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Weiss Education Articles

Weiss Education April 2017

Weiss-April2017

An Estate Without a Plan is Just a Wish

As promised in my last article, over the next several weeks I will provide a glimpse into my Special Report, The 10 Most Common Estate Planning Mistakes and How to Avoid Them. 

In this segment I will unveil the first mistake and a few solutions.  To order the complete report click here.

Mistake 1:

Failure to have any plan at all, or having an antiquated or improper plan.

 Heir to the throne.

Read more: Weiss Education April 2017

Weiss Education March 2017

Weiss-April2017

Estate Planning and What to Do Now That Trump is President?

Do you remember the short story of Rip Van Winkle as told by George Washington Irving?  Van Winkle goes to sleep after a game of bowling and much drinking in the mountains with a band of dwarves.

He awakens twenty years later, an old man. Back home, Rip finds that all has changed: his wife is dead, his daughter is married, and the American Revolutionary War has taken place.

Since the passage of the Taxpayer’s Relief Act of 2012 and now with President Trump’s surprising victory, the majority of wealthy Americans are using Rip Van Winkle as their role model.

It seems that because estate taxation rules have been and will continue to be in flux, they have been content to sleep it off and wait until they wake up to do any estate planning.  BIG MISTAKE!

First and foremost, estate planning is the premeditated decision to determine who gets what, when they get it, and how they get it.  It is a true act of love and respect for those we leave behind.  But if it is so important, why do 72% of today’s affluent avoid estate planning altogether?

There is a litany of reasons, but top on the list is procrastination.  Estate planning isn’t an exciting task – that’s true – but it’s vital to the sanctity of the family.  Archeologists have proven the ancient Egyptians wrong – YOU CAN’T TAKE IT WITH YOU!  We all need an estate plan.

Read more: Weiss Education March 2017

Weiss Education May 2017

Weiss-April2017

The Shell Game

As promised in my earlier articles, over the next few months I will continue to share a portion of my Special Report, The 10 Most Common Estate Planning Mistakes and How To Avoid Them. 

In this segment I will cover the second most common mistake people repeatedly make.

To order the complete report click here.

Mistake 2:

Failure to have any plan at all, or having an antiquated or improper plan.

Believing that politicians will pass legislation that will permanently absolve me from any responsibility to properly plan my estate.

As a young boy growing up in Sacramento we would go the State Fair every year.  The whole experience still is one of my fondest memories as a kid.

The corn dogs, cotton candy, the animals, the rides and the games.  One game in particular was more intriguing to me than the rest.  It was the Shell Game.

The game dates back to Ancient Greece and can be seen being played today on the streets of most major cities throughout the world.

In the Shell Game, three or more walnut shells, cups, or bottle caps are placed face-down on a surface.  A small ball or pea seed is placed under the shell and shuffled by the shark in plain view.  One or more players are invited to bet on which shell is hiding the pea.

Read more: Weiss Education May 2017 

Weiss Education June 2017

Weiss-April2017

Blindly Leaving Everything to Your Spouse Because of "Portability"

June 26, 2017

As promised in my earlier articles, over the next few months I will continue to share a portion of my Special Report, The 10 Most Common Estate Planning Mistakes and How To Avoid Them in my monthly column.

In this segment I will cover the third most common mistake people repeatedly make. To order the complete report click here

Read more: Weiss Education June 2017 

Weiss Education July 2017

Weiss-April2017

How to Avoid Paying Too Much Income and Capital Gains Tax

July 28, 2017

The other evening I had a meeting with several highly successful businessmen. As with most lengthy conversation we ended up taking about politics.

It was a multi-party group and no one verbalized their specific political agenda. We were there to discuss the future of the world economy.

One of the attendees asked the moderator the question that appeared to be on everyone's mind, "Do you think President Trump will be able to achieve his stated goals during the next three years, especially his tax reform strategy?"

I found the moderator’s answer troubling: "No, because the Republican Party is divided into four groups and they can't agree on anything. It's a stalemate. A hung jury."

Read more: Weiss Education July 2017  

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