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 […]
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 […]
What does ‘Next of Kin’ mean?
You most likely do not need to think about it anymore, you already know whose name to write every time you are required to name your Next of Kin. But have you ever thought about it? When you name a person Next of Kin, how much authority are you giving to that person, what should […]