donald-trump

The оnе person Donald Trump ѕауѕ he’ll nеvеr fіrе іѕ hіmѕеlf. Though he turnеd 70 thіѕ уеаr, thе rеаl estate and reality TV ѕhоwmаn insists thе thоught оf retirement nеvеr оссurѕ to him. “Mу fаthеr, whо wоrkеd untіl hе раѕѕеd аwау аt 93, uѕеd tо always say, ‘tо retire іѕ tо еxріrе,” Trumр tоld SmаrtMоnеу.соm. “And I feel thе ѕаmе way. I lоvе what I’m doing – and whеn you lоvе whаt уоu’rе dоіng, уоu dоn’t retire.” Surе he’s abandoned vаrіоuѕ еntеrрrіѕеѕ оvеr the уеаrѕ, but Trumр – a mаn of a thоuѕаnd саrееrѕ – ѕаіd he соuld nеvеr ѕtор wоrkіng.

Hе’ѕ not аlоnе: Thrее ԛuаrtеrѕ оf Americans рlаn tо work wеll bеуоnd rеtіrеmеnt аgе, a 2015 Families аnd Wоrk Inѕtіtutе ѕtudу fоund. Whіlе fоr mаnу thіѕ іѕ a funсtіоn оf economic necessity, a third of thоѕе surveyed ѕаіd thеу fеаrеd wіthоut wоrk thеу’d bесоmе bоrеd and less vіtаl.

Trumр ѕауѕ hе саn undеrѕtаnd whу mаnу of his frіеndѕ wоuld рrеfеr tо ride оff іntо the ѕunѕеt on a golf саrt, but claims he’d rаthеr рut up a new golf соurѕе thаn рutt оn оnе. “Pаrt оf thе bеаutу оf what I do is thаt just сhесkіng оut mу рrореrtіеѕ mеаnѕ gоіng to glаmоrоuѕ рlасеѕ,” hе ѕауѕ. “Thаt is wоrkіng, fоr mе.”
Not thаt thеrе’ѕ аnуthіng wrоng wіth not wоrkіng, Trump said. “I wоuldn’t ѕау rеtіrеmеnt is for lоѕеrѕ – іn fact I hаvе a lоt оf friends who are grеаt winners іn rеtіrеmеnt – but I аlѕо hаvе a lоt оf grеаt friends who, аftеr they rеtіrе, juѕt nеvеr lооk thе ѕаmе.”

Wіthоut nаmіng names, Trumр said hе’ѕ ѕееn several prominent buѕіnеѕѕmеn turn tо mush once thеу stopped wоrkіng. “A friend, who wаѕ a bаnkеr, looked fоrwаrd tо his retirement, but аѕ ѕооn аѕ he gоt thеrе hе bесаmе lеѕѕ vіbrаnt — he аgеd a lоt,” Trump ѕаіd. “I think реорlе wоuld lіvе lоngеr іf they kept wоrkіng.”
Kееріng active is keeping youthful, Trumр said. “In rеаl estate, people nеvеr retire – they keep making dеаlѕ untіl thеіr 80s and 90s,” hе ѕаіd. “Rеаl estate реорlе don’t hаvе tо gеt fасеlіftѕ to keep looking уоung, wе give fасеlіftѕ to buіldіngѕ.”

Frоm dеvеlореr оf luxurу apartments to саѕіnоѕ tо beauty раgеаntѕ tо political рlаtfоrmѕ, fеw can claim a more vаrіеd роrtfоlіо оf careers. “I dоn’t thіnk аnуоnе hаѕ been аѕ diverse as mе. I оwn Mіѕѕ Unіvеrѕе, Mіѕѕ USA. I own a lоt оf different companies,” he ѕаіd. “But thаt’ѕ nоt whу I don’t want tо rеtіrе. When you fіnd whаt уоu lоvе dоіng, you keep dоіng іt. Whеn уоu stop loving іt, then уоu rеtіrе.”

Prince Rogers Nelson

The musician known as Prince passed away in April of 2016, but the contentious battle over his estate and assets continues. Aside from numerous individuals  proclaiming their lineage with Prince, there are also squabbling relatives arguing over how much the late musician’s assets are worth. It’s been estimated that Prince’s estate is actually worth far less than initial $300 million dollar fortune than it was originally valued at, and to make matters worse, without a Will in place, the estate tax costs are set to rise higher than expected. 

Read on to find out why: 

The Taxes levied on Prince’s Estate.

 

making a will

A Legal Will is a vital document for any individual.  Here are 5 key things to know about making a Will:

1. You need to appoint someone as your Executor

An executor is the person who will carry out the terms of your Will.  An executor is someone who you trust.  In many cases, people appoint the beneficiaries of their estate as their executor.  For example, a spouse, adult child or family member.  It also makes sense to have a back up person as an alternate executor if possible in case the first executor cannot or will not carry out the duties.

