Discourage ‘Paris Hilton Syndrome’: A Guide to Smart Inheritance Planning

If you’re like me, the unity of your family is important! Inheritances may not be everyone’s favorite subject, but planning now will yield can greatly benefit the whole family in the future. So what does Paris Hilton have to do with it? Well, we cringe when we see what Paris Hilton and others have done with their inheritance. Think about how you would feel, if she were your granddaughter and…

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The “hidden” IRA/401(k) estate tax

In the 1983 hit film, Trading Places, starring Dan Aykroyd and Eddie Murphy, Aykroyd’s character, Winthorpe, is haggling with a pawnshop owner over the value of the watch he is desperately trying to pawn in order to get cash. When the pawnshop owner offers $50 dollars, Winthorpe indignantly says, “This is a Roche Vouceau. The thinnest water-resistant watch in the world. Singularly unique, sculptured in design, handcrafted in Switzerland,…

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Groucho had the money, lost his dignity

Due to failing health in old age, Groucho Marx’s family decided that they should make his decisions for him. The story goes that family took him to court and wrestled decision-making control from him. For the rest of his life, his decisions were not his. He lost flexibility. He lost control. Worse, he lost personal dignity, even though he had enough money. How would that feel? Have you protected…

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Is your money operating at highway efficiency?

Where does your car operate at peak performance? Highway, right? At what speed? 55 miles per hour, right? Is your money operating at “highway efficiency?” Some employees at a tire store in Florida made an unusual discovery in customer’s vehicle. He said there was an unusual noise coming from his engine. The employees put the car on the rack and immediately heard a crying sound. It was a kitten….

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