If you’re one of the richest people in the world, a lot of your wealth is probably in trusts. (via @opinion) https://t.co/ysnLghyzNs ...

Just over 3,000 known billionaires exist today, according to Forbes. It’s an impressive number, especially considering there were just 2,000 billionaires in 2017. If you’ve ever wondered how the ultra-wealthy protect their wealth, you might be surprised to find that many of the same strategies they use are applicable to your own life. You don’t have to have a 10-figure net worth. For You: The Estate Planning Secret the IRS Doesn’t Want You To Know, According To John Liang Try This: Use This Checklist To ...

Estate Planning - Trusts are important for estate planning, especially for high-net-worth individuals [1] - Family offices utilize trusts to mitigate estate taxes [1] - Estate taxes are not a primary concern for sophisticated investors due to trust utilization [1]

Estate Planning Basics - Estate planning is an emotional process requiring organization and key documents [1] - Core estate planning documents include power of attorney, health care proxy, living will, and last will and testament [1] - Strategic gifting can impact estate taxes [1] - Estate plans should be revisited periodically [1] Key Documents & Considerations - Power of attorney allows someone to act on your behalf [1] - A health care proxy designates someone to make health care decisions [1] - A living will outlines your wishes for medical treatment [1] - A last will and testament outlines how your assets will be distributed, probate may be required [1] - Wills and trusts serve different purposes in estate planning [1] Resources - Fidelity provides resources for creating an estate plan and avoiding common pitfalls [1] - Money Unscripted releases new episodes bi-weekly on Tuesdays [1]

General Observation - British trusts, companies, and partnerships remain attractive to financial wrongdoers [1]