Next of Kin vs. Beneficiary: Their Difference in Estate Planning
Next of Kin vs. Beneficiary; what’s the difference? Two essential terms in the world of estate planning are “next of kin” and “beneficiary.” While they are often used interchangeably, they play distinct roles in the legal and financial landscape. In this blog post, we will clarify the meaning of these terms, explore their differences, and […]
How Michael Jackson Saved his Family With An Estate Plan
According to reports, Michael Jackson left 40% of his estate in a Trust to his three children: Prince Michael (12 years old, Paris (11 years old), and Prince Michael II (7 years old). He left another 40% of his estate to Katherine, his mother; and the remaining 20%? He dedicated to various children’s charity organizations. […]
The Importance of Estate Planning: Lessons from Chadwick Boseman’s Legacy
On August 28, 2020, the world mourned the loss of the talented actor Chadwick Boseman, best known for his iconic portrayal of “Black Panther.” As fans celebrated his remarkable talent, it was revealed that Boseman had passed away without a will, a situation known as dying “intestate.” This unfortunate circumstance highlights the critical need for […]
Ask Shade: Help! My Late Father’s Brother is About to Sell His Properties
Dear Shade, My name is Kamsi, and I am an 18-year-old undergrad. We lost Dad six months ago and my uncles, Dad’s brothers, who used to be nice to us changed overnight. I still remember them issuing us a 3-week ultimatum to vacate our house so they could put it up for sale. My own […]
Ask Shade About Trusts: Our Son Doesn’t Want to Continue the Family Business
Hello Shade, I need your help. My wife and I have worked hard building our business with hopes that our son would one day join the business and eventually own it when we are retired. We sent him to a business school abroad only for him to return with a photography degree. He is our […]
Ask Shade About Trusts: He Doesn’t Know It’s Not ‘Our’ House
I have a house, me and my husband are living in currently. It was given to me by my father and I managed to convince my husband that we should live here in town rather than a far place from both our work. I lied to my husband that it was a gift from my […]
Ask Shade About Trusts: My Mum Just Found Love Again! But How Do I Protect My Future?
By setting up a trust, your mother can ensure that the fashion line is passed on to you at her death, even though she retains full control while she is alive. She can name beneficiaries of the trust and include her new spouse so as to achieve some balance. Hello Shade, For five years […]