Black MBA - Summer 2008 - (Page 56) EDUCATION Estate Planning Everything You Need to Know About… Estate Planning Taking Control of Your Assets and Heirs for Years to Come By Thayer J. Herte S IM PLY STATED, ESTATE planning is a process to help ensure that your hard-earned assets are preserved for your heirs. Although many people mistakenly believe that estate planning is only for the wealthy, this is not true. The objective of estate planning, no matter the size of your estate, is to ensure that your assets are managed in a way that will allow you to achieve your long-term financial and personal goals. If you have been successful and have substantial assets, it would be terrible to have your assets significantly diminished through the payment of estate taxes simply because you lack an effective estate plan. Estate planning is a process that should be revisited throughout the various phases in your life. The most basic estate plan should include a will, a trust and powers of attorney for health care and property. In particular, estate planning addresses how your property should be titled and how your fi nances should be managed during your life in the event of incapacity and after your death. Some of your short-term goals may include education funding for your children or grandchildren, or more longterm goals such as strategies to fund a comfortable retirement. If you own your own business, estate planning will include the process by which you clearly defi ne your plans for the continuation or wind-up phase of your business. If it is a family-owned business, you will need to think about whether or not it is practical for the business to continue to be managed by someone in your family or if it is to be dissolved or sold, how this process 56 BlackMBA • Summer 2008 • www.nbmbaa.org http://www.nbmbaa.org
Table of Contents Feed for the Digital Edition of Black MBA - Summer 2008 Black MBA- Summer 2008 Contents Mailbag Up Front From the President & CEO Politics of Change Catalyst for Change: Results of our 2008 Political Poll Know Whose Shoulders You Stand On: The Legacy of H. Naylor Fitzhugh Howard University: Changing With the Times Straight Talk: CEO to CEO Creating Your Own Sandbox Dual Threats Avoiding the Faux Pa Invest in Your MBA Everything You Need to Know About...Estate Planning On Campus Plan Ahead The Big Show What's in a Name? On the Move Market Forecast Jeff Friday Keith Wyche Life Lessons On the Ground Real Biz A Golden Opportunity Entrepreneurial Institute Tech Tools Read for Success Stacey Tisdale Advertiser Index Black MBA - Summer 2008 Black MBA - Summer 2008 - Black MBA- Summer 2008 (Page Cover1) Black MBA - Summer 2008 - Black MBA- Summer 2008 (Page Cover2) Black MBA - Summer 2008 - Black MBA- Summer 2008 (Page 3) Black MBA - Summer 2008 - Black MBA- Summer 2008 (Page 4) Black MBA - Summer 2008 - Black MBA- Summer 2008 (Page 5) Black MBA - Summer 2008 - Contents (Page 6) Black MBA - Summer 2008 - Contents (Page 7) Black MBA - Summer 2008 - Contents (Page 8) Black MBA - Summer 2008 - Contents (Page 9) Black MBA - Summer 2008 - Mailbag (Page 10) Black MBA - Summer 2008 - Mailbag (Page 11) Black MBA - Summer 2008 - Up Front (Page 12) Black MBA - Summer 2008 - Up Front (Page 13) Black MBA - Summer 2008 - Up Front (Page 14) Black MBA - Summer 2008 - Up Front (Page 15) Black MBA - Summer 2008 - From the President & CEO (Page 16) Black MBA - Summer 2008 - From the President & CEO (Page 17) Black MBA - Summer 2008 - Politics of Change (Page 18) Black MBA - Summer 2008 - Politics of Change (Page 19) Black MBA - Summer 2008 - Catalyst for Change: Results of our 2008 Political Poll (Page 20) Black MBA - Summer 2008 - Catalyst for Change: Results of our 2008 Political Poll (Page 21) Black MBA - Summer 2008 - Catalyst for Change: Results of our 2008 Political Poll (Page 22) Black MBA - Summer 2008 - Catalyst for Change: Results of our 2008 Political Poll (Page 23) Black MBA - Summer 2008 - Catalyst for Change: Results of our 2008 Political Poll (Page 24) Black MBA - Summer 2008 - Catalyst for Change: Results of our 2008 Political Poll (Page 25) Black MBA - Summer 2008 - Catalyst for Change: Results of our 2008 Political Poll (Page 26) Black MBA - Summer 2008 - Catalyst for Change: Results of our 2008 Political Poll (Page 27) Black MBA - Summer 2008 - Know Whose Shoulders You Stand On: The Legacy of H. Naylor Fitzhugh (Page 28) Black MBA - Summer 2008 - Know Whose Shoulders You Stand On: The Legacy of H. Naylor Fitzhugh (Page 29) Black MBA - Summer 2008 - Know Whose Shoulders You Stand On: The Legacy of H. Naylor Fitzhugh (Page 30) Black MBA - Summer 2008 - Know Whose Shoulders You Stand On: The Legacy of H. Naylor Fitzhugh (Page 31) Black MBA - Summer 2008 - Know Whose Shoulders You Stand On: The Legacy of H. Naylor Fitzhugh (Page 32) Black MBA - Summer 2008 - Know Whose Shoulders You Stand On: The Legacy of H. Naylor Fitzhugh (Page 33) Black MBA - Summer 2008 - Howard University: Changing With the Times (Page 34) Black MBA - Summer 2008 - Howard University: Changing With the Times (Page 35) Black MBA - Summer 2008 - Howard University: Changing With the Times (Page 36) Black MBA - Summer 2008 - Howard University: Changing With the Times (Page 37) Black MBA - Summer 2008 - Straight Talk: CEO to CEO Creating Your Own Sandbox (Page 38) Black MBA - Summer 2008 - Straight Talk: CEO to CEO Creating Your Own Sandbox (Page 39) Black MBA - Summer 2008 - Straight Talk: CEO to CEO Creating Your Own Sandbox (Page 40) Black MBA - Summer 2008 - Straight Talk: CEO to CEO Creating Your Own Sandbox (Page 41) Black MBA - Summer 2008 - Straight Talk: CEO to CEO Creating Your Own Sandbox (Page 42) Black MBA - Summer 2008 - Dual Threats (Page 43) Black MBA - Summer 2008 - Dual Threats (Page 44) Black MBA - Summer 2008 - Dual Threats (Page 45) Black MBA - Summer 2008 - Dual Threats (Page 46) Black MBA - Summer 2008 - Dual Threats (Page 47) Black MBA - Summer 2008 - Avoiding the Faux Pa (Page 48) Black MBA - Summer 2008 - Avoiding the Faux Pa (Page 49) Black MBA - Summer 2008 - Avoiding the Faux Pa (Page 50) Black MBA - Summer 2008 - Avoiding the Faux Pa (Page 51) Black MBA - Summer 2008 - Invest in Your MBA (Page 52) Black MBA - Summer 2008 - Invest in Your MBA (Page 53) Black MBA - Summer 2008 - Invest in Your MBA (Page 54) Black MBA - Summer 2008 - Invest in Your MBA (Page 55) Black MBA - Summer 2008 - Everything You Need to Know About...Estate Planning (Page 56) Black MBA - Summer 2008 - Everything You Need to Know About...Estate Planning (Page 57) Black MBA - Summer 2008 - Everything You Need to Know About...Estate Planning (Page 58) Black MBA - Summer 2008 - On Campus (Page 59) Black MBA - Summer 2008 - On Campus (Page 60) Black MBA - Summer 2008 - Plan Ahead (Page 61) Black MBA - Summer 2008 - Plan Ahead (Page 62) Black MBA - Summer 2008 - Plan Ahead (Page 63) Black MBA - Summer 2008 - Plan Ahead (Page 64) Black MBA - Summer 2008 - Plan Ahead (Page 65) Black MBA - Summer 2008 - Plan Ahead (Page 66) Black MBA - Summer 2008 - The Big Show (Page 67) Black MBA - Summer 2008 - What's in a Name? (Page 68) Black MBA - Summer 2008 - What's in a Name? (Page 69) Black MBA - Summer 2008 - On the Move (Page 70) Black MBA - Summer 2008 - On the Move (Page 71) Black MBA - Summer 2008 - On the Move (Page 72) Black MBA - Summer 2008 - On the Move (Page 73) Black MBA - Summer 2008 - Market Forecast (Page 74) Black MBA - Summer 2008 - Market Forecast (Page 75) Black MBA - Summer 2008 - Market Forecast (Page 76) Black MBA - Summer 2008 - Market Forecast (Page 77) Black MBA - Summer 2008 - Market Forecast (Page 78) Black MBA - Summer 2008 - Market Forecast (Page 79) Black MBA - Summer 2008 - Market Forecast (Page 80) Black MBA - Summer 2008 - Jeff Friday (Page 81) Black MBA - Summer 2008 - Jeff Friday (Page 82) Black MBA - Summer 2008 - Jeff Friday (Page 83) Black MBA - Summer 2008 - Jeff Friday (Page 84) Black MBA - Summer 2008 - Keith Wyche (Page 85) Black MBA - Summer 2008 - Keith Wyche (Page 86) Black MBA - Summer 2008 - Life Lessons (Page 87) Black MBA - Summer 2008 - Life Lessons (Page 88) Black MBA - Summer 2008 - On the Ground (Page 89) Black MBA - Summer 2008 - On the Ground (Page 90) Black MBA - Summer 2008 - Real Biz (Page 91) Black MBA - Summer 2008 - Real Biz (Page 92) Black MBA - Summer 2008 - Real Biz (Page 93) Black MBA - Summer 2008 - Real Biz (Page 94) Black MBA - Summer 2008 - A Golden Opportunity (Page 95) Black MBA - Summer 2008 - A Golden Opportunity (Page 96) Black MBA - Summer 2008 - A Golden Opportunity (Page 97) Black MBA - Summer 2008 - Entrepreneurial Institute (Page 98) Black MBA - Summer 2008 - Tech Tools (Page 99) Black MBA - Summer 2008 - Tech Tools (Page 100) Black MBA - Summer 2008 - Tech Tools (Page 101) Black MBA - Summer 2008 - Tech Tools (Page 102) Black MBA - Summer 2008 - Read for Success (Page 103) Black MBA - Summer 2008 - Read for Success (Page 104) Black MBA - Summer 2008 - Read for Success (Page 105) Black MBA - Summer 2008 - Stacey Tisdale (Page 106) Black MBA - Summer 2008 - Stacey Tisdale (Page 107) Black MBA - Summer 2008 - Advertiser Index (Page 108) Black MBA - Summer 2008 - Advertiser Index (Page 109) Black MBA - Summer 2008 - Advertiser Index (Page 110) Black MBA - Summer 2008 - Advertiser Index (Page Cover3) Black MBA - Summer 2008 - Advertiser Index (Page Cover4)
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