The death of a family member or loved one is a tragic experience for many. While grieving, it is especially stressful because of the funeral planning and estate planning the immediate family will have to take care of.
In general, a last will and testament is an easy and straightforward way to state who gets what when you die and name a guardian for your minor children.
The best time to do estate planning is ten years ago, but the second-best time to do so is now.
Less than half of Americans have a will. Here’s why it’s critical to be among those who have taken the time to draft this important document.
Talking about death is not the most fun thing to do, especially when yours is the main topic. For this reason, you may postpone writing your will. You still have to write your will, if you want particular people to be in charge of your belongings after you pass away.
Your estate plan is much more likely to be successful, when you recognize and avoid the most common mistakes and take some key actions that often are overlooked.
Many of our parents completed their estate plans decades ago. The documents may still be valid. However, if they are stale or outdated, you may spend significant money trying to use them down the road.
If you don’t have a spouse and children, you might not think you need to do any estate planning—but that’s not the case.
A proper estate plan will help those left navigate the disposition of assets and the probate court system, especially for unmarried couples and some married same-sex couples.
The biggest misconception people have about estate planning is that “they are not that old and can do it later,” say almost half (49%) of advisors in a recent Key Private Bank Advisor Poll on estate planning. Yet, the majority (73%) of advisors say the ideal age to start putting an estate plan in place is before 40—earlier than many people think.
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