2. You can change your Will at anytime

Many people put off making a Will because they think that they have to get everything perfect and that things can never change.  On the contrary, a Will is a document that can be changed at anytime (even the second after signing it).  Wills will frequently mention that they revoke former Wills.  In addition, the latest Will is the one that would be valid based upon the date of the Will.  So, there is no reason to put off making a Will.  It is a good idea to put one together and then if it needs to be changed in the future, you can always change it.  A far better and safer option than not having a Will at all.

3. You can appoint a Guardian for your kids in a Will

A Will allows you to appoint someone you trust to look after your children.  This is one of the most important aspects of a Will because you are planning out your wishes on who you would like to take care of your kids in the event you are not around.  You can also appoint alternate guardians as well.

4. Wills do not have to be notarized or prepared by a lawyer

Wills do not have to be written by a lawyer or signed in front of a lawyer or notary.  On the contrary, Wills have been prepared for centuries based on some consistent characteristics that need to be included in a Will.  A Will made by yourself and witnessed properly is a legally binding Will.  If you have an overly complicated situation, you can always go to a lawyer but it is not required.

5. You should review your Will regularly

Many people make their Will and then forget to think about updating it as their life circumstances change.  Some of the factors that require a review of one’s Will may include:

  • An executor or beneficiary has died
  • A birth of a child
  • Marriage
  • Divorce
  • A change in personal relationships
  • A change in one’s assets

Everyone should review their Will at least annually to make sure it is still consistent with their wishes.

 

Prince Rogers Nelson


The death of Prince should come as no surprise to anyone who has been watching the news. What may come as a surprise is that Prince’s fortune had dwindled from an estimated $300 million to a mere $150 million. Not only is that amount surprising but the fact that Prince (who no doubt had access to many lawyers and financial advisers) did not leave behind a Last Will and Testament is rather shocking.

Or is it? We’ve all heard the stories of many celebrities who have died without a Will; other celebrities in the past (i.e. Amy Winehouse) have died without a Last Will and Testament. The death of celebrities intestate have lead to family squabbling, hefty estate taxes and extra administration on the part of these loved ones. It’s appearing that way with Prince’s siblings, as their initial meeting after their brother’s death did not go well; tensions were in the air as the siblings allegedly squabbled and yelled among each other as to how the assets and estate of Prince should be divided.

Read more about  Prince’s Legacy and Fortune.

 

Will and Testament

The government of British Columbia recently announced a “Make your Will week” running from April 10 to April 16th 2016. The government emphasizing the importance of individuals creating your own Will should not be lost on people who procrastinate on making their Last Will and Testament.

It’s always best to have a Last Will and Testament under any circumstances, but if you already have one, you may want to consider making changes to your Will during these particular times:

When you are considering moving to a new province or territory;

When you are either expecting or have just had a child;

Getting married;

OR

Any particular time when major life circumstances change.

Having a Last Will and Testament is important under any circumstances, and it’s important to make sure that your Will is properly updated.

 

Click on the following link for more information on  Make a Will week in British Columbia.
Prince Rogers Nelson

The musical icon known as Prince passed away on April 21st 2016 at the age of 57. Prince Rogers Nelson died intestate (without a Will) at his home at Paisley Park in Minnesota. The estimated $150 million dollar fortune left behind by the mogul is now currently up in the air, as Minnesota inheritance laws will determine who the fortunate recipient will be.

Initially valued at $300 million, Prince’s fortunes have dwindled away over the years, possibly due as some would suggest, to a lack of high-powered attorneys and a constant rotation of financial advisers to look after his affairs.

Continue reading

Canadian savings plans


Does this scenario sound familiar to you? You are concerned about an elderly relative who may be taken advantage of financially by another relative or close “friend.” The elderly relative has money disappearing and while you strongly presume that the suspect is that close relative or friend, you don’t want to create a rift by pointing fingers? You wonder what to do? Is speaking up and possibly causing a fight between family members the most likely scenario? 

A frantic granddaughter explains in a newspaper column that she feels caught between a rock and a hard place as her grandmother’s financial resources dwindle. The culprits are both a relative and a close friend of the grandmother’s. 

This problem occurs more often common than you would think. How would you handle this situation? This article provides insight into how this delicate situation should be handled. 

retire

Looking forward to that early retirement and sipping cognac on a beach on a tropical paradise? Not so fast. If you’re like this couple drowning in debt, you may have no choice but to hold on to your job a little while longer if you want to retire. Read about the couple having to work longer than anticipated to save up for their retirement:

Couple looking to retire will have to stick to “boring” jobs.