If you are one of the many people who start getting serious about their finances as they reach their 50s, enjoy this guide for your next steps.
This is a great time to get organized with estate planning—it will make things a lot easier for yourself and your loved ones.
Lewis established an irrevocable trust, in which he named ‘his son’s spouse’ as a beneficiary. At the time Clark, the son, was married to Vivian.
A will allows you to distribute your worldly goods, select a guardian for minor children and name an executor to carry out your wishes.
In coming years, millions of Baby Boomers — those born between 1946 and 1964 — are expected to retire in the U.S. In fact, by some estimates nearly a quarter of this country’s population will be aged 65-or-older within a few decades.
These are among the things an estate attorney can help you with planning. That’s why it’s essential to ensure you have one by your side, if you’re leaving an inheritance behind.
Millennials are finally embracing one of the cornerstones of adulthood, by writing their wills.
Both help you pass down assets, while avoiding the time and expense of probate. However, one has much more flexibility than the other.
Good estate planning must consider more than what you want to happen to your property and for your beneficiaries. It also must consider what you intentionally want to avoid happening.
If you’ve ever spent time working through your estate plan, you know how important it is to select and update your beneficiaries.