Are you supporting your children, or are you just funding them and their interests? The answer could play a big role in determining the path they end up on in life. Check out these smart ways to build bridges between you and your kids that will empower them to make good choices.

Are you looking for one single professional with the full depth and breadth of knowledge required to effectively address all of your wealth management needs and wants? Such a person probably doesn't exist. That's why you may already be working with a diverse group of advisors. When it comes to managing your financial life, you don’t just need a roster of players—you need a cohesive team.

Inheriting money comes with plenty of benefits, but inheritance doesn’t automatically mean a worry-free life of ease. Inheriting wealth can actually create unique challenges and conflicts. Do you have the correct strategies in place to address inheritance-related issues?

If you’ve amassed sizable wealth, or are on the right path and getting there, it may be time to consider how to pass on some of that money to children and grandchildren—without creating big problems that could harm their futures and destroy family harmony.

Many successful families use trusts to minimize taxes, transfer wealth and protect assets from creditors and others, but is your family relinquishing more control over your trusts than you need to? By doing this, families can potentially put their goals at risk. There are three ways to ensure you take the reins when it comes to a trust: retain the power to remove a trustee, be a non-independent trustee, and direct your trustee.

One component of a wealth protection plan that is often overlooked or underused—even by the affluent—is the umbrella policy. If you don’t have an umbrella policy, run—don’t walk—and get one. If you do have an umbrella policy, make sure you’re sufficiently covered—and boost that coverage amount if you’re not.