BANK IRREVOCABLE living trusts accept only cash, but you can place any kind of asset in an expanded irrevocable living trust—real estate, cash, stock, bonds, works of art. The requirement is that it has monetary value.
You’ve probably heard Suze Orman’s mantra: Pay yourself first! Her point was, you need to save and invest wisely because you have obligations to meet, emergencies to cover and the future to provide for.
WHAT do you do if you’re a bachelor with property and quite a bit of money, and with no heirs to inherit your worldly goods?
When people reach what they, with uneasy laughter, refer to as the pre-departure area, their thoughts usually turn to passing on as much of their worldly goods to their children as they can, while giving as little as possible to the government.
Media warrior, icon of press freedom, a shaper of history. Letty Jimenez-Magsanoc was all that, but when I met her at the Manila Bulletin, the formidable persona still lay in the future.
My father was one of those old-school gentlemen who used to tell his children, “I’m not leaving you anything but your education.”
People who have acquired a bit of treasure have a recurring nightmare—that when they’re gone, their lovable children would turn...
