Estate Planning Tips for Empty Nesters

estate planning

No more school buses. No more huge grocery lists. The last bird has left, and now the nest is empty!

You may feel sad or you may be overjoyed. You may not truly feel like an “empty nester” if you are still paying college tuition or loans for college tuition. You may just be trying to remember what life is like without your kids in the house. Either way, one thing you may overlook is the importance of taking a step back and taking a look at your estate as a whole.

Continue reading “Estate Planning Tips for Empty Nesters”

When You’re Expecting an Inheritance

The “great wealth transfer” is underway. Over the next few decades, Baby Boomers will pass on $30 trillion in assets to Generation X and Y. If you’ve talked to your older loved ones about estate planning, you may have an idea of the scope of the assets that will wind up in your hands eventually. Have you calculated how this will affect your own estate planning?

Continue reading “When You’re Expecting an Inheritance”

What Will Happen to Your Digital Assets When You Pass Away?

digital assets

Much attention is given to how to handle your personal property after death, in the physical world. What about the digital footprint you have left behind? From cryptocurrency to domain names to online stores to your Twitter feed – do you have a plan in place for each of these digital assets and who will assume ownership or responsibility for termination?

Continue reading “What Will Happen to Your Digital Assets When You Pass Away?”

How Estate Planning Changes After Your Children Graduate

estate planning

 

Young children in the family offer powerful motivation for parents to put an estate plan in place. It’s imperative to ensure growing young ones will be taken care of by the desired guardian in the event of a parent’s premature passing, and it’s important that the guardian have access to the funds to “launch” the child in place of the deceased parent.

Continue reading “How Estate Planning Changes After Your Children Graduate”

5 Factors to Consider When Naming a Personal Representative

personal representative

So you’ve decided to have your will and estate plan drafted. This process involves identifying what assets you own, where they should go and how they should be given to the recipient. Another important step in estate planning is choosing an individual to oversee the entire process once you’re gone.

This person plays a critical role in the management and distribution of your assets after your passing, and they’re referred to as your personal representative. To have control over the individual chosen for this responsibility, you must name the person in your will. If you do not, the court will select a representative for you, which will most likely be your spouse or a close relative.

Continue reading “5 Factors to Consider When Naming a Personal Representative”

How to Talk with Aging Parents About Estate Planning

estate planning

“Mom, dad, we need to talk.” Many people dread discussing financial arrangements with their elderly parents. It’s not easy reminding our parents that their time left on this earth is limited, but it’s necessary for their (and your) peace of mind.

So, what’s the best way to talk to your aging parents about estate planning? We’ve provided a few sincere approaches to help broach that intimate conversation.
Continue reading “How to Talk with Aging Parents About Estate Planning”

How to Prepare for Your First Estate Planning Session

estate planning

Whether you’re a newlywed or a retiree, you should have an estate plan. An estate plan is more than a will alone. An estate plan consists of multiple documents underlining the “whos,” “whats,” and “hows” of the management of your finances, assets and family matters in case of your absence.

As opposed to the average firm that may ask their clients to come prepared with countless document copies and no tough questions, our team offers guidance through every step of the process. In preparation for your first estate planning session, we came up with a brief list on how you can prepare to meet with us.
Continue reading “How to Prepare for Your First Estate Planning Session”