This week’s blog is written by guest author, Lyle Solomon, principal attorney with Oak View Law Group. We all want to be remembered for doing good. If you’ve been fortunate enough to acquire wealth and wish to do something with it beyond leaving it to your beneficiaries, then a charitable trust may be for you.…
This week’s blog is written by guest author, Lyle Solomon, principal attorney with Oak View Law Group. Trusts can be broadly classified into four distinct types. They are divided based on when they become effective and who the owner of the assets is. The four types of trusts are living, testamentary, revocable and irrevocable.…
This week’s blog is written by guest author, Lyle Solomon, principal attorney with Oak View Law Group. Although drafting a trust can be quite complex, the basic concept of a trust is relatively easy to understand. In simple words, it means that a person is holding property for another person’s benefit. What is trust?…
All couples argue, but what are couples fighting about the most? According to a survey from the American Institute of CPAs, money is the most common reason married or cohabiting couples fight. Of more than 1,000 American adults polled, 27 percent of participants said that disagreements over finances were most likely to erupt into an…
When is it too young to talk about money? Maaaaaybe before age 3. But from age 3-5 kids already understand the idea of exchanging things of value. In fact, a survey out of University of Cambridge concluded that, by age 7, many money habits are set, which means it’s essential to start early. Here are…
A while ago, I suffered the indignity of having my car break down on me! It wasn’t a bad experience at all…people kept stopping to ask if I needed help; it was a rare, sunny Seattle day; and other than missing a phone appointment I had been looking forward to, nothing in my schedule was…
If you knew everything was going to be okay, what would you do differently with your money? Now, please don’t take this as everything-is-going-to-be-okay-so-I-bear-no-personal-responsibility-for-anything. I am NOT talking about a universal, get-out-of-jail-free card…I am talking about wisdom. Wisdom is what you acquire when you’ve been around long enough to screw up multiple times, and you’re…
Do you trust yourself to know what is the right thing to do with your money? Yes, this is why some people choose to consult a financial planner…but what if the financial planner’s advice doesn’t feel right to you? Do you trust yourself enough to NOT follow their advice? Can you separate another person’s agenda…
How are your New Year’s resolutions going? Still have them? If you do, I bet you’ve been tweaking them as you go, which is a good thing. Resolutions always seem judgmental to me. A lot of them are built on guilt and shame over having done something “wrong” – like whatever our natural instincts are,…
Have you heard that old adage? The one that states that “if you find yourself in a hole, stop digging”? Digging makes it deeper and therefore harder to get back out, which is used as a metaphor that when in an untenable position, it is best to stop carrying on and exacerbating the situation. Here’s…
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