of consciously creating a legacy based on your values and show you some steps to help you get started.