Here are a few documents that families will need, if parents are to remain involved in the medical and financial affairs of a child who has reached adulthood.
Seventy-seven percent of respondents in a recent survey said estate and legacy strategies were important for everyone, not just wealthy individuals, yet only 24% said they had taken the basic step of designating beneficiaries for all of their accounts.
Until now, the terms of service for each individual site have determined who has ownership and access after a death and whether the assets are deleted, frozen or can be transferred.
Running and owning a business is just like raising a child: Both are investments in the future, and both require a lot of time, resources and effort to raise successfully. One can argue that you would treat your business like you’d treat a child; you’d want it to succeed even after you’ve passed on or retired.