How Rio Concho’s director ended up with the bulk of Mrs. Fisher’s estate and not her nieces and nephews named in earlier wills, is the nucleus of Chandler’s argument.
Even if your asset base doesn’t measure up to the Bill Gates standard, you may consider using trusts in estate planning. This is because they can help your heirs in many different ways.
Running and owning a business is just like raising a child: Both are investments in the future, and both require a lot of time, resources and effort to raise successfully. One can argue that you would treat your business like you’d treat a child; you’d want it to succeed even after you’ve passed on or retired.
A new law could affect the IRAs and 401(k)s of millions of Americans in 2020.