The Wealth & Wisdom Blog

Information on Estate Planning, Estate and Trust Administration and Unique Asset Planning

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Controlling the Narrative of Your Legacy

How will you like to be remembered?  What will be the defining element of your legacy? Since his death, George Floyd’s name has become synonymous with a global call to address systemic racism.  Millions of people around the world have spoken out and marched in an effort to address systematic racism.  At a personal level, […]

Legacy Letters

A family legacy letter, also known as an “Ethical Will,” is a non-legal document that provides surviving family members with one’s wishes and directions for leaving behind a relational, spiritual, and family legacy.  While it is critically important to have one’s legal and financial affairs in order, creating a legal estate plan is only one […]

Benefits of Donor Advised Funds

A donor advised fund (“DAF”) is a charitable planning vehicle that is established through and administered by a public charity. While the assets contributed to a DAF are legally owned by the public charity, the charity generally administers the contributed assets in accordance with an agreement established between the donor and the public charity. When […]

Family Vision Statement

A Family Vision Statement can be any non-legal written direction made by a “senior generation” (e.g., mom and dad) to the named beneficiaries of the senior generation’s legal estate plan detailing how an inheritance should be used following death.  The Statement is directed towards whomever is receiving the inheritance, whether children, grandchildren, nieces, nephews, siblings […]

Outright vs. Testamentary Gifts

You can choose to benefit a child or other beneficiary through one of two means: (1) through an “outright” gift, or (2) to an ongoing “testamentary trust” for the benefit of the child or other beneficiary.  We assist our clients understand the pros and cons of each approach, as it is critically important to understand […]