If there’s no planning at all: Without a beneficiary, will, or trust, the probate court appoints an administrator to handle everything. This person distributes assets according to your state’s intestacy laws — not the deceased person’s wishes. The process typically takes six months to over a year and can cost $1,500 to $7,000 or more in court and attorney fees.If there’s a trust with a trustee: A revocable living trust bypasses probate entirely. The trustee (the person managing the trust’s assets) can distr ...

There is a limit to how much wealth individuals can pass to others without tax consequences. As of 2026, during their lifetime, an individual can transfer up to about $15 million tax-free to their heirs without paying federal taxes. Any amount above those limits will be taxed.There are certain tax rules to keep in mind regarding transfers of wealth. They will impact how much beneficiaries receive and influence the inheritance strategies families implement."Millennials and Gen X will inherit the largest shar ...

Quick Read S&P 500 (SPY) investments have nearly quadrupled over the past decade. Roth accounts preserve all gains tax-free while taxable accounts lose roughly 15% to capital gains. Roth IRAs allow S&P 500 gains to compound indefinitely without required minimum distributions mandated by traditional IRAs at age 73. Annual Roth IRA contributions max out at $7,500 in 2026. Single filers earning over $168,000 lose direct contribution eligibility. A recent study identified one single habit that doubled ...

“I had suggested charging him 2% per annum interest on any sums advanced.” (Photo subject is a model.) - Getty Images/iStockphoto Dear Quentin, I have been managing my widowed mother’s finances for the past few years. She is 90 years old and her trust consists of a home, an IRA that I am trying to gradually wind down over the next five years, and other holdings, mostly Treasurys. The trust is to be divided among my sister, my brother and me, with my sister receiving 44% of the estate and my brother and I ...

Brian Hill sells shares for estate planning, investment diversification and charitable giving purposes Remains Aritzia’s largest shareholder with approximately 15.9% equity interest NOT FOR DISTRIBUTION IN THE UNITED STATES VANCOUVER, British Columbia, Jan. 13, 2026 (GLOBE NEWSWIRE) -- Aritzia Inc. ("Aritzia" or the "Company") (TSX: ATZ), a design house with an innovative global platform offering Everyday Luxury online and in its boutiques, today announced that Brian Hill, Founder and Executive Chair of Ar ...

Debt can be a powerful vehicle for building wealth, but only if you have enough time to take advantage of the leverage that debt provides and turn it into a profit. Taking on significant debt just before retirement only invites disaster.You stuck to your investment strategy so far, don’t give up just before the finish line.Do not let yourself be convinced to invest in risky or new ventures. While you might get lucky and make a lot of money, you have to weigh that possibility against losing it all. There are ...

Group 1 - The article discusses the perception of wealth in America, highlighting that even with $4 million in retirement savings, individuals may still feel middle class due to high living costs and taxes [4] - Concerns over the job market, interest rates, and inflation have influenced stock market performance, particularly noting a downturn in April [2] - Popular columns reflect readers' engagement with personal finance issues, particularly related to family dynamics and financial disputes, rather than broader economic topics [3] Group 2 - The most read letters include inquiries about inheritance disputes and financial inequality affecting friendships, indicating a strong interest in personal financial management and social implications [5]

Singapore, Singapore--(Newsfile Corp. - December 31, 2025) - This news release is issued by Robert M. Friedland to provide an update regarding his holdings of class A common shares ("common shares") in Ivanhoe Mines Ltd. ("Ivanhoe Mines") following transactions that were previously disclosed on December 31, 2024. In connection with personal financing transactions (collectively, the "Transactions") entered into by Mr. Friedland with a third-party U.S. commercial bank (the "Financial Institution") and previo ...

Core Insights - The article discusses the complexities faced by homeowners, particularly retirees, when considering the sale of a property held in an irrevocable trust, highlighting the implications for asset management and inheritance [1][2]. Group 1: Irrevocable Trust Overview - An irrevocable trust is a legal arrangement where ownership of an asset, such as a house, is transferred to a separate legal entity, meaning the trust legally owns the asset [3]. - The grantor creates the trust, while beneficiaries receive the benefits, and trustees manage the trust's assets [3]. - Unlike revocable trusts, irrevocable trusts cannot be changed or canceled without the agreement of all beneficiaries or court approval, indicating a significant loss of control for the grantor [4]. Group 2: Reasons for Using Irrevocable Trusts - Homeowners often utilize irrevocable trusts for various reasons, including asset protection from creditors or lawsuits, estate planning to reduce estate taxes, and Medicaid planning to exclude a home from eligibility calculations if established before the look-back period [5].

Core Insights - Retirement planning is complex, and small mistakes can have significant long-term consequences [1] Group 1: Common Retirement Mistakes - Not maximizing Social Security benefits can impact overall retirement income; delaying benefits can lead to higher lifetime income and enhance survivor benefits [3] - Completely abandoning work in retirement may lead to a lack of fulfillment; staying engaged through part-time work or volunteering can provide meaning and potential tax advantages [4] - Delaying estate planning can result in government control over assets; essential documents like wills and trusts are necessary to avoid costly probate and protect assets [5] Group 2: Preparing for Longevity and Inflation - Longevity poses a significant risk; planning should account for both spouses potentially living to 100 years old to ensure portfolios can withstand market volatility [5] - Equities can serve as a hedge against inflation, emphasizing the need for a long-term financial strategy [5] - A personalized financial plan is crucial for forecasting costs and protecting assets, with a wealth management team that understands family dynamics being essential [6]