Many people satisfy their philanthropic goals through their estate plan, but this requires careful planning to ensure that your charitable intentions are accomplished.
As people live longer, remarriage becomes more and more common. People may lose their spouse or divorce while still contemplating a long life ahead for themselves. Statistics show that the largest population of people getting remarried are in the age
What have I built during my life, both personally and financially? What type of legacy do I want to leave? Planning your estate is the ideal time to consider your philanthropic goals.
A common misunderstanding is that only wealthy people need wills. Just the words "estate planning," make the process sound more daunting—and expensive—than it really is.
I regularly hear the following excuse regarding why parents of minor children have not completed their estate planning: an inability to decide on who will act as the guardian of their minor children in the event of the parents' untimely death. While there are numerous reasons parents should plan for the possibility of death, designating their children’s future caregiver(s) should rank high on that list.
Planning your estate is the ideal time to consider your philanthropic goals. Once you establish your goals, you can then work with a planner to determine the most financially savvy and expeditious avenue to accomplish those goals.
Parents wishing to delay delivery of assets to their children beyond age twenty-five can do so by setting up a trust. A common misconception is that trusts are only for the ultra-wealthy. A trust can provide numerous benefits beyond simply delaying the age at which children receive assets.
In my estate planning and Elder Law practice, I am often asked, "Do I need a trust?" Many people hear about their friends or family that have a trust and they think maybe they need one too.
The bottom line for pet estate planning is that four legged friends may be some of your most important possessions while you live, so consider providing for their keep when you are no longer able to care for Fluffy or Fido.