As we get older, it is inevitable that we become more aware of our mortality. Reflections on life and death do not necessarily have to be morbid. They can also prompt us to take actions that focus on our legacy. Caring.com found that, in 2024, 43 percent of adults over age 55 have wills—down from 46 percent in 2023 and 48 percent in 2020
Tag Archives: Estate Planning
The state may also have to get involved with choosing guardians for your children, authorizing others to act on your behalf, and deciding other important matters. The state’s decisions may be very different than what you would have chosen. In addition, a lengthy probate process can cause delays, increased expenses, and a loss of privacy. Having an up-to-date estate plan makes your wishes known and makes things easier for your loved ones.
Although a large amount of her wealth came from her marriage to the late billionaire financier Richard C. Blum, Senator Feinstein was also successful in her own right. During their marriage, Feinstein and Blum established a marital trust that is now the subject of a fierce legal battle between Feinstein’s daughter and Blum’s three daughters.
If you are planning to speak to your parents about the need for an estate plan, it is important to try to include any siblings in the discussion to avoid giving the impression that you are trying to influence or control your parents’ choices.
Now is the Time to Talk with Your Estate Planning Attorney No perfect time exists to broach the subject of estate planning with your family. Although we all know that everyone eventually passes away, most of us choose to try to forget that reality. Faced with the decision between taking the initiative to start a […]
Receiving an inheritance is a huge blessing. However, it it is not handled properly, it could become a curse. For example, often times, the inheritor does not know what to do with the new asset and runs into financial trouble. Without care, inheritors can squander most, if not all of the inherited funds. In such […]
A dream without a plan is just a wish. Estate planning takes your wishes and turns them into reality. Estate planning is also a great way to focus on the legacy you want to leave behind for loved ones, so they can avoid the expense and delays associated with probate. And, in the process, you […]
According to a recent report from the Alzheimer’s Association, one in nine Americans age 65 or older have Alzheimer’s Disease. With Baby Boomers entering their senior years and people living longer, that number could triple by 2050. And Alzheimer’s is just one cause of dementia. Long Term Care in Cases of Dementia Caring for someone […]
How Much to Share and With Whom As the tax deadline quickly approaches, you’ve probably been working on your tax returns. If you’re like most people, you probably don’t feel comfortable sharing the details of your tax documents. But, your estate plan is an important part of making sure your affairs are in order. So, […]
“Life’s tragedy is that we get old too soon and wise too late.” ~ Benjamin Franklin Since wisdom means that you realize the finite nature of life, living well calls for careful estate planning. As Baby Boomers age, they discover the realities associated with aging:
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