The biggest Powerball jackpot to date was $1.586 billion in January 2016, according to the Associated Press. That same year, the North American Association of State and Provincial Lotteries reported that national ticket sales reached $80 billion, which was more than sales from entertainment, gaming, and sports events combined. Everyone dreams of winning the next Powerball lottery. But as the winnings continue to grow into billions and the odds shrink […]
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The substantial majority of millionaires have earned their money through entrepreneurial pursuits rather than through inheritances and protecting their money for the present and building a legacy for future generations. Some have a misconception that the ultra-rich do nothing but spend money. In reality, many are frugal, choosing instead to place their funds in investments that will continue to grow. Common investment strategies favored by millionaires and billionaires include putting […]
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Whether you want to donate money as a budding philanthropist, avoid taxes or diversify your investment portfolio, Charitable Remainder Trusts (CRTs) can be a good way to accomplish all three goals at once. Before creating a CRT, it can be helpful to have a basic understanding of how they work and the terms. An Overview Of Charitable Remainder Trusts When you create a CRT, you will first choose the trust’s […]
Continue readingIf you are a business owner — or if you run a professional practice — it is very important that you do not put off your estate planning. Getting the results you need and protecting both your business and your family’s wealth often takes years of preparation and planning; many experts suggest starting a decade in advance. The reasoning is that your business probably accounts for a significant percentage of your […]
Continue readingWhen you have a sizable estate, creating a trust for your minor children makes sense. It controls how the money is distributed and keeps the burden of money management off their small shoulders. When your child is an adult, creating a trust for him or her may not seem as necessary. However, being over the age of 18 does not guarantee your child is great with money. Even for someone […]
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