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Hugh Hefner's widow signed prenuptial, but still gets millions

When 91-year-old Hugh Hefner died this past week, many people wondered how his widow, Crystal, was going to fare. It was common knowledge that the 31-year-old former Playboy cover model had signed an ironclad prenuptial agreement with Hefner. Still, it was speculated that he was going to take care of her for the rest of her life, but the question was how he would accomplish that since she wasn't in his will.

Using generation-skipping trusts for maximum benefit

If you are looking for estate planning tools that may help you provide for specific needs of your grandchildren, you may want to consider a generation-skipping trust. These trusts are crafted specifically for individuals who wish to leave something special to a family member at least two generations younger. Using such a trust, a person can transfer a significant amount of money or property to a beneficiary tax free, if certain qualifications are met.

Trusts: Not just for big estates

When a person feels their estate is on the small side, there are certain incorrect assumptions they might make. For one, they might assume that their estate's size automatically means that getting a trust is something they don't really need to look into.

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