Studies have shown that the largest contributing factors to generational loss of wealth are a lack of communication and trust among family members and the failure to prepare heirs. This article discusses some of the fears that prevent people from communicating with their loved ones about their wealth.
Read this article if you’ve ever thought, “What will happen to my cat, dog, or other pet if I pass away?” Although much of the traditional estate planning conversation focuses on surviving spouses, children, and grandchildren, many pet parents wonder about what would happen to their “furry children” after their death or if they become incapacitated and unable to care for their pets.
Because your family’s needs and circumstances are constantly changing, so too must your estate plan. Your plan must be updated when certain life changes occur. These include, but are not limited to: marriage, the birth or adoption of a new family member, divorce, the death of a loved one, a significant change in assets, and a move to a new state or country.
You have done the hard work of establishing an estate plan. Good for you! However, you still have serious work to do to ensure that the strategy you have selected will maximize your peace of mind and protect your legacy. In this article, read about the “stress test” questions you should ask yourself to assess whether you need to meet with an estate planning attorney.
