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Waldron Private Wealth
Casey Robinson is a wealth counselor at Waldron Private Wealth, a boutique wealth management firm located just outside Pittsburgh, Pa. He focuses on simplifying the complexities of wealth for a select group of individuals, families and family offices. Robinson has extensive experience assisting multi-generational families to develop comprehensive estate planning strategies, integrating trusts, tax planning and risk management to support their unique long term goals.
Depending on how much money you have, you likely fit into one of three wealth categories. Each has its own special financial planning needs, and it's important to work with an adviser prepared to serve them.
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Setting up joint accounts between parents and children may seem like an effective way to prepare in case of emergency or if people need help with finances as they get older, but it can cause some big tax and estate problems. Here's a dual strategy to consider instead.
Writing a will is probably not something you want to do more than once. So, if things have changed since you finished the process, and you don't want to start over, you could consider crafting a codicil instead.
Once you've written your will, pat yourself on the back. Then get back to work to spell out your wishes on what could be far more important than how your assets are divided. Your family's harmony could be a stake.
Before you pump money into a 529 College Savings Plan, make sure you have three important boxes checked. And even after you check those boxes, you might want to consider the alternatives.
Complex estates require multiple layers of protection, but even estates that aren't very complicated can be protected by using these four best practices.
To set your children up for success, money isn't the only factor. Parents have some major money lessons to teach, or they risk a rocky wealth transfer.
A trust is a valuable tool to leave a legacy and plan for taxes, but only if you set it up so that it works just as you intended. Unfortunately, people tend to make one very common, and basic, mistake.
Most people hate reviewing their estate plans, and I can’t say I blame them. From tax law and complex documents, to trusts and health care directives, the intricacies can be daunting. Plus, talking about ...
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If it's been a few years since you completed your estate plan, chances are your documents could need some serious updating. Here are some key areas of your estate where potentially perilous gaps can crop up.