The Importance of a Will
There’s much to plan for in life—college, your wedding, your first child, life insurance—and with more than enough to keep you busy, it’s easy to forget about your will.
February 1, 2021
There’s much to plan for in life—college, your wedding, your first child, life insurance—and with more than enough to keep you busy, it’s easy to forget about your will.
Cindy, a widow in her early 60s, was undergoing physical therapy for an injury to her foot, making it difficult for her to get around. In addition, she was suffering depression brought on by the immobility and pain, resulting in her neglecting to pay bills and taking care of other financial affairs.
When creating an estate plan, it may be necessary to name a trustee to handle your assets.
First, let’s debunk the myth that an estate plan needs to be both elaborate and expensive.
As parents, we often want to help our adult children who need a financial boost. Many times, this assistance comes in the form of a loan.
Maybe not tomorrow, but the sunset of our historically high estate tax exemptions is coming—and with the election on its way, it could be sooner than you think.
For most of us, considering the distribution of the property we have accumulated over our lives is a painful reminder of our mortality.
Many people focus on only protecting their estate from probate. However, in the big picture, probate is the least of their worries.
Planning for unfortunate events is particularly critical in the era of Covid-19.
When Pablo Picasso died in 1973 at the age of 91, he left behind about 45,000 works of art – so many that it would take the entire Empire State Building to display them all at the same time – and yet he didn’t leave a will